Shares of DSW Inc. (NYSE: DSW) rallied on Tuesday after the footwear retailer reported 15% increase in fiscal second quarter net income, aided by higher sales. For the quarter which ended August 3, the Columbus OH based company posted a profit of $33.7 million or 73 cents a share compared to a net income of $29.3 million or 65 cents a share, in the same quarter of last year. Stripping out onetime items such as expenses linked to luxury test and legacy charges related to an acquisition of RVI, the adjusted earnings stood at 97 cents a share up from 66 cents a share, in the year-earlier quarter. Sales climbed 9.7% to $562.1 million. Analysts’ consensus estimate was for earnings of 80 cents a share on revenue of $560 million.
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Major Gainers and Losers in Early Trading on November 20; DSW, HPQ, CLNE, BBY
Shares of DSW Inc. (NYSE: DSW), a branded footwear and accessories specialty retailer, are soaring in early trading today. At last check, DSW shares were trading 9.50% higher at $68.21 on above average volume of 823,423. The stock hit a 52-week high of $69.35 today. DSW shares have gained nearly 17% in the last three trading sessions.
Continue reading Major Gainers and Losers in Early Trading on November 20; DSW, HPQ, CLNE, BBY