DSW Q3 profit beats Street, raises full-year outlook

Columbus, Ohio -- DSW Inc. reported Tuesday that net income increased to $53.7 million in the third quarter, up from $35.5 million a year earlier. Sales rose 8.5% to $530.7 million, from $489.3 million. Same-store sales increased 5.2%. The shoe retailer cited strong boot sales for the performance surge. “We are confident in our strategies and continue to expect fiscal 2011 to represent a strong year of growth, and as a result we have increased our annual guidance," said Mike MacDonald president and CEO.