** charts before earnings **
** charts after earnings **
DSW beats by $0.09, beats on revs; reaffirms FY18 EPS guidance
- Reports Q2 (Jul) earnings of $0.38 per share, excluding non-recurring items, $0.09 better thanthe Capital IQ Consensus of $0.29; revenues rose 3.2% year/year to $680.4 mln vs the $666.66 mln Capital IQ Consensus; comps +0.6%.
- Reported gross profit increased by 50 bps, driven by lower markdowns and favorable sourcing, partially offset by inventory reserves and distribution costs related to the ongoing integration of Ebuys.
- Co reaffirms guidance for FY18, sees EPS of $1.45-1.55, excluding non-recurring items, vs. $1.44 Capital IQ Consensus Estimate.
- The Board of Directors approved a new $500 million share repurchase authorization, in addition to the Company's remaining $33 million in its current authorization. Since 2013, the Company has returned to shareholders close to $600 million in dividends and share repurchases.
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