Mike MacDonald, President and Chief Executive Officer of DSW commented: "We were gratified to report strong sales and profit growth in the fourth quarter. Our decisive actions earlier in the year in the areas of leadership, value, and marketing produced strong results. These actions produced the strongest comp performance in almost three years, with traffic gains in both store and digital channels. Further, we continue to invest in long term strategies that are making DSW more customer-centric and channel agnostic. We are excited to embark on the 2015 fiscal year with considerable momentum."

Fourth Quarter

DSW reported sales increased 11.9% and totaled 640 million US dollars, compared to last year's sales of 572 million US dollars; Adjusted sales increased 12.1% to 640 million US dollars (571 million US dollars in similar period in 2013).

Reported net income totaled 30.8 million US dollars, or 0.34 US dollars per diluted share (28.1 million US dollars, or 0.30 US dollars per diluted share in similar period in the previous year). Adjusted net income was 30.9 million US dollars, or 0.35 US dollars per diluted share, an increase of 13% over last year.

Full Year

DSW reported sales increasing by 5.4% to 2.5 billion US dollars which compares to last year's sales of 2.4 billion US dollars. Last year's sales included 18 million US dollars from the Company's luxury test. Adjusted sales increased 6.2% to 2.5 billion US dollars compared to last year's sales of 2.4 billion US dollars.

Reported net income was 153.3 million US dollars, or 1.69 US dollars per diluted share, an increase of 2.4% over last year's reported earnings per share of 1.65 US dollars per diluted share. Adjusted net income was 153.5 million US dollars, or 1.69 US dollars per diluted share, a decrease of 10% from last year's 1.88 US dollars per diluted share.

Fiscal 2015 outlook

For the full year, the company expects revenue growth of 7% to 8%, with comparable sales growth in the low to mid-single digit range. The Company expects to open 35 new stores, including 8-10 small format stores. Full year earnings per share is expected to range between 1.80 US dollars to 1.90 US dollars per share, representing approximately 10% earnings growth at the midpoint of the range. This guidance assumes a tax rate of 39% and 90 million shares outstanding.

Distribution network expansion

On the 18th of March, DSW announced the opening of 35 new stores this year. "We are pleased to grow our footprint in cities DSW already calls home, while also expanding to new areas of the country. Opening 19 stores this season and more throughout 2015 is absolutely thrilling for our brand. We look forward to meeting new customers and engaging with our loyal Rewards members at each store opening", stated Carrie McDermott, Executive Vice President and Chief Operating Officer of DSW.