Designer Brands Q1: Earnings Miss, Lowered Guidance, Progress On Strategic Plans & More
Portfolio Pulse from Shivani Kumaresan
Designer Brands Inc (NYSE: DBI) reported a 10.7% YoY decline in Q1 FY23 sales to $742.08 million, missing analyst estimates. Adjusted EPS of $0.21 also missed the consensus of $0.23. The company lowered its FY23 EPS guidance to $1.20 - $1.50 from $1.65 - $1.75.
June 08, 2023 | 12:50 pm
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Designer Brands reported lower Q1 sales and missed EPS estimates, leading to a reduction in FY23 EPS guidance.
Designer Brands missed both sales and EPS estimates for Q1, indicating weaker performance. The company also lowered its FY23 EPS guidance, which may negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100