Designer Brands Slashes FY23 Outlook As Q1 Results Miss 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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Swiss Market Ends Notably Lower

Save for a few minutes about an hour after the opening bell, the Switzerland market stayed weak on Wednesday with several stocks reeling under selling pressure. Investors were cautious amid concerns about the impact of U.S. tariffs, and Donald Trump's fresh threat that his government might consider imposing tariffs on chips and pharmaceuticals.

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European Stocks Close Mostly Higher On Earnings, Fed Rate Cut Hopes

European stocks closed mostly higher on Wednesday, thanks largely to some strong corporate earnings updates, and expectations of an interest rate reduction by the Federal Reserve in September.

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Canadian Stocks Surge Higher Again; TSX Scales New Record High

Canadian stocks are up firmly in positive territory on Wednesday, and the benchmark S&P/TSX Composite Index stays high up after hitting a fresh record. Rising optimism about a rate cut by the Federal Reserve in September, firm oil prices and some upbeat corporate earnings announcements are contributing to the positive mood in the market.

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India Holds Key Interest Rates Steady As Trade Tensions Escalate

The Reserve Bank of India left its key interest rates unchanged on Wednesday after an aggressive cut in June as the economy faces another threat from the US due to its Russian oil imports. The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent. The bank had reduced the rate by 50 basis points in June.

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Bay Street Looks Set To Extend Upmove

Canadian shares look headed for a positive start on Wednesday, riding on some impressive corporate earnings updates, and higher oil prices. The focus will also be on the developments on the trade front.

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Eurozone Retail Sales Recover In June

Euro area retail sales rebounded in June suggesting that household spending likely supported economic growth in the second quarter, official data revealed on Wednesday. Retail sales grew 0.3 percent on a monthly basis in June, offsetting May's 0.3 percent decline, Eurostat said. However, this was marginally weaker than economists' forecast for a 0.4 percent increase.

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Euro Rises As European Shares Traded Higher

The euro strengthened against other major currencies in the European session on Wednesday, as European shares traded higher despite weak factory orders data from Germany and fresh tariff threats from U.S. President Donald Trump on pharma and chips. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.

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EURUSD	1.1659	GBPUSD	1.33598	AUDUSD	0.65045
USDJPY	147.169	USDCAD	1.37387	USDCHF	0.80643

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Designer Brands Slashes FY23 Outlook As Q1 Results Miss Estimates