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DSW’s omnichannel efforts pressure profits
Fundamental changes in the way DSW serves its footwear customers in an omnichannel world will put significant pressure on profits during the second half of the year, according to president and CEO Mike MacDonald.
The leading retailer of branded footwear and accessories with 410 stores said sales for its second quarter increased 4.5% to $587 million and same store sales advanced 0.8% on top of a prior year increase of 4.4%. Profits increased to $34.3 million, or 38 cents a share, compared to prior year profits of $33.7 million, or 37 cents a share.