Shares of DSW Inc. rose more than 20 percent on Tuesday after the company posted strong quarterly earnings that topped analyst expectations.
The footwear retailer reported adjusted fiscal second-quarter earnings of 63 cents a share on revenue of $795.3 million. Analysts polled by Reuters expected a profit of 46 cents a share on sales of $689.4 million. Earnings grew by 65.8 percent from the year-earlier period and revenue increased by 16 percent.
The 10.5 million shares traded was more than six times the daily average. The....