— Designer Brands Inc. (NYSE: DBI) reported Q4 2019 loss of $0.11 per share, vs. a loss of $0.06 expected.
— Sales fell 1.5% to $829 million, vs. $840 million expected.
— Comparable sales increased 0.7%.
— At quarter-end, the company had 666 stores operating in total.
— US Retail sales increased 0.5% to $658 million.
— Canada Retail sales fell 15% to $57.5 million.
— Brand Portfolio sales increased 3.5% to $103.2 million.
— Due to the COVID-19 situation, the company reduced its dividend to $0.10 per share from $0.25 per share, in order to preserve liquidity. The dividend is payable on April 10, 2020 to shareholders of record on March 30, 2020.
— DBI shares were down 11% in morning trade on Tuesday.
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