DSW Inc. (DSW - Free Report) – a leading footwear and accessories retailer – has yet again come up with new store openings. Once again the company announced four new store inaugurations, which are destined at different locations – Puerto Rico, Peabody in Massachusetts, River Forest in Illinois and Washington D.C.
The store to be opened at the Plaza Carolina Mall in Puerto Rico is the first one in the country. The new store covers an area of about more than 19,000 sq. ft. and will in-house around 31,000 pair of designer shoes for men and women along with various kinds of accessories displayed in the store.
Management is all excited about their first store in Puerto Rico and hopes to receive a positive feedback from the country through their varied range of footwear and accessories offerings.
Further, DSW launched its sixteenth store in Washington D.C. and it is going to be the second to be opened in this month. This store has two floors with around 28,000 pairs of men’s and women’s shoes in-housed, signifying the strong demand for DSW shoes in the city.
The company is very enthusiastic to open two successive stores in Washington D.C. and believes that the city will soon become a desirable destination for shoe lovers.
Of late, DSW has been extensively using its resources to open new stores all over the United States, clearly demonstrating its strong cash position. The company is in sync with its plans of opening as many as 26 new stores in the third quarter of fiscal 2012, which is expected to be accretive for its top line.
We believe that DSW’s aggressive store expansion plans signify the strong demand for its designer shoes and accessories. Moreover, its wedding shop collection provides exclusive assortments for bridal parties and occasions and positions it different from its peers.
In order to attract more customers, DSW offers a wide range of designer shoes at discounted prices for both men and women. Through its free, award-winning loyalty program ‘DSW Rewards,’ it issues certificates to the customers for future purchases at its stores. Moreover, customers receive member-only offers through this program.
Columbus, Ohio-based DSW Inc. operates 363 stores in 41 states as of October 25, 2012, 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. The major competitors of the company are J. C. Penney Company Inc. (JCP - Free Report) and Macy’s Inc. (M - Free Report) .
DSW 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.