DSW up Nearly 10% on Strong Earning and Guidance

DSW

is trading higher on the session following its Q1 earnings announcement. The company reported an EPS of $0.98 vs $0.90 estimates and revenues of $558.6 million vs $548.09 million estimates. DSW also raised its full year full year2013 outlook. Mike MacDonald, President and Chief Executive Officer stated: "Solid execution on our strategy has led to continued strength in our business performance, and provides us with a strong platform for sustained growth. Our new stores continue to perform well and we are on track to open 35 to 40 new stores in 2012. We are confident that we will meet our objective of another year of profitable growth and as such as we are raising our full year guidance to $3.25 to 3.40, an increase of $0.05 over our prior guidance of $3.20 to 3.35." DSW is currently trading at $61.17, a gain of $5.37 or 9.62%.