DSW credits ‘execution flexibility’ with Q1 increa - footwearbiz: Lead

News

DSW credits ‘execution flexibility’ with Q1 increase

31/05/2013
US footwear retailer DSW has posted better-than-expected first-quarter results with sales increasing 7.7% year on year to $601.4 million.

Its chief executive, Mike MacDonald, said the company demonstrated “remarkable execution flexibility” in a time of “unprecedented swings in weather patterns”.

He added: "Our merchandising and supply chain teams were able to adjust merchandise receipts in weather-sensitive categories while continuing to support trending categories with fresh product flow. We were pleased with the strong sales rebound in the final four weeks of the quarter that allowed us to minimise our comparable sales decline and exit the quarter with well positioned inventories."

Net income was $34.5 million for the 13 week period ending May 4, 2013.

The company opened 12 stores during the quarter, bringing the total store count to 376. It plans to add between 25 and 30 stores during fiscal 2013.





footwearbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.