DSW profit soars in Q1

Columbus, Ohio Retail Ventures announced that net sales at DSW for the first quarter ended May 1 increased 16.5% to $449.5 million, from $385.8 million from the same period the year before.

DSW’s first-quarter net income surged to $30.2 million from $7.1 million last year.

Meanwhile, same-store sales increased 16.2% versus a decrease of 4.7% last year.

Retail Ventures is a holding company whose subsidiary, DSW, is a leading United States branded footwear specialty retailer operating, as of May 1, 311 shoe stores in 39 states.

DSW also supplies shoes, under supply agreements, to 354 locations and operates dsw.com.