DSW Inc. forecast first quarter same-store sales growth of about 16%. As a result, the footwear chain raised its full-year profit view to between $1.65 a share and $1.75 a share, up from its previous outlook of between $1.35 a share and $1.45 a share. Fiscal 2009 diluted EPS was $1.23.
DSW sees full-year same-store sales growth of 6% to 8%. It had earlier expected sales at stores open at least a year to rise in the low-single digit range.
The company said the estimated year-over-year earnings increase is expected to occur in the first six months of fiscal 2010. The annual guidance assumes the earnings growth will moderate in the second half as it compares to strong sales and margin results for the same period a year ago.
