DSW Q2 income up 15%

Columbus, Ohio -- DSW Inc. improved upon its results from the second quarter of fiscal 2012 in the second quarter of this fiscal year, reporting increases in net income, sales and same-store sales. The company had net income of $33.7 million, including net after-tax losses and charges, a 15% boost from reported net income of $29.3 million a year earlier.



In addition, net sales rose 9.7% to $562 million. Same-store sales increased 4.4%.



Mike MacDonald, president and CEO of DSW, credited assortment, value and convenience for driving DSW’s strong second quarter performance.



“Second quarter sales rebounded nicely after a difficult start to the year,” said MacDonald. “This sales bounce, coupled with excellent inventory management and prudent expense discipline, resulted in solid quarterly profit results. Moreover, in a volatile sales environment, DSW was able to post a solid 20% earnings growth for the first half of the fiscal year."