COLUMBUS, Ohio — Footwear and accessories company DSW's fiscal fourth-quarter profit rose as a key sales metric improved.
Its shares climbed more than 6 percent in premarket trading Tuesday.
DSW Inc. earned $30.8 million, or 34 cents per share, for the period ended Jan. 31. That compares with $28.1 million, or 30 cents per share, a year ago.
Earnings, adjusted to account for discontinued operations, came to 35 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
Revenue for the Columbus, Ohio-based company totaled $640.2 million, also beating Wall Street forecasts. Six analysts surveyed by Zacks expected $608 million.
Sales at stores open at least a year, a key gauge of a retailer's health, rose 7.6 percent. The figure was flat in the prior-year period. Sales at stores open at least a year excludes results from stores recently opened or closed.
For the year, DSW reported a profit of $153.3 million, or $1.69 per share. Revenue totaled $2.5 billion.
The company expects fiscal 2015 earnings to be in a range of $1.80 to $1.90 per share. Analysts polled by FactSet predict earnings of $1.90 per share.
DSW has 433 stores in 42 states, the District of Columbia and Puerto Rico as of Tuesday.
The chain's stock added $2.41, or 6.5 percent, to $39.26 in premarket trading more than an hour before the market open.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSW at http://www.zacks.com/ap/DSW
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