Designer Brands Q2 Adj $0.29 Misses $0.53 Estimate, Sales $771.90M Miss $816.14M Estimate
Portfolio Pulse from Benzinga Newsdesk
Designer Brands (NYSE:DBI) reported Q2 earnings of $0.29 per share, missing the $0.53 estimate, and sales of $771.90M, below the $816.14M estimate. Earnings decreased by 50.85% and sales by 2.56% compared to last year.
September 11, 2024 | 10:47 am
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Designer Brands reported disappointing Q2 results with earnings and sales missing analyst estimates. EPS fell to $0.29 from $0.59 last year, and sales dropped to $771.90M from $792.22M.
The significant miss on both earnings per share and sales compared to analyst estimates is likely to negatively impact DBI's stock price in the short term. The decrease in both metrics compared to the previous year further adds to the negative sentiment.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100