DSW Inc. Raises Fiscal 2009 Annual Earnings Outlook

Jan 12, 2010, 07:00 ET from DSW Inc.

COLUMBUS, Ohio, Jan. 12 /PRNewswire-FirstCall/ -- DSW Inc. (NYSE: DSW), a leading branded footwear specialty retailer, now estimates annual comparable store sales of approximately 3% and annual diluted earnings per share of $1.15 to $1.25 for fiscal 2009.  This is updated from the Company's previous estimate of annual comparable store sales of approximately 1% and annual diluted earnings per share of $0.90 to $1.00 for fiscal 2009.  The increase in estimates is the result of better-than-expected sales performance and margin improvement for the fourth quarter.

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About DSW Inc.

DSW Inc. is a leading branded footwear specialty retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear for women and men.  As of January 12, 2010, DSW operated 305 stores in 39 states and operated an e-commerce site, www.dsw.com.  DSW also supplied footwear to 356 leased locations in the United States.  For store locations and additional information about DSW, visit www.dswinc.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Any statements in this release that are not historical facts, including the statements made in our "Outlook," are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company's current expectations and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These factors include, but are not limited to: our success in opening and operating new stores on a timely and profitable basis; continuation of supply agreements and the financial condition of our leased business partners; maintaining good relationships with our vendors; our ability to anticipate and respond to fashion trends; fluctuation of our comparable store sales and quarterly financial performance; disruption of our distribution operations; failure to retain our key executives or attract qualified new personnel; our competitiveness with respect to style, price, brand availability and customer service; declining general economic conditions; risks inherent to international trade with countries that are major manufacturers of footwear; the success of dsw.com; liquidity and investment risks related to our investments; RVI's lease of an office facility; our ability to secure a replacement credit facility upon the expiration of our existing credit facility; and liquidity risks at Retail Ventures and their impact on DSW. Additional factors that could cause our actual results to differ materially from our expectations are described in the Company's latest annual or quarterly report, as filed with the SEC. All forward-looking statements speak only as of the time when made. The Company undertakes no obligation to revise the forward-looking statements included in this press release to reflect any future events or circumstances.