Designer Brands (DBI) Q3 Earnings: What To Expect
Stock Story
Published Dec 04, 2023 02:01AM ET
Updated Dec 04, 2023 06:31AM ET
Designer Brands (DBI) Q3 Earnings: What To Expect
Footwear and accessories discount retailer Designer Brands (NYSE:DBI) will be reporting results tomorrow morning. Here's what investors should know.
Last quarter Designer Brands reported revenues of $792.2 million, down 7.8% year on year, in line with analyst expectations. It was an impressive quarter for the company, with optimistic earnings guidance for the full year.
Is Designer Brands buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Designer Brands's revenue to decline 4.9% year on year to $822.8 million, a deceleration on the 1.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.46 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at Designer Brands's peers in the footwear retailer segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Boot Barn (NYSE:BOOT) delivered top-line growth of 6.5% year on year, missing analyst estimates by 0.8% and Genesco (NYSE:GCO) reported revenue decline of 4.1% year on year, missing analyst estimates by 1.6%. Boot Barn traded down 6.2% on the results, and Genesco was down 12.2%.
Read the full analysis of Boot Barn's and Genesco's results on StockStory.
There has been positive sentiment among investors in the footwear retailer segment, with the stocks