NEW YORK (
is a standout green ticker amid a sea of red after the footwear retailer reported that its first-quarter earnings quadrupled, significantly beating forecasts, as sales and margins were substantially higher.
As a result, shares of DSW are increasing 1.3% to $27.62 in early afternoon trading, even as the S&P Retail Index drops 0.8% to 430.99.
During the quarter DSW earned $30.2 million, or 67 cents a share, compared with $7.1 million, or 16 cents, in the year-ago period. Analysts were calling for a profit of 49 cents a share.
DSW sales grew 16% to $449.5 million, while same-store sales surged 16.2%.
DSW reiterated its full-year outlook in the range of $1.65 to $1.75 a share.
-- Reported by Jeanine Poggi in New York.
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