Designer Brands Inc. Reports Second Quarter 2020 Financial Results
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Designer Brands Inc. (DBI) Misses Q2 EPS by 43c, Revenues Miss
September 3, 2020 6:47 AM EDTDesigner Brands Inc. (NYSE: DBI) reported Q2 EPS of ($1.28), $0.43 worse than the analyst estimate of ($0.85). Revenue for the quarter came in at $489.7 million versus the consensus estimate of $596.46 million.
Second Quarter Operating Results
Net sales decreased 42.8% to $489.7 million.Comparable sales decreased 42.7% for the second quarter of fiscal 2020 compared to a 0.6% decrease in the second quarter of fiscal 2019.Reported gross margin as a percentage of net sales was 7.6%, or 8.2% on an adjusted basis, as compared to 30.5% on both a reported and adjusted basis for the same period last... More