DSW steps up store openings in 2012

COLUMBUS, Ohio — DSW is raising its full-year earnings guidance and accelerating new store openings following strong November and December sales results.

The company said it has raised its annual diluted earnings per share guidance to a range of $2.96 to $2.99 for fiscal 2011 from a range of $2.90 to $2.95, excluding any impact from the RVI merger and related items.

In addition, DSW said it plans to accelerate new store openings in 2012 to between 35 to 40 new stores, which is ahead of its long-term goal of 15 to 20 new stores per year.

"Based on strong November and December sales results, we expect to exceed our previous guidance," stated Mike MacDonald, president and CEO of DSW Inc. "We are also pleased to announce that we will be opening more new stores in 2012 than we previously planned, the majority of which will occur in the second half of 2012. The expansion of our footprint into new and existing markets is a key growth initiative for us as we further solidify our position as a destination for great brands, fashion and value in the footwear industry."