Designer Brands Q3 Adj. EPS $0.24 Misses $0.48 Estimate, Sales $786.33M Miss $829.18M Estimate
Portfolio Pulse from Benzinga Newsdesk
Designer Brands Inc. (DBI) reported Q3 adjusted earnings per share (EPS) of $0.24, which is significantly below the analyst consensus estimate of $0.48, representing a 50% miss. Year-over-year, this is a 64.18% decrease from the $0.67 EPS reported in the same quarter last year. Quarterly sales were also below expectations at $786.33 million, missing the consensus estimate of $829.18 million by 5.17% and marking a 9.10% decrease from the previous year's sales of $865.02 million.
December 05, 2023 | 11:46 am
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Designer Brands Inc. (DBI) reported a significant miss in Q3 earnings and sales compared to analyst estimates, with a substantial year-over-year decline in both metrics.
The substantial miss in both earnings and sales compared to analyst expectations, along with the significant year-over-year decline, is likely to negatively impact investor sentiment and the stock price of DBI in the short term.
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