DSW Q2 profit falls 31%, beats estimates

Columbus, Ohio Shoe retailer DSW said Wednesday its second-quarter profit fell 31% but it still beat Wall Street's consensus prediction. It also raised its 2009 profit estimate.

For the quarter ended Aug. 1, DSW said it earned $7.6 million, down from $11 million last year. But it still performed well enough to top analysts’ views.

Revenue rose 3% to $369.5 million from $357.2 million, and its same-store sales decline slowed to 2.9% an improvement over the 6.9% drop it saw a year earlier.