DSW operator Retail Ventures says its 2nd-qtr net income jumps as revenue climbs

Shoe seller DSW’s operator says 2Q profit jumps

COLUMBUS, Ohio — Retail Ventures Inc., which operates the DSW shoe store chain, posted a 67 percent jump in second-quarter net income as a key revenue figure improved.

The company earned $26.9 million, or 44 cents per share, in the three-month period ending July 31. That’s up from earnings of $16.1 million, or 33 cents per share, a year earlier.

The chain’s revenue rose 12.3 percent to $415.1 million, and its revenue at stores open at least a year rose 12 percent.

DSW, based in Columbus, sells shoes at discounted prices in 309 stores in 39 states and through other retailers.

Revenue at stores open at least a year is considered a key indicator of a retailer’s health because it measures growth from existing locations rather than newly opened ones. For last year’s second quarter, the figure was 2.9 percent below the year before.

Retail Ventures’ shares fell 2 cents to close at $9.02 on Thursday before the results were released.