==Designer Brands (DBI) reported earnings on Thur 7 Sep 23 (b/o)

 

Designer Brands beats by $0.15, beats on revs; reaffirms FY24 EPS guidance; Q2 comps +8.9%

• Reports Q2 (Jul) earnings of $0.59 per share, $0.15 better than the FactSet Consensus of $0.44; revenues fell 5.4% year/year to $813 mln vs the $787.94 mln FactSet Consensus.
• Q2 Total comparable sales decreased by 8.9%
• Gross profit decreased to $273.4 million versus $295.7 million last year, and gross margin was 34.5% compared to 34.4% for the same period last year.
• Co reaffirms guidance for FY24, sees EPS of $1.20-1.50 vs. $1.29 FactSet Consensus. Co reaffirms FY23 net sales Down mid- to high-single digits (FactSet consensus -6%).