Designer Brands, Inc. reported second-quarter earnings fell 26.6 percent on an adjusted basis as same-store sales declined 8.9 percent. Results topped Wall Street estimates with sequential improvement in sales and gross margin over the 2023 first quarter and the outlook for the year was reiterated.
EPS in the quarter ended July 29 was 59 cents, 15 cents better than the analyst estimate of 44 cents a share. Revenue came in at $792.2 million versus the consensus estimate of $787.94 million.
For full details about second quarter results for Designer Brands, including DSW’s comps, Le Tigre’s strong launch and Nike’s early return to the DSW stores, go here:
EXEC: DSW Parent Gets Lift from Casual Offerings, Nike’s Early Return
