Mike MacDonald Archives

June 18, 2012DSW using $100M in cash to buy back stock

DSW Inc., which opened a Manahattan store earlier this year, is buying back $100 million of its stock. DSW Inc. DSW Inc. Latest from The Business Journals Countdown: Public company stock performanceEastpoint Mall sells at auction for reduced MCentral Ohio earnings reports for the week Follow this company will buy back $100 million of its stock during the next year. The Columbus-based company said Monday it would use cash on hand to fund the share repurchase program. DSW (NYSE:DSW) stock closed at $58.80 a share on Friday. “Our business continues

January 10, 2012Shoe Retailer DSW to open more stores, ups 2011 earnings forecast

DSW , Inc. ( NYSE:DSW ), a branded footwear and accessories retailer, has raised its annual earnings guidance and plans to open more stores in the second half of this year, the company said. The company now expects its fiscal 2011 annual earnings to be $2.96 to $2.99 per share. That is up compared to its prior forecast of $2.90 to $2.95 per share. Analysts, on average, are seeking earnings of $2.94 per share, on revenue of $2 billion, according to Bloomberg. Shares lifted 11.96 percent jumping to $47.74 apiece Tuesday afternoon in New

November 22, 2011DSW 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.

August 31, 2011DSW Q2 profit jumps on acquisition and rising sales

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

August 30, 2011DSW steps up 2Q comps

COLUMBUS, Ohio — DSW Inc. reported that net sales for the second quarter increased 4.7% to $476.3 million from $415.1 million in the second quarter of 2010. Comparable sales for the second quarter increased 12.3%. Reported net income was $139.9 million, or $3.96 per diluted share. This compares with reported net income of $26.9 million, or $1.00 per diluted share. "We continued our strong performance in the second quarter, delivering double-digit increases in sales and comparable sales, expansion in gross margin and solid earnings growth driven by the success of our format and our strategies," stated Mike MacDonald, president

April 5, 2011DSW Announces Executive Appointments to Support Strategic Growth

DSW announced the appointment of Roger Rawlins to senior vice president and general manager of DSW.com. Jennie Wilson was also named senior vice president of finance and controller. Rawlins has been with DSW since 2006 and he has held senior finance roles of increasing responsibility, most recently as SVP of finance and controller.