DSW profit slips as sales grow in 1Q - Business First of Columbus:

jiqatili.wordpress.com
The Columbus-based company told investors after the markets closed Wednesdaty that itearned $7.15 or 16 cents a in the first quarter ended May 2. That’s down 31 percenft from $10.3 million, or 23 cents a in the same period ayear ago. Saled in the quarter jumped to $385.8 million from $366. 3 million, though sales at stores open at leastf a year during the quarter wereoff 4.7 percent. Operating expensex ate up 88 percenyt ofthe company’s gross profit, comparedd with about 83 percen t last year. DSW also booked an impairment charger on investmentstotaling $395,000.
The compan y said it expects full-year share earnings to come in at betweenm 30 cents and 35 centswhilwe same-store sales should fall in the mid-single DSW last year earnede 61 cents a share. DSW (NYSE:DSW) runs 304 storee in 38 states and operatesan e-commerce site at dsw.com. Columbus-based (NYSE:RVI), which recently shed its Filene’s Basementf chain, is the company’s majoritgy owner.