Net income at the DSW parent jumped 28% to $31,194,000 from $24,297,000 in the first quarter ended May 4, on 23% higher sales of $878,515,000 up from $712,102,000 including $90.7 million in incremental revenue from the brand portfolio along with a 3.0% gain in comp store sales. Blended gross margin was up 110 basis points to 30.1% helped by the U.S. retail stores and the impact of the Ebuys exit last year, partially offset by lower brand portfolio margins. DBI shares were up 5% on the better-than-expected results.

The U.S. retail segment, including the DSW banner and Affiliated Business Group, grew ... Log in to view full article.