UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934
                                (Amendment No. 1)




                                    DSW Inc.
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                                (Name of Issuer)

                  Class A Common Stock, no par value per share
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                         (Title of Class of Securities)

                                    23334L102
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                                 (CUSIP Number)

                                December 31, 2006
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             (Date of Event Which Requires Filing of this Statement)


Check the  appropriate box to designate the rule pursuant to which this Schedule
13G is filed:

            [ ] Rule 13d-1(b)
            [X] Rule 13d-1(c)
            [ ] Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.


The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).





CUSIP No.   23334L102
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(1)  Names of Reporting  Persons.  I.R.S.  Identification  Nos. of Above Persons
     (entities only):   Stephen Feinberg
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(2)  Check  the  Appropriate  Box if a  Member of a Group   (See   Instructions)
          (a)   N/A                  (b) N/A
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(3)  SEC Use Only
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(4)  Citizenship or Place of Organization:  United States
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Number of Shares Beneficially Owned by
    Each Reporting Person With          (5)  Sole Voting Power:         644,705*
                                             -----------------------------------
                                        (6)  Shared Voting Power:             0
                                             -----------------------------------
                                        (7)  Sole Dispositive Power:    644,705*
                                             -----------------------------------
                                        (8)  Shared Dispositive Power:        0
                                             -----------------------------------
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(9)  Aggregate Amount Beneficially Owned by Each Reporting Person:   644,705*
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(10) Check if the  Aggregate  Amount in Row (9)  Excludes  Certain  Shares  (See
     Instructions):   N/A
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(11) Percent of Class Represented by Amount in Row (9):  4.0%*
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(12) Type of Reporting Person (See Instructions):  IA, IN
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*As of December 31, 2006 (the  "Reporting  Date"),  Cerberus  Partners,  L.P., a
Delaware limited partnership ("Cerberus"),  holds (A) warrants (the "Convertible
Loan  Warrants")  pursuant to which Cerberus  possesses the right,  from time to
time, in whole or in part,  and subject to certain  conditions  set forth in the
Convertible Loan Warrants to (i) acquire common shares of Retail Ventures,  Inc.
("RVI"),  without par value (the "RVI Common Shares"),  at $4.50 per share, (ii)
acquire,  from  RVI, DSW Inc. ("DSW") Class A Common  Shares,  no par value (the
"DSW  Class A  Shares"),  at $19.00 per share,  or (iii)  acquire a  combination
thereof,  and (B) warrants  (the "Term Loan  Warrants"  and,  together  with the
Convertible Loan Warrants,  the "Cerberus  Warrants") pursuant to which Cerberus
possesses  the right,  from time to time,  in whole or in part,  and  subject to
certain conditions set forth in the Term Loan Warrants to (i) acquire RVI Common
Shares at $4.50 per share, (ii) acquire,  from RVI, DSW Class A Shares at $19.00
per share,  or (iii) acquire a combination  thereof.  Subject to the  limitation
described in this Schedule 13G, as amended, Cerberus has the right to acquire up
to 644,705 DSW Class A Shares upon the full  exercise of the Cerberus  Warrants.
Each of the Cerberus  Warrants,  however,  provides  that in no event shall such
warrant be  exercisable  to the extent  that the  issuance of DSW Class A Shares
upon  exercise,  after  taking into account the DSW Class A Shares then owned by
Cerberus  and its  affiliates,  would  result  in the  beneficial  ownership  by
Cerberus  and its  affiliates  of more  than  9.99%  of  the DSW Class A  Shares
outstanding  immediately after giving effect to such exercise.  Stephen Feinberg
possesses the sole power to vote and the sole power to direct the disposition of
all  securities  held by  Cerberus.  Thus,  as of the  Reporting  Date,  for the
purposes of Reg. Section  240.13d-3,  Stephen Feinberg is deemed to beneficially
own 644,705 RVI Common  Shares,  or 4.0% of the DSW Class A Shares deemed issued
and outstanding as of the Reporting Date.




Item 1(a).  Name Of Issuer:   DSW Inc.

Item 1(b). Address of Issuer's Principal Executive Offices:
           4150 East 5th Avenue, Columbus, Ohio  43219.


Item 2(a). Name of Person Filing:  Stephen Feinberg

Item 2(b).  Address  of  Principal  Business  Office  or,  if  None,  Residence:
            299 Park Avenue, 22nd Floor, New York, New York  10171.

