DSW Inc. reported net sales for the thirteen-week quarter ended Feb. 2, 2008 increased 1% to $332.5 million compared with $329.1 million for the fourteen-week quarter ended Feb. 3, 2007. Same-store sales decreased 1.7% for the comparable thirteen-week period versus an increase of 1.0% last year.
Net sales for the fifty-two week year increased 10% to $1.41 billion compared with $1.28 billion for last years fifty-three week period. Same store sales decreased 0.8% for the comparable fifty-two week period versus an increase of 2.5% last year.
Shoe Carnival, Inc. reported a 7.3% decline in sales for the thirteen-week fourth quarter to $164.3 million from sales of $177.2 million for the fourteen-week period last year. Sales of approximately $11.5 million were recorded in the extra week of the fourth quarter of fiscal 2006. Comparable store sales for the quarter decreased 5.7%.
Sales for the 52-week 2007 fiscal year ended February 2, 2008, decreased 3.4% to $658.7 million from sales of $681.7 million for the 53-week 2006 fiscal year ended February 3, 2007. Comparable store sales for the 52-week comparable period decreased 5.2% compared with the 52-week fiscal year 2007.
Earnings for the fourth quarter of fiscal 2007 are now expected to range from 6 cents to 8 cents per diluted share. Accordingly, earnings for the full fiscal year 2007 are expected to range from 93 cents to 95 cents per diluted share. Included in these estimates are impairment charges in the fourth quarter of 5 cents per diluted share for certain stores expected to close in fiscal 2008.
The company also announced the opening of one store and the closing of three stores during the fourth quarter, ending the fiscal year with 291 stores.
