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DSW fiscal Q3 profit falls 20.5% YOY

DSW Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 was 46 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS decreased 19.2% year over year from 57 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $40.5 million, a decrease of 20.5% from $51.0 million in the third quarter ended Nov. 1, 2014.

The normalized profit margin dropped to 6.1% from 7.6% in the year-earlier period.

Total revenue totaled $665.5 million, compared with $669.9 million in the prior-year period, and total operating expenses climbed on an annual basis to $602.2 million from $590.0 million.

Reported net income declined 21.3% year over year to $38.9 million, or 44 cents per share, from $49.4 million, or 55 cents per share.