Categories Earnings, Retail

Designer Brands (NYSE: DBI): Q3 2019 Earnings Snapshot

— Designer Brands, Inc. (NYSE: DBI) reported adjusted earnings of $0.67 per share for the third quarter of 2019, vs. $0.74 per share expected.

— Net income rose to $43.46 million or $0.60 per share from $39.32 million or $0.48 per share in the third quarter of last year

— Total revenues moved up 12% annually to $936.26 million, vs. $935.03 million expected

— Comparable sales increased 0.3%, delivering a two-year comparable sales growth of 7.6%

— Repurchased 1 million shares in the third quarter and 7.1 million shares year-to-date; declared a quarterly dividend of $0.25 per share

— Cut full-year adjusted EPS outlook to $1.50-$1.55 from the previous range of $1.87 to $1.97

— Expects full-year revenue to grow in low double-digit, which is in line with the earlier forecast

— Expects comparable sales growth to be flat in fiscal 2019, down from the earlier forecast

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Also Read:  Infographic: Netflix (NFLX) adds 2.2 mln subscribers in Q3; stock falls on earnings miss

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