DSW Q2 profit jumps on acquisition and rising sales
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Columbus, Ohio -- DSW said Tuesday that its second-quarter profit soared, boosted by a hefty one-time gain related to its acquisition of Retail Ventures. The results beat Wall Street expectations and the company boosted its full-year outlook. For the quarter ended July DSW posted net income of $139.9 million, compared with $26.9 million for the same quarter last year. Excluding the one-time gain related to the purchase of Retail Ventures, the company said it posted an adjusted profit of $33.7 million, compared with an adjusted $23.5 million in the year-ago period. Sales rose 15% to $476.3 million from $415.1
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- People:
- Mike MacDonald
- Places:
- Columbus, Ohio
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