DSW Inc. (DSW - Free Report) , a leading footwear and accessories retailer, has been expanding its store base aggressively over time. Recently, it announced two more new store openings – one at Modesto, California and another at Petersburg, Florida.
Earlier this week, DSW announced five store openings – one each at Maplewood in Minnesota, Providence in Rhode Island, Gurnee in Illinois, Washington D.C. and another in Wisconsin Avenue Northwest.
The company is in sync with its strategic policy of opening around 26 new stores in the fiscal third quarter 2012 (ending October 2012) and one in the fiscal fourth quarter, bringing the total number of new store openings to 39 in fiscal 2012. Considering these latest store openings, it can be said that the company will soon achieve its target of opening the required number of stores.
DSW’s store expansion strategy is expected to be accretive to its top-line growth, since it offers a wide range of designer shoes at discounted prices for both men and women. Its wedding shop collection provides exclusive assortments for bridal parties and occasions.
DSW in its recently released fiscal second-quarter results revealed that it has opened two larger-than-average downtown stores and relocated two stores during the quarter. Ending the first six months of fiscal 2012, the company opened 12 new stores and completed four store relocations.
Columbus, Ohio-based DSW Inc. currently operates 356 stores in 41 states and supplies footwear to 344 leased locations in the U.S. It also runs an e-commerce site www.dsw.com and a mobile website m.dsw.com. The company’s fiscal third-quarter results are expected to release on November 19, 2012.
DSW, which competes with J. C. Penney Company Inc. (JCP - Free Report) , currently carries a Zacks #2 Rank, implying short term Buy rating on the stock for the next 1-3 months, on the back of rising earnings momentum over the last four quarters.