DBI - Designer Brands lifts FY22 EPS outlook; outlines long-term outlook
Designer Brands (NYSE:DBI) is trading 2.15% higher Friday morning after the company raised its FY22 EPS guidance and provided long-term outlook as part of its Investor Day event. The retailer raised its FY22 EPS outlook range from $1.75 to $1.85 to a range of $1.80 to $1.90. Additionally, the firm laid down a five-year financial roadmap through which it expects to deliver significant bottom-line growth. By FY26, Designer Brands expects to reach revenue of $4B; gross profit margin of 35%; EPS range of $2.75 to $2.85; and generate over $1B of cash from operating activities over the next five years. DBI hopes to achieve this growth by doubling its Owned Brand sales, from 19% of its total revenue to nearly one-third, with majority of that business happening within its own DTC channels. This growth is highly margin accretive and is expected to drive operating margin higher over the longer-term. Furthermore, the
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Designer Brands lifts FY22 EPS outlook; outlines long-term outlook