DBI - Why Is Specialty Retailer Designer Brands' Stock Plunging Today? | Benzinga
Designer Brands Inc (NYSE:DBI) shares are trading lower after the company reported worse-than-expected first-quarter earnings per share.
The company reported first-quarter FY24 sales growth of 0.6% year-on-year to $746.596 million, beating the analyst consensus estimate of $741.630 million. Total comparable sales decreased by 2.5%.
Adjusted EPS of $0.08 missed the analyst consensus estimate of $0.12.
Gross profit margin expanded 80 basis points Y/Y to 32.8%, and the gross profit climbed ...