Retail Ventures Sales Leap Drives Improvement

DSW Shoes Store FrontColumbus, Ohio–Retail Ventures, the parent company of DSW, reported rising sales and a move back into profit from continuing operations in its first quarter.

The company said that income from continuing operations for the quarter ended May 1 was $2.6 million on net sales of $449.5 million, compared to loss of $51.9 million on net sales of $385.8 million in the same period last year.

DSW same store sales increased 16.2% during the first quarter versus a decrease of 4.7% last year. Diluted loss per share from continuing operations was $0.18 for the first quarter compared with $1.12 per share last year.

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