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Popular footwear and accessories retailer DSW Inc. (DSW - Snapshot Report) announced its store expansion program yesterday. As per the program, the company will introduce 3 new outlets in different locations in the coming weeks.

The company plans to open its first outlet at M Street, located in the northwestern region of Washington, D.C., the capital of United States. The second outlet will be opened at Sycamore Road, situated in DeKalb, a city in Illinois. The last outlet will be operational at E. Rio Salado Parkway, which is located in Arizona’s famous city of Tempe. All three stores are slated to open on April 10, 2014.

This is not the first time that DSW is expanding its store base. The company has recently announced the opening of a store each in Greenburgh, NewYork; Olympia, Washington; and Wyomissing, Pennsylvania. All three stores are operational from April 3, 2014. Moreover, the company inaugurated an outlet each in Mentor, Ohio and Corpus Christi, Texas on March 27, 2014.

DSW’s latest store openings signify the company’s commitment to strengthen its network with the aim of driving top-line growth. As of April 10, 2014, the company will operate 407 outlets across 43 states, Puerto Rico and the District of Columbia. Additionally, the company operates online through its official website, i.e., apart from operating a mobile website  

DSW is a perfect place for shoe-lovers as it caters to its customers, both men and women, with a wide range of the trendiest collection of shoes. The company covers casual, dressy, athletic and miscellaneous types of footwear, including sandals, boots, designer shoes, etc. The company, which offers various luxury brands, also caters to kids demand.

Recently, the company posted fourth-quarter fiscal 2013 adjusted earnings of 31 cents per share, beating the Zacks Consensus Estimate by a couple of cents. The company posted fiscal 2013 adjusted earnings of $1.88 per share, up 12.6% year over year and beating the Zacks Consensus Estimate of $1.86 per share. This marked the 5th consecutive double-digit year-over-year rise for DSW.

Going forward, the company’s omni-channel operations are likely to augment earnings from 2015. Also, it seems that the company is already on track to meet its guidance of opening 35 new outlets in fiscal 2014.

DSW currently holds a Zacks Rank #4 (Sell). However, other better-ranked stocks in the retail sector include Barnes & Noble, Inc. (BKS - Snapshot Report), with a Zacks Rank #1 (Strong Buy), and American Apparel, Inc. (APP - Snapshot Report) and Foot Locker, Inc. (FL - Snapshot Report) with a Zacks Rank #2 (Buy).

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