Peter Horvath, president, noted that the company opened 29 newstores in 2006 and implemented a "stronger and more productive realestate strategy" that has established "developer relationships thatbring us access to greater positions in top centers with favorablelease terms."

Horvath continued, "Our access to premium sites, coupled withthe right size and more efficient store format, and opening storesfaster," helped the company boost results. From the day theyopened, he said, stores that debuted in 2006 posted sales per sfabove the chain target of $300 per sf.

Horvath called 2007 "a year of incredible growth and change atDSW." He cited record earnings and sales, record profit margins andrecord inventory turns, pointing out that the company ended theyear with $47 million more cash on the balance sheet.

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