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DSW Reports Flush Q3
Same Store Sales Up 8.7 Percent

COLUMBUS, Ohio—Footwear retailer DSW Inc. (NYSE:DSW) has plenty to give thanks for this November, as the company has announced net income of $26.6 million on net sales of $444.6 million for the quarter ended October 31, 2009, compared with net income of $13.2 million on net sales of $391.4 million for the quarter ended November 1, 2008. Same store sales increased 8.7 percent versus a decrease of 4.1 percent last year.

Net income was $41.3 million on net sales of $1.2 billion for the thirty-nine weeks ended October 31, 2009, compared with net income of $34.4 million on net sales of $1.1 billion for the thirty-nine weeks ended November 1, 2008. Same store sales increased 0.4% for the comparable thirty-nine week period versus a decrease of 5.5 percent last year.

Diluted earnings per share were $0.93 for the thirty-nine weeks ended October 31, 2009 compared with diluted earnings per share of $0.78 for the same period last year.

Based on the performance through the third quarter reported today, the company now estimates annual 2009 diluted earnings per share of $0.90 to $1.00 and annual comparable store sales of approximately 1 percent. This is updated from the company's previous estimate of annual 2009 diluted earnings per share of $0.70 to $0.80, and flat annual comparable store sales.

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