USA: DSW Inc. Reports 2008 First Quarter Sales Results

DSW Inc. reported net sales for the quarter ended May 3, 2008 increased 3% to $366.3 million compared with $357.0 million for the quarter ended May 5, 2007. Same store sales decreased 5.4% for the comparable period versus a decrease of 3.6% last year.

2008 Outlook

For the fiscal year ending January 31, 2009, the Company estimates annual comparable store sales to be in the negative mid-single digits and annual earnings per diluted share to be in the range of $0.75 to $0.85. This outlook is updated from the Company's previously announced guidance, issued on March 27, 2008, of negative comparable store sales for the first half of fiscal 2008 and earnings per diluted share for the first half of fiscal 2008 significantly below the $0.68 per diluted share reported for the first half of fiscal 2007.

About DSW

DSW Inc. is a leading branded footwear specialty retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear for women and men. As of May 8, 2008 DSW operated 269 stores in 37 states and supplied footwear to 384 leased locations (36 for related retailers and 348 for non-related retailers) in the United States.

Added: May 9, 2008 (5 days ago) Source: Agencies

Textile Statistics from USA:

USA: Apparel imports increased 12 per cent in September 2005

USA: Uncertainty caused downfall in China’s market share

USA: Statistical report - Impact on cotton knit shirt post quota

Related News:

USA: Nordstrom Reports April Sales

USA: DSW Inc. Reports 2008 First Quarter Sales Results

USA: Wal-Mart Reports April Sales

USA: OmniaLuo Inc. Rated 'Speculative Buy,' Target Price $3.90

USA: American Apparel Deploys RFID Solution From Motorola

INDIA: Aditya Birla Group Increases its Stake in the Canadian JV's

USA: Bassett Announces First Quarter 2008 Earnings

INDIA: Arvind Mills' net profit at Rs 6 Crores and sales at Rs 537 Crores

INDIA: Nakoda Textiles yearly net profit zooms 63 per cent

IRELAND: Clothing Footwear Industry Market Review 2008

VIETNAM: Vietnam Export Rushes Upmarket

USA: Nike to raise $1 billion

USA: Total Luxury Group Acquires Control of Home Furnishings Business

BELGIUM: Van de Velde saw sales grow by 5.9%

USA: Nike Inc. will sell its Bauer Hockey unit

USA: 2008 Marketing & Sales Conference of UTSA

GERMANY: BASF is raising the prices for leather chemicals

VIETNAM: China's new production base is Vietnam

INDIA: Domestic textile industry facing acute shortage of skilled labour

INDIA: Raw jute prices steady