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

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                               (Amendment No. 1)*

                                    DSW Inc.
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                    23334L102
                                 (CUSIP Number)

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

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

[X]  Rule 13d-1(b)

[ ]  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).



                                  SCHEDULE 13G

CUSIP No. 23334L102

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1.   Names of Reporting Persons. I.R.S. Identification Nos. of above persons
     (entities only).

     AMVESCAP PLC
     AIM Advisors, Inc.
     AIM Capital Management, Inc.
     Atlantic Trust Company, N.A.
     PowerShares Capital Management LLC
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2.   Check the Appropriate Box if a Member of a Group (see Instructions)

     (a) [ ]
     (b) [ ]
--------------------------------------------------------------------------------
3.   SEC Use Only

--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization

     AMVESCAP PLC: England
     AIM Advisors, Inc.: United States
     AIM Capital Management, Inc.: United States
     Atlantic Trust Company, N.A.: United States
     PowerShares Capital Management LLC: United States
--------------------------------------------------------------------------------
                     5.   Sole Voting Power 2,355,866: Such shares are held by
                          the following entities in the respective amounts
                          listed:

                          AIM Advisors, Inc.: 1,956,088
                          AIM Capital Management, Inc.: 342,133
                          Atlantic Trust Company, N.A.: 500
                          PowerShares Capital Management LLC: 57,145
                     -----------------------------------------------------------
                     6.   Shared Voting Power
 Number of Shares
Beneficially Owned        -0-
 by Each Reporting   -----------------------------------------------------------
    Person With      7.   Sole Dispositive Power 2,355,866: Such shares are held
                          by the following entities in the respective amounts
                          listed:

                          AIM Advisors, Inc.: 1,956,088
                          AIM Capital Management, Inc.: 342,133
                          Atlantic Trust Company, N.A.: 500
                          PowerShares Capital Management LLC: 57,145
                     -----------------------------------------------------------
                     8.   Shared Dispositive Power

                          -0-
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     2,355,866
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
     Instructions)

     N/A
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

     14.52%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)

     IA, HC. See Items 2 and 3 of this statement.
--------------------------------------------------------------------------------



                                  SCHEDULE 13G

Item 1(a) Name of Issuer:

          DSW Inc.

Item 1(b) Address of Issuer's Principal Executive Offices:

          4150 East Fifth Avenue
          Columbus, OH 43219

Item 2(a) Name of Person Filing:

          AMVESCAP PLC

          In accordance with Securities and Exchange Commission Release No.
          34-39538 (January 12, 1998), this statement on Schedule 13G or
          amendment thereto is being filed by AMVESCAP PLC ("AMVESCAP"), a
          U.K. entity, on behalf of itself and its subsidiaries listed in Item
          4 of the cover of this statement. AMVESCAP through such subsidiaries
          provides investment management services to institutional and
          individual investors worldwide.

          Executive officers and directors of AMVESCAP or its subsidiaries may
          beneficially own shares of the securities of the issuer to which
          this statement relates (the "Shares"), and such Shares are not
          reported in this statement. AMVESCAP and its subsidiaries disclaim
          beneficial ownership of Shares beneficially owned by any of their
          executive officers and directors. Each of AMVESCAP's direct and
          indirect subsidiaries also disclaim beneficial ownership of Shares
          beneficially owned by AMVESCAP and any other subsidiary.

Item 2(b) Address of Principal Business Office:

          30 Finsbury Square
          London EC2A 1AG
          England

Item 2(c) Citizenship:

          See the response to Item 2(a) of this statement.

Item 2(d) Title of Class of Securities:

          Common Stock, $.01 par value per share

Item 2(e) CUSIP Number:

          23334L102

Item 3    If this statement is filed pursuant to ss240.13d-1(b) or 240.13d-2(b)
          or (c), check whether the person filing is a:

          (e)  [X]  An investment adviser in accordance with section
                    240.13d-1(b)(1)(ii)(E)

          (g)  [X]  A parent holding company or control person in accordance
                    with section 240.13d-1(b)(1)(ii)(G)

          As noted in Item 2 above, AMVESCAP is making this filing on behalf
          of its subsidiaries listed herein. Each of these entities is either
          an investment adviser registered with the United States Securities
          and Exchange Commission under Section 203 of the Investment Advisers
          Act of 1940, as amended, or under similar laws of other
          jurisdictions. AMVESCAP is a holding company.



Item 4    Ownership:

          Please see responses to Items 5-8 on the cover of this statement,
          which are incorporated herein by reference.

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 [ ]

Item 6    Ownership of More than Five Percent on Behalf of Another Person:

          N/A

Item 7    Identification and Classification of the Subsidiary Which Acquired
          the Security Being reported on By the Parent Holding Company:

          Please see Item 3 of this statement, which is incorporated herein by
          reference.

Item 8    Identification and Classification of Members of the Group:

          N/A

Item 9    Notice of Dissolution of a Group:

          N/A

Item 10   Certification:

          By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were acquired and are held
          in the ordinary course of business and 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
                                        Date

                                        AMVESCAP PLC


                                        By: /s/ Lisa Brinkley
                                            ------------------------------------
                                            Lisa Brinkley
                                            Global Compliance Director



                                INDEX TO EXHIBIT

EXHIBIT NUMBER             DESCRIPTION
--------------             -----------

     A                     JOINT FILING AGREEMENT