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DSW fiscal Q3 profit falls 8.9% YOY

DSW Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 57 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.

EPS declined 6.6% year over year from 61 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $50.8 million, a decline of 8.9% from $55.8 million in the year-earlier period.

The normalized profit margin declined to 7.6% from 8.8% in the year-earlier period.

Total revenue climbed 5.8% year over year to $669.9 million from $633.0 million, and total operating expenses climbed 8.3% on an annual basis to $590.2 million from $544.7 million.

Reported net income decreased 10.6% year over year to $49.4 million, or 55 cents per share, from $55.3 million, or 60 cents per share.