Designer Brands Q3 Profit Misses Estimates, Comps. Up 3.0%; Updates Guidance

(RTTNews) - Designer Brands Inc. (DBI) reported that its third quarter adjusted earnings per share declined to $0.67 from $0.86, prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.72, for the quarter. Analysts' estimates typically exclude special items.

Net income declined to $45.17 million from $80.18 million, previous year. Earnings per share was $0.65 compared to $1.04.

Consolidated net sales increased to $865.02 million from $853.47 million, a year ago. Analysts on average had estimated $871.54 million in revenue. Comparable sales were up 3.0%, for the quarter.

For full year 2022, the company now expects earnings per share in a range of $1.75 - $1.80, revised from prior guidance range of $2.05 - $2.15.

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