Sales rise at DSW
Whilst mid-range and lower-priced footwear retailers appear to be bearing the brunt of the recent financial worries affecting US consumers, branded and higher-end stores seem to, thus far, remain largely unaffected as sales continue to rise.
Specialty retailer DSW Inc., which stocks brand name and designer dress, casual and athletic footwear, is one of those which has avoided a downturn, having posted improved sales and net income for the third quarter and first nine months. For the third quarter net income grew to $22.4 million, up from $16 million in the same quarter last year, while the company posted net sales of $367.4 million, up from the $332.2 million reported in the same period in 2006. Year-to-date, net income rose to $52.7 million from $48.9 million and net sales improved to $1.07 billion from $950 million.
Headquartered in Columbus, Ohio, the company currently operates 255 stores in 36 states and supplies footwear to 379 leased locations.
