Designer Brands Q1 in line: net sales $746.6M, adj. EPS $0.08, reaffirms FY outlook

Designer Brands Inc.

2024-Q1 EPS reported $0.01 revenue$746,596,000

Net sales $746.6M (+0.6% YoY); total comparable sales -2.5%; gross margin 32.8% (+80bps).
Reported net income $0.8M / diluted EPS $0.01; adjusted net income $4.8M / adjusted diluted EPS $0.08.
Reaffirmed FY2024 guidance: net sales growth low-single digits; adjusted diluted EPS $0.70-$0.80.
Quarterly dividend declared $0.05 per share, payable June 18, 2024 to holders of record June 5.
Ended quarter with $43.4M cash, $476.1M debt; $187.8M available under revolver.

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