DSW lifts fiscal 2009 profit guidance for 2nd time in less than 2 months on 4th-quarter sales

DSW boosts fiscal 2009 profit outlook again

COLUMBUS, Ohio — Footwear retailer DSW Inc. lifted its fiscal 2009 profit forecast for the second time in less than two months Tuesday, citing better-than-expected fourth-quarter sales and improved margins.

The company now expects earnings in a range of $1.15 to $1.25 for the year. Its prior guidance was for a profit between 90 cents and $1 per share.

Analysts polled by Thomson Reuters, whose estimates typically exclude one-time items, anticipate full-year earnings of 99 cents per share.

DSW also raised its outlook for a key sales figure. The retailer now expects annual sales at stores open at least a year to rise about 3 percent compared with a previous growth forecast of approximately 1 percent.

This figure is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

DSW ran 305 stores in 39 states as of Tuesday.

The company’s stock climbed 1 cent to $25.50 in midday trading.