Why Designer Brands Stock Was Diving Today [Yahoo! Finance]
Designer Brands Inc. Class A (DBI)
Last designer brands inc. class a earnings: 3/17 06:45 am
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Source: Yahoo! Finance
As a result, the stock was down 13.9% as of 1:10 p.m. ET on the news. Designer Brands continues to shrink In a difficult retail environment, Designer Brands said comparable sales fell 1.4%, leading to a 2.6% decline in revenue to $771.9 million, well below the consensus at $816.1 million. Gross margin in the quarter also shrunk, falling from 34.5% to 32.8% due primarily to weakness in the company's biggest segment, the U.S. retail segment. Overall operating expenses rose 6% to $226.9 million. As a result, profits fell sharply, with adjusted earnings per share (EPS) down from $0.59 to $0.29, missing estimates at $0.53. CEO Doug Howe said, "We saw sustained pressure on challenged categories such as dress and seasonal in the second quarter, which we were able to partially mitigate through providing a greater selection of athletic and athleisure brands in our assortment." He noted that athleisure sales were up 8% in the quarter, and the U.S. segment outperformed the overall foo
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DBI
Earnings
- 9/11/24 - Miss
DBI
Sec Filings
- 11/4/24 - Form 4
- 11/4/24 - Form SC
- 10/31/24 - Form SC
- DBI's page on the SEC website