Shares of the shoes and accessories retailer DSW surged 9.2 percent Tuesday after the company reported quarterly results that surpassed Wall Street expectations.
For its fiscal second-quarter, the company reported a profit of 38 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 37 cents per share. The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was 30 cents per share.
The retailer posted revenue of $587.1 million in the period, which also topped Street forecasts. Analysts expected $552 million, according to Zacks.
DSW also raised its full-year outlook by 5 cents on each end of the range; annual earnings per share are now expected to range from $1.50 to $1.65.
Total returns through Aug. 26
Source: FactSetAssociated Press