Designer Brands Q3 EPS $0.65, lowers FY2022 EPS guidance to $1.75-$1.80

Designer Brands Inc.

2022-Q3 EPS reported $1.60 revenue$2,554,882,000

Net sales $865.0M (+1.4% YoY); comparable sales up 3.0% on top of 40.8% last year.
Gross margin fell to 33.0% from 36.7% YoY; reported EPS $0.65, adjusted EPS $0.67.
FY2022 diluted EPS guidance cut from $2.05-$2.15 to $1.75-$1.80; comparable sales guidance reaffirmed mid-single digits.
Received $120.3M income tax refund in Nov 2022; debt $415.5M vs $227.9M last year.
Repurchased 1.3M shares for $19.1M in Q3; dividend of $0.05 payable Dec 28, 2022.

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