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Designer Brands Slashes FY23 Outlook As Q1 Results Miss Estimates

RTTNews | 790 days ago

Designer Brands Slashes FY23 Outlook As Q1 Results Miss Estimates

(RTTNews) - Fashion retailer Designer Brands Inc. (DBI) reported on Thursday that net income attributable to the company for the first quarter more than halved to $11.42 million or $0.17 per share from $26.18 million or $0.34 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.21 per share, compared to $0.48 per share in the year-ago quarter.

Net sales for the quarter declined 10.7 percent to $742.08 million from $830.54 million in the same quarter last year. Comparable sales decreased 10.4 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share on net sales of $754.28 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects earnings in a range of $1.20 to $1.50 per share on net sales decline in the mid- to high-single digits.

Previously, the company expected earnings in a range of $1.65 to $1.75 per share on net sales decline in the mid-single digits.

The Street is looking for earnings of $1.56 per share on net sales of $3.20 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

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Designer Brands Q4 Results Top Estimates

Designer Brands Q4 Results Top Estimates

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.

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Rebound Anticipated For Taiwan Stock Market

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The Taiwan stock market headed south again on Wednesday, one day after ending the two-day losing streak in which it had slipped more than 270 points or 1.2 percent. The Taiwan Stock Exchange now sits just beneath the 23,450-point plateau although it's likely to bounce higher again on Thursday.

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Malaysia Shares Tipped To Open To The Upside

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Japan Stock Market May Crack Resistance At 41,000 Points

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RTTNews | 1h 35min ago

Win Streak May Continue For South Korea Shares

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China Trade Data On Tap For Thursday

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China will on Thursday release July figures for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity.

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