Designer Brands Inc. (NYSE: DBI) reported Q1 EPS of $0.12, $0.30 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $703.2 million versus the consensus estimate of $651 million.

Roger Rawlins, Chief Executive Officer, stated, "Designer Brands is off to a strong start in fiscal 2021, highlighted by our return to profitability for the first time since the onset of COVID-19 and a positive comparable sales increase of 52% for the first quarter. Our success was driven by green shoots in areas of the business that had been previously affected by the pandemic, synergies from our vertical capabilities coming to life, which allowed us to capitalize on positive trends faster than ever before, and our assortment strategy focused on athleisure, kids and seasonal products.

"We remain focused on leveraging the flexibility of our business model, pivoting our assortment to athleisure to better match the purchasing habits of our customers, enhancing our digital capabilities, and strategically managing costs. Looking forward, we are optimistic that the positive trends will continue as the market recovers."

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