Item 2(c).  Citizenship:  United States

Item 2(d). Title of Class of Securities:
           Class A Common Stock, no par value per share

Item 2(e).  CUSIP No.:  23334L102


Item 3.     If  This  Statement  Is  Filed  Pursuant  to Section 240.13d-1(b) or
            240.13d-2(b) or (c), check whether the Person Filing is a:

            Not Applicable.


Item 4.     Ownership

           (a)  Amount Beneficially Owned (as of December 31, 2006):   644,705*

           (b)  Percent of Class (as of December 31, 2006):             4.0%*

           (c)  Number of Shares as to which such person has:

                (i)  sole power to vote or to direct the vote          644,705*

               (ii)  shared power to vote or to direct the vote              0

              (iii)  sole power to dispose or to direct the
                     disposition of                                    644,705*

               (iv)  shared power to dispose or to direct the
                     disposition of                                          0


*As of December 31, 2006 (the  "Reporting  Date"),  Cerberus  Partners,  L.P., a
Delaware limited partnership ("Cerberus"),  holds (A) warrants (the "Convertible
Loan  Warrants")  pursuant to which Cerberus  possesses the right,  from time to
time, in whole or in part,  and subject to certain  conditions  set forth in the
Convertible Loan Warrants to (i) acquire common shares of Retail Ventures,  Inc.
("RVI"),  without par value (the "RVI Common Shares"),  at $4.50 per share, (ii)
acquire,  from  RVI, DSW Inc. ("DSW") Class A Common  Shares,  no par value (the
"DSW  Class A  Shares"),  at $19.00 per share,  or (iii)  acquire a  combination
thereof,  and (B) warrants  (the "Term Loan  Warrants"  and,  together  with the
Convertible Loan Warrants,  the "Cerberus  Warrants") pursuant to which Cerberus
possesses  the right,  from time to time,  in whole or in part,  and  subject to
certain conditions set forth in the Term Loan Warrants to (i) acquire RVI Common
Shares at $4.50 per share, (ii) acquire,  from RVI, DSW Class A Shares at $19.00
per share,  or (iii) acquire a combination  thereof.  Subject to the  limitation
described in this Schedule 13G, as amended, Cerberus has the right to acquire up
to 644,705 DSW Class A Shares upon the full  exercise of the Cerberus  Warrants.





Each of the Cerberus  Warrants,  however,  provides  that in no event shall such
warrant be  exercisable  to the extent  that the  issuance of DSW Class A Shares
upon  exercise,  after  taking into account the DSW Class A Shares then owned by
Cerberus  and its  affiliates,  would  result  in the  beneficial  ownership  by
Cerberus  and its  affiliates  of more  than  9.99%  of the DSW  Class A  Shares
outstanding  immediately after giving effect to such exercise.  Stephen Feinberg
possesses the sole power to vote and the sole power to direct the disposition of
all  securities  held by  Cerberus.  Thus,  as of the  Reporting  Date,  for the
purposes of Reg. Section  240.13d-3,  Stephen Feinberg is deemed to beneficially
own 644,705 RVI Common  Shares,  or 4.0% of the DSW Class A Shares deemed issued
and outstanding as of the Reporting Date.



Item 5.   Ownership of Five Percent or Less of a Class

          If this  statement  is being  filed to report  the fact that as of the
date hereof the reporting  person has ceased to be the beneficial  owner of more
than five percent of the class of securities, check the following.   [X]


Item 6.   Ownership of More Than Five Percent on Behalf of Another Person

          Not Applicable.


Item 7.   Identification and Classification  of the  Subsidiary  Which  Acquired
          the  Security  Being  Reported on  by the  Parent Holding  Company  or
          Control Person

          Not Applicable.


Item 8.   Identification and Classification of Members of the Group

          Not Applicable.


Item 9.   Notice of Dissolution of Group

          Not Applicable.


Item 10.  Certification

          By  signing  below I certify  that,  to the best of my  knowledge  and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.







                                    Signature

          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.


                                             February 14, 2007



                                             /s/ Stephen Feinberg
                                             -----------------------------------
                                             Stephen  Feinberg,  in his capacity
                                             as the managing member of Cerberus
                                             Associates,  L.L.C.,  the  general
                                             partner of Cerberus Partners, L.P.


      Attention: Intentional misstatements or omissions of fact constitute
                Federal criminal violations (See 18 U.S.C. 1001)