DSW reports improved earnings, sales for Q4

COLUMBUS, Ohio DSW announced net income of $13.4 million on net sales of $402.6 million for the fourth quarter ended January 30, 2010, compared with a net loss of $7.5 million on net sales of $348.2 million for the fourth quarter ended Jan. 31, 2009. Same-store sales increased 12.9% versus a decrease of 7.2% last year.

The company reported that diluted earnings per share were 30 cents for the fourth quarter of fiscal 2009 compared with a diluted loss per share of 17 cents for the same period last year.

Net income was $54.7 million on net sales of $1.6 billion for the year ended Jan. 30, 2010, compared with net income of $26.9 million on net sales of $1.46 billion for the year ended Jan. 31, 2009.  Same-store sales increased 3.2% versus a decrease of 5.9% last year.  

Diluted earnings per share were $1.23 for the year ended Jan. 30, 2010 compared with diluted earnings per share of 61 cents for the same period last year.  

The company estimates 2010 annual comparable=stores sales in the low-single digit range and 2010 annual diluted earnings per share of approximately $1.35 to $1.45.