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Dec. 7, 2021, 7:16 a.m. EST

Designer Brands shares rise after earnings beat

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By Tonya Garcia

Designer Brands Inc. /zigman2/quotes/204656556/composite DBI -3.72% shares rose 3.7% in Tuesday premarket trading after the footwear and accessories retailer reported record third-quarter earnings that beat the Street. Net income totaled $80.2 million, or $1.04 per share, after a loss of $40.6 million, or 56 cents per share, last year. Adjusted EPS of 86 cents beat the FactSet consensus for 56 cents. Sales of $853.5 million were up from $652.9 million but missed the FactSet consensus for $895.6 million. Comparable sales jumped 40.8%, also below the FactSet consensus for 44.5% growth. Designer Brands is the parent company for DSW Designer Shoe Warehouse and designs shoes for Camuto Group. For the fourth quarter, the company expects net sales to be flat to up low-single digits and EPS in the range of 10 cents to 15 cents. The FactSet consensus is for sales of $801 million, implying 31.4% growth, and EPS of 2 cents. Designer Brands stock has soared 76.5% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.89% has gained 22.3% for the period.

/zigman2/quotes/204656556/composite
US : U.S.: NYSE
$ 12.43
-0.48 -3.72%
Volume: 485,805
Jan. 28, 2022 2:53p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$947.00 million
Rev. per Employee
$261,694
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/zigman2/quotes/210599714/realtime
US : S&P US
4,365.09
+38.58 +0.89%
Volume: 1.97B
Jan. 28, 2022 2:53p
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