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DSW fiscal Q1 profit climbs 13.9% YOY

DSW Inc. said its normalized net income for the fiscal first quarter ended May 3 was 42 cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS climbed 13.2% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $38.9 million, a gain of 13.9% from $34.1 million in the year-earlier period.

The normalized profit margin climbed to 6.5% from 5.7% in the year-earlier period.

Total revenue came to $598.9 million, compared with $601.4 million in the year-earlier period, and total operating expenses declined from the prior-year period to $537.7 million from $547.1 million.

Reported net income rose 11.2% on an annual basis to $38.7 million, or 42 cents per share, from $34.8 million, or 38 cents per share.