Designer Brands' stock plunges due to lower-than-expected Q1 EPS ($0.08 vs. $0.12) and a 2.5% decline in total comparable sales.
Designer Brands' stock has plunged due to worse-than-expected first-quarter earnings per share, with adjusted EPS of $0.08 missing the consensus estimate of $0.12. Although Q1 revenue grew 0.6% YoY to $746.596M, it saw a 2.5% decline in total comparable sales. The company reaffirmed its full-year guidance for sales growth and EPS, with EPS at the midpoint slightly below analyst expectations of $0.77.
June 04, 2024
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