Analyst Lowers Expectations For Designer Brands Before Earnings Amid Expected Sales Decline
Portfolio Pulse from Shivani Kumaresan
Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating on Designer Brands Inc (NYSE:DBI) and lowered the price target from $12 to $8. The analyst reduced 1Q23 estimates due to anticipated consumer demand weakness and expects sales to decline 8.6% Y/Y to $759 million. FY23 EPS estimate is lowered to $1.65 from $1.70, and sales to decline 4.1% Y/Y to $3.1 billion.
June 06, 2023 | 6:05 pm
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Telsey Advisory Group lowered Designer Brands Inc's price target from $12 to $8, citing anticipated consumer demand weakness and sales decline. The analyst expects 1Q23 sales to decline 8.6% Y/Y to $759 million and FY23 sales to decline 4.1% Y/Y to $3.1 billion.
The lowered price target and reduced sales estimates by Telsey Advisory Group indicate a negative outlook for Designer Brands Inc. The anticipated consumer demand weakness and sales decline in both 1Q23 and FY23 are likely to have a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100