DBI - Why Footwear And Accessories Retailer Designer Brands' Shares Are Tumbling Today | Benzinga
Designer Brands Inc. (NYSE:DBI) shares are trading lower Thursday morning after the company reported fourth-quarter FY23 results.
Sales declined by 0.8% Y/Y to $754.3 million, beating the analyst consensus of $747.35 million.
Comparable sales declined by 7.3% in the quarter. Gross profit decreased to $207.4 million from $222.0 million a year ago, with margins of 27.5% vs. 29.2% the prior year.
Adjusted EPS loss was $(0.44), beating the consensus of $(0.47).
Cash and equivalents totaled $49.2 million at the end of 2023. Debt totaled $427.1 million at the end of 2023.
The company ended ...