UPDATE 1- Shoe retailer DSW forecasts weak 2nd-qtr earnings
* Sees Q2 adjusted EPS $0.60-$0.64 vs est $0.76
* Keeps 2012 outlook
* Shares fall 13 pct
June 18 (Reuters) - Footwear retailer DSW Inc (DSW.N) forecast second-quarter earnings below analysts' expectations, as higher sales of discounted products crimped margins, sending its shares down as much as 13 percent.
DSW, which sells branded footwear for men and women, expects second-quarter earnings of 60 cents to 64 cents per share, below analysts' estimates of 76 cents per share, according to Thomson Reuters I/B/E/S.
The company, which maintained its fiscal 2012 outlook, also said it would use available cash to buy back up to $100 million of its common stock over the next twelve months under a new repurchase plan.
Shares of the Columbus, Ohio-based company were down 13 percent at $51.16.
(Reporting by Aditi Shrivastava in Bangalore; Editing by Viraj Nair)
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