DSW Inc. Completes Acquisition of Initial Interest in Town Shoes
Company Announces First Quarter Earnings Reporting Date
COLUMBUS, Ohio, May 12, 2014
COLUMBUS, Ohio, May 12, 2014 /PRNewswire/ --DSW Inc. (NYSE: DSW), a leading
branded footwear and accessories retailer, announced the closing of its
initial acquisition of Town Shoes Limited, the largest footwear and
accessories retailer in Canada, for CAD$75.5 million (USD$68.7 million) in
cash. DSW Inc. acquired a 49.2% interest in Town Shoes from certain clients of
Alberta Investment Management Corporation (AIMCo) and other minority
shareholders. DSW Inc.'s initial stake provides 50% voting control and board
representation equal to the primary remaining shareholder, Callisto Capital.
Peter J. Solomon Company served as financial advisor to DSW Inc.
The Company plans to release its first quarter earnings results on Wednesday,
May 28, 2014, before the market opens, with management hosting a conference
call at 8:30 am Eastern Time. Investors and analysts interested in
participating in the call are invited to dial 1-888-317-6003 (passcode:
6100425) in the U.S. or 1-412-317-6061 outside the U.S. approximately ten
minutes prior to the start of the call. The conference call will also be
webcast live at http://dswinc.investorroom.com. A telephone replay of this
call will be available until 9:00 a.m. Eastern Time on June 4, 2014 and can be
accessed by dialing 1-877-344-7529 in the U.S. or 1-412-317-0088 outside the
U.S. and entering conference number 10045789.
About DSW Inc.
DSW Inc. is a leading branded footwear and accessories retailer that offers a
wide selection of brand name and designer dress, casual and athletic footwear
and accessories for women, men and kids. As of May 15, 2014, DSW Inc. will
operate 410 DSW 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 Inc. also supplies footwear to 360 leased locations in
the United States under the Affiliated Business Group. For store locations and
additional information about DSW, visit http://www.dswinc.com.
About Town Shoes Limited
Town Shoes Limited is the largest specialty retailer focused on branded
footwear products in Canada with 182 stores nationwide. Town Shoe stores are
located in leading shopping centers and cater to fashionable customers who
seek the latest styles from the world's leading footwear brands. Town Shoes
was founded over sixty years ago on May 15, 1952 by Leonard Simpson, who
opened the first Town Shoes stores in Sunnybrook Plaza, Canada's first
shopping center. Town is based in Toronto, Ontario. For more information,
The information contained or incorporated by reference in this press release
contains certain forward-looking statements within the meaning of Section 27A
of the Securities Act and Section 21E of the Exchange Act, which are intended
to be covered by the safe harbors created thereby. Those statements include,
but may not be limited to, all statements regarding intent, beliefs,
expectations, projections, forecasts, and plans of the Company and its
management. These forward-looking statements involve numerous risks and
uncertainties, including, without limitation, the ability to recognize the
expected benefits of the investment and the various risks inherent in the
Company's business as set forth in periodic reports filed with the Securities
and Exchange Commission. One or more of these factors could affect the
Company's businesses and financial results in future periods and could cause
actual results to differ materially from plans and projections. Therefore,
there can be no assurance that the forward-looking statements contained or
incorporated by reference in this press release will prove to be accurate. In
light of the significant uncertainties inherent in the forward-looking
statements included or incorporated by reference herein, the Company, or any
other person should not regard the inclusion of such information as a
representation that the objectives and plans of the Company will be achieved.
All forward-looking statements contained or incorporated by reference in this
press release are based on information presently available to the management
of the Company. The Company assumes no obligation to update any
SOURCE DSW Inc.
Contact: Christina Cheng, CFA (855) 893-5691, Senior Director of Investor
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