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Designer Brands Slashes FY23 Outlook As Q1 Results Miss Estimates

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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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New Zealand Jobless Rate Climbs To 5.2% In Q2

New Zealand Jobless Rate Climbs To 5.2% In Q2

The unemployment rate in New Zealand came in at a seasonally adjusted 5.2 percent in the second quarter of 2025, Statistics New Zealand said on Wednesday.

RTTNews | il y a 20 minutes

Taiwan Shares May Head South Again On Wednesday

Taiwan Shares May Head South Again On Wednesday

The Taiwan stock market on Tuesday wrote a finish to 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 above the 23,660-point plateau although it may see renewed consolidation on Wednesday.

RTTNews | il y a 23 minutes

Singapore Stock Market May Spin Its Wheels On Wednesday

Singapore Stock Market May Spin Its Wheels On Wednesday

The Singapore stock market has climbed higher in two straight sessions, gathering more than 50 points or 1.2 percent along the way. The Straits Times Index now sits just beneath the 4,210-point plateau although it may be stuck in neutral on Wednesday.

RTTNews | il y a 53 minutes

Malaysia Bourse May Hand Back Tuesday's Gains

Malaysia Bourse May Hand Back Tuesday's Gains

The Malaysia stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day losing streak in which it had fallen more than 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,540-point plateau and it's likely to remain rangebound again on Wednesday.

RTTNews | il y a 1h 23min

Japan Shares May Turn Lower Again On Wednesday

Japan Shares May Turn Lower Again On Wednesday

The Japan stock market on Tuesday wrote a finish to the two-day slide in which it had tumbled almost 780 points or 1.8 percent. The Nikkei 225 now sits just shy of the 40,550-point plateau although it may head south again on Wednesday.

RTTNews | il y a 1h 38min

South Korea Shares May Be Stuck In Neutral

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The South Korea stock market has moved higher in back-to-back sessions, advancing almost 80 points or 2.7 percent along the way. The KOSPI now sits just shy of the 3,200-point plateau although the rally may stall on Wednesday.

RTTNews | il y a 1h 53min

New Zealand Unemployment Data Due On Wednesday

New Zealand Unemployment Data Due On Wednesday

New Zealand will on Wednesday release Q2 figures for unemployment, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to tick up to 5.3 percent from 5.1 percent following a 0.1 percent loss in employment.

RTTNews | il y a 2h 53min

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