Why Designer Brands Shares Are Jumping Today
Portfolio Pulse from Shivani Kumaresan
Designer Brands Inc (DBI) reported a Q2 FY23 sales decline of 7.8% YoY to $792.2 million, beating the analyst consensus. Adjusted EPS of $0.59 also beat the consensus of $0.44. The company reaffirmed its FY23 EPS outlook of $1.20 - $1.50, against a consensus of $1.29. DBI shares are trading higher by 19.36% at $12.39.
September 07, 2023 | 2:17 pm
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POSITIVE IMPACT
Despite a YoY sales decline, Designer Brands beat analyst expectations for Q2 FY23, leading to a 19.36% increase in share price.
Designer Brands reported better than expected Q2 FY23 results, with both sales and adjusted EPS beating analyst consensus. This positive surprise likely led to the significant increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100