Designer Brands Inc. Reports First Quarter 2020 Financial Results
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Designer Brands Inc. (DBI) Report Results Which Shore Up Liquidity Concerns - Needham & Company
June 19, 2020 8:32 AM EDTNeedham & Company analyst Rick Patel reiterated a Buy rating and $9.00 price target on Designer Brands (NYSE: DBI), citing recent 1Q20 results which confirmed the company has enough liquidity to survive NT sales declines, reopenings have ramped up to 80% of the previous year's productivity,... More
Designer Brands Inc. (DBI) Misses Q1 EPS by $1.23, Revenues Beat
June 18, 2020 6:50 AM EDTDesigner Brands Inc. (NYSE: DBI) reported Q1 EPS of ($1.83), $1.23 worse than the analyst estimate of ($0.60). Revenue for the quarter came in at $482.8 million versus the consensus estimate of $481.16 million.
First Quarter Operating Results
Net sales decreased 44.7% to $482.8 million.Comparable sales decreased 42.3% for first quarter of fiscal 2020 compared to a 3.0% increase in the first quarter of fiscal 2019.Reported consolidated gross profit decreased $285.8 million to a loss of $26.5 million in the first quarter as compared to a profit of $259.3 million in the same period last year. This was primarily driven by increased... More