Exhibit 99.1
DSW INC. REPORTS 2009 SECOND QUARTER FINANCIAL RESULTS;
UPDATES ANNUAL OUTLOOK
COLUMBUS, Ohio, August 26, 2009/PRNewswire/ — DSW Inc. (NYSE: DSW), a leading branded
footwear specialty retailer, announced net income of $7.6 million on net sales of $369.5
million for the quarter ended August 1, 2009, compared with net income of $11.0 million on
net sales of $357.2 million for the quarter ended August 2, 2008. Same store sales decreased
2.9% versus a decrease of 6.9% last year.
Diluted earnings per share were $0.17 for the second quarter of fiscal 2009 compared with
diluted earnings per share of $0.25 last year.
Six Month Results
Net income was $14.7 million on net sales of $755.3 million for the six months ended August 1,
2009, compared with net income of $21.2 million on net sales of $723.4 million for the six months
ended August 2, 2008. Same store sales decreased 3.8% for the comparable six month period versus a
decrease of 6.2% last year.
Diluted earnings per share were $0.33 for the six months ended August 1, 2009, compared with $0.48
for the same period last year.
Fiscal 2009 Outlook
For the fiscal year ending January 30, 2010, the Company reiterated its estimate of a mid-single
digit decrease in comparable store sales. Based on the performance through the second quarter
reported today, annual 2009 diluted earnings per share are now estimated to be in the range of
$0.37 to $0.45, updated from the Company’s previously announced estimate of $0.30 to $0.35.
The Company will discuss its 2009 outlook more fully on its webcasted conference call to be held
today.
Webcast and Conference Call
To hear the Company’s live earnings conference call, log on to www.dswinc.com today
at 8:00 AM Eastern, or call 1-866-362-4666 and reference passcode 57772818. To hear a replay
of the earnings call, which will be available approximately two hours after the conference
call ends, dial 1-888-286-8010, followed by passcode 43398914. An audio replay of the
conference call, as well as additional financial information, will also be available at
www.dswinc.com.
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 August
26, 2009, DSW operated 307 stores in 39 states and operated an e-commerce site, www.dsw.com.
DSW also supplied footwear to 358 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; the realization of our bankruptcy claims related to liquidating Filene’s
Basement and Value City Department Stores; impact of the disposition of Filene’s Basement by Retail
Ventures on the allocation of expenses pursuant to the shared services agreement with RVI; 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 additional credit upon the termination of our existing
credit facility; and liquidity risks at Retail Ventures and its 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.
Source: DSW Inc.
CONTACT: Investor Relations for DSW Inc., 1-614-872-1474
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