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DSW Steps Up Expansion

NEW YORK CITY-The footwear retailer presence could double in four years.

By Jennifer D. Duell | Updated on September 26, 2005

NEW YORK CITY-Footwear retailer DSW Inc. plans to open 30 new stores per year during the next several years, said EVP and COO Peter Horvath during a presentation at Thomas Weisel Partners Consumer Conference.

Columbus, OH-based DSW, which had its IPO in June, currently has 188 stores in 32 states and will end the year with 199. The footwear retailer, which carries branded shoes in a self-serve environment, recently implemented a statistical methodology to choose its store locations, Horvath said. “We’ve learned that a location might look good to a real estate broker or other retailers, but it might not be the right location for DSW,” he noted.

The retailer shies away from being in the same shopping center with a bookstore, movie theater or furniture store. “They steal customers from us,” Horvath explained, adding that DSW’s target customer–women age 25 to 35 years old–prefer to shop alone and spend 40 minutes to 90 minutes doing the “one-shoe walk” and trying on as many shoes as they want. The retailer prefers co-tenancy with fashion retailers like Old Navy and likes lifestyle centers, Horvath said.

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