Mike MacDonald, DSW, Inc.'s President and Chief Executive Officer commented: "In the quarter we accomplished our goal of achieving improvement in the underlying sales trends and eliminating any inventory imbalances. All major categories recorded improved sales performance in the second quarter compared to the first quarter. In addition, we were encouraged by the sequential improvement in sales trends as the quarter progressed. The actions we took to balance inventories created margin pressure but inventories at the end of the quarter were current and below the prior year on a cost per square foot basis”. He progressed adding: "We continued to make progress in our omni-channel initiative. The changes we are making are fundamental to the way we serve our customers. They will enable DSW to respond to the rapidly changing customer shopping patterns and maintain our position of strength in the footwear industry".

For the second quarter, adjusted sales (includes DSW and Affiliated Business Group) increased 4.5% to 587.1 million US dollars compared to last year's second quarter sales of 562.1 million US dollars. Net income stood at 34.3 million US dollars (0.38 US dollars per diluted share), which  compares to net income in the second quarter of 2013 of 33.7 million US dollars, a1.8% increment (0.37 US dollars per diluted share).

The result for the semester were also positive. Adjusted sales increased 1.9% to 1 186.0 million US dollars compared to last year's sales of 1 163.4 million US dollars. Net income was 73.0 million US dollars, or 0.80 US dollars per diluted share, on 92 million weighted average shares outstanding. This compares to net income in the same period last year of 68.2 million US dollars, or 0.74 US dollars per diluted share.

For the fifty-two week fiscal year ending on the 31st January 2015, the Company expects adjusted earnings per share to range from 1.50 US dollars to 1.65 US dollars per share. This assumes flattish comps and total revenue growth in the mid single digit range. This guidance includes omni-channel related expenses of 10 million US dollars, or approximately 0.07 US dollars per share, a tax rate of 39% and diluted shares outstanding of 91 million US dollars.

DSW, Inc. is a branded footwear and accessories retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear and accessories for women, men and kids. As of the 26th of August DSW operates 410 stores in 42 states in the US and Puerto Rico. DSW also supplies footwear to 362 leased locations in the United States and operates two Yellow Box stores under the Affiliated Business Group.

Company’s shares were last traded at 31.01 US dollars at the New York Stock Exchange on the 28th August.

For more information about DSW Inc. please refer to the company’s website.