Exhibit 99.1
For Release at 7:00 AM Eastern on November 24, 2009
DSW INC. REPORTS 2009 THIRD QUARTER FINANCIAL RESULTS;
UPDATES ANNUAL OUTLOOK
COLUMBUS, Ohio, November 24, 2009/PRNewswire/ — DSW Inc. (NYSE: DSW), a leading branded
footwear specialty retailer, 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% versus a decrease of 4.1% last year.
Diluted earnings per share were $0.60 for the third quarter of fiscal 2009 compared with
diluted earnings per share of $0.30 for the same period last year.
Nine Month Results
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% 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.
Fiscal 2009 Outlook
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%. 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.
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 1-866-831-6267 and reference passcode 30402506. 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 87409873. An audio replay of the conference
call, as well as additional financial information, will also be available at www.dswinc.com.
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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
November 24, 2009, DSW operated 306 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; 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; 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.
Source: DSW Inc.
CONTACT: Investor Relations for DSW Inc., 1-614-872-1474
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