Investing.com - DSW Inc (NYSE:DSW) shares soared on Tuesday after the company released its second quarter results.
The footwear retailer earned $0.38 per share in the quarter on revenue of $680.41 million. The EPS result was $0.09 per share above expectations and revenue beat by $14.3 million.
Shares climbed higher in the aftermath of the earnings and then the upside gained extra impetus during and after the earnings discussion when DSW's CEO Roger Rawlins said the company saw a significant increase in sales of regular-priced items in its second quarter and that consolidation in the industry may mean that the company has an opportunity to acquire market share moving forward.
DSW expects revenue will grow by 3% to 4% this year.
DSW’s shares were recently up 19%. Shares are on track to close the session with their largest daily advance since the company went public. A large number of shares changed hands on Tuesday, with 10.88 million shares exchanged as of Tuesday afternoon, about ten times the 30-day average of 1.7 million shares.