Designer Brands Q3 net sales down 9.1%, EPS miss; FY guidance slashed

Designer Brands Inc.

2023-Q3 EPS reported $0.90 revenue$2,320,628,000

Net sales $786.3M (-9.1% YoY); total comparable sales -9.3%; gross margin 32.6% vs 33.0%.
Reported diluted EPS $0.17; adjusted diluted EPS $0.24; net income $10.1M.
Full-year 2023 diluted EPS guidance (ex-Keds) cut to $0.40-$0.70 from $1.20-$1.50; net sales growth lowered to high-single digits decline.
Inventory down 12% to $601.5M; cash $54.6M, debt $375.5M; repurchased 7.6M shares for $79.7M.
CEO Howe cites contracted footwear market and unseasonably warm weather; leadership changes underway.

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 0.95

Designer Brands Inc. reported the quarter ended October 28, 2023 results: revenue $786.3 million, net income $10.1 million, EPS $0.17. Guidance reaffirmed.

Period: the quarter ended October 28, 2023
Revenue: $786.3 million
Net income: $10.1 million
EPS: $0.17
Guidance: reaffirmed
Result: reported results

Exact text from the filing

strong cash flow and ample liquidity." Third Quarter Operating Results (Unless otherwise stated, all comparisons are to the third quarter of 2022) • Net sales decreased 9.1% to $786.3 million. • Total comparable sales decreased by 9.3% . • Gross profit decreased to $256.4 million versus $285.8 million last year, and gross margin was 32.6% compared to 33.0% for the

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Source: SEC EDGAR

accession 0001319947-23-000049

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