UPDATE: DSW Announces 2-For-1 Stock Split

The Company announced today that it will hold a special meeting of shareholders to seek approval for a 2-for-1 stock split of DSW's common stock. The proposal entails issuing one Class A share for each Class A or Class B share outstanding. If approved by shareholders, the split is expected to create a total of approximately 90.2 million shares, comprised of approximately 81.6 million Class A shares and 8.6 million Class B shares. Currently, the Company has 45.1 million total shares outstanding, which is comprised of 36.5 million Class A shares and 8.6 million Class B shares. The Class A shares will continue to hold one vote per share while the Class B shares will hold eight votes per share. The exact meeting date will be announced in the proxy materials. The proposed stock split will not change the proportion of share ownership of existing shareholders but will reduce the voting control of the Class B shareholders from 65% currently to approximately 46% post-split. In conjunction with the upcoming vote, the Board of Directors approved, subject to shareholder approval, an amendment to the Company's Articles of Incorporation increasing the number of authorized Class A shares from 170 million to 250 million. It is anticipated that DSW shareholders of record at the close of business on Friday, August 16, 2013 will be entitled to vote at the special meeting. We anticipate all actions related to the split to be completed by the end of the Company's third quarter. About DSW Inc. DSW Inc. is a leading branded footwear, handbag and accessories retailer that offers a wide selection of brand name and designer fashion for women, men, and kids. As of August 5, 2013, DSW operates 377 Designer Shoe Warehouse stores in 42 states, the District of Columbia and Puerto Rico, and operates an e-commerce site, http://www.dsw.com, and a mobile website, http://m.dsw.com. DSW also supplies footwear to 351 leased locations in the United States under the Affiliated Business Group. For store locations and additional information about DSW, visit http://www.dswinc.com. Follow DSW on Twitter at http://twitter.com/DSWShoeLovers and like DSW on Facebook at http://www.facebook.com/DSW