DSW Inc. reported that it expects comparable store sales for the third
quarter to decline in the mid-single-digits, based on the
quarter-to-date. As a result, annual comparable store sales are now
expected to range from flat to down 2% for fiscal 2007, below the
company's previously announced estimate for comparable store sales of
flat to up 3%.
Based on current business trends, estimated annual 2007 earnings are
now expected to be at least 10% below last year's reported diluted
earnings per share of $1.48, below the company's previously announced
estimate for diluted earnings per share of $1.63 to $1.68.
The company is maintaining its plans to open at least 35 new DSW stores
during the year.
