Designer Brands Q1 net sales $742.1M (-10.7% YoY); cuts FY EPS guidance to $1.20-$1.50

Designer Brands Inc.

2023-Q1 EPS reported $0.17 revenue$742,082,000

Net sales $742.1M, down 10.7% YoY; comparable sales down 10.4%; gross margin 32.0% vs 33.2%.
Reported diluted EPS $0.17; adjusted diluted EPS $0.21.
Owned brand penetration rose to 26.7%; acquisitions of Keds, Le Tigre, Topo Athletic noted.
FY2023 guidance cut: net sales growth (ex-Keds) from down mid-single to down mid/high-single digits; EPS $1.20-$1.50 from $1.65-$1.75.
Announces $100M modified Dutch tender offer for share buyback, funded by $135M new term loan.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Designer Brands Inc. reported three months ended April 29, 2023 results: revenue $742.1 million, net income $11.4 million, EPS $0.17. Guidance reaffirmed.

Period: three months ended April 29, 2023
Revenue: $742.1 million
Net income: $11.4 million
EPS: $0.17
Guidance: reaffirmed
Result: reported results

Exact text from the filing

seeking a wide range of styles." First Quarter Operating Results (Unless otherwise stated, all comparisons are to the first quarter of 2022) • Net sales decreased 10.7% to $742.1 million. • Comparable sales decreased by 10.4% . • Gross profit decreased to $237.7 million versus $275.7 million last year, and gross margin was 32.0% compared to 33.2% for the same

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Designer Brands Inc. updated its full year 2023 guidance (lowered).

Period: full year 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

The Company is updating the following guidance for the full year 2023:

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Designer Brands Inc. filing history →

Source: SEC EDGAR

accession 0001319947-23-000030

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