-=Designer Brands (DBI) reported earnings on Tue 10 Dec 19 (b/o)

Designer Brands misses by $0.07, reports revs in-line; Q3 comps +0.3%; lowers FY20 EPS guidance below consensus 

Reports Q3 (Oct) earnings of $0.67 per share, $0.07 worse than the S&P Capital IQ Consensus of $0.74; revenues rose 12.4% year/year to $936.3 mln vs the $935.03 mln S&P Capital IQ Consensus.

Comparable sales increased 0.3% for third quarter of fiscal 2019 compared to a 7.3% increase in the third quarter of fiscal 2018.

Co issues lowered guidance for FY20, sees EPS of $1.50-1.55 from $1.87-1.97, excluding non-recurring items, vs. $1.88 S&P Capital IQ Consensus.

Roger Rawlins, Chief Executive Officer, stated, "We continued to make progress on our strategic initiatives and the integration of our acquisitions. At the same time, we faced several meaningful headwinds during the third quarter that impacted our results and will likely continue for the upcoming quarters. The near-record warm weather during our largest and most profitable quarter affected every segment of our business. And, while we are extremely proud of the results we've achieved, substantially mitigating the very material footwear tariffs that were recently enacted, the mitigation effort itself has had repercussions which have weighed heavy on our results."