DSW Inc. Shareholders Approve 2-for-1 Stock Split
COLUMBUS, Ohio, Oct. 17, 2013
COLUMBUS, Ohio, Oct. 17, 2013 /PRNewswire/ --DSW Inc. (NYSE: DSW), a leading
branded footwear and accessories retailer, announced today that on October 14,
2013, its shareholders approved a 2-for-1 stock split of DSW's common shares,
along with approving an increase in the number of Class A common shares
authorized for issuance. The Company plans to effect the stock split on
November 2, 2013, by filing an amendment to its articles of incorporation.
Each shareholder of record on the effective date will receive one additional
Class A common share for each Class A and Class B common share then held,
without any further action on the part of DSW's shareholders. Shareholders do
not need to exchange existing share certificates and will receive additional
shares as a result of the stock split on November 4, 2013, through the Direct
The Company's Class A common shares trade on the New York Stock Exchange under
the symbol DSW and are expected to trade on a post-split basis at the opening
of trading on November 4, 2013.
Upon completion of the stock split, DSW will have approximately 90.4 million
common shares outstanding, comprised of approximately 82.5 million Class A
common shares and 7.9 million Class B common shares. The Company will report
its third quarter results and its prior year's results on a split-adjusted
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 October 24, 2013, DSW operates 393 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 357 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/DSWShoeLoversand like DSW on Facebook at
Certain statements in this release, including without limitation statements
regarding the consummation, effectiveness, and completion of the stock split
and the timing thereof are "forward-looking statements" within the meaning of
the rules and regulations of the SEC. These statements are based on
management's current expectations and are subject to uncertainty and changes
in circumstances. Actual results may differ materially from those included in
these statements due to a variety of factors, including without limitation (i)
the successful consummation and completion of the stock split and (ii) the
precautionary statements included in DSW's filings with the SEC, including
without limitation the "Risk Factors" section of DSW's most recently filed
annual report on Form 10-K and quarterly reports on Form 10-Q. Although the
Company expects to file the amendment to its articles of incorporation to
effect the stock split as of November 2, 2013, the board of directors reserves
the right, notwithstanding shareholder approval and without further action by
the shareholders, to elect not to proceed with the stock split if, at any time
prior to filing the amendment to the articles of incorporation, the board of
directors, in its sole discretion, determines that it is no longer in the best
interests of the Company and its shareholders to proceed with the stock split.
SOURCE DSW Inc.
Contact: Christina Cheng, Director, Investor Relations, (855) 893-5691
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