Footwear retailer DSW Inc posted first-quarter results above analysts' estimates, helped by a strong performance at its namesake stores, prompting the company to raise its full-year profit outlook.

Photo: DSW

DSW, which sells branded footwear for men and women at discounted rates, now expects to earn between $3.25 and $3.40 per share for the full year. It earlier forecast a profit of $3.20 to $3.35 per share.

Analysts on average were expecting earnings of $3.31 per share, according to Thomson Reuters I/B/E/S.

Net income for the quarter was $39.9 million, or 89 cents per share, compared with a loss of $38.1 million, or $1.74 per share, last year.

On an adjusted basis, earnings were 98 cents per share, beating analysts' view of 90 cents per share.

Sales jumped 11 percent to $558.6 million, above analysts' expectations of $548.1 million. Same-store sales rose 7.6 percent.

Revenue at DSW stores increased about 13 percent to $521.2 million.

The company, which also has a leased business division, raised its quarterly dividend by 20 percent to 18 cents per share.

Columbus, Ohio-based DSW's shares closed at $55.80 on Monday on the New York Stock Exchange.