Designer Brands Q4 Results Top Estimates

(RTTNews) - Fashion retailer Designer Brands Inc. (DBI) reported on Thursday a net loss attributable to the company for the fourth quarter of $29.70 million or $0.52 per share, compared to net income of $45.11 million or $0.66 per share in the prior-year quarter.

Excluding items, adjusted loss for the quarter were $0.44 per share, compared to adjusted net income of $0.07 per share in the year-ago quarter.

Net sales for the quarter edged down 0.8 percent to $754.35 million from $760.55 million in the same quarter last year. Comparable sales decreased 7.3 percent.

On average, four analysts polled by Thomson Reuters expected the company to report a loss of $0.47 per share on net sales of $747.35 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $0.70 to $0.80 per share on net sales growth in the low-single digits.

The Street is looking for earnings of $0.81 per share on net sales decline of 0.5 percent to $3.05 billion for the year.

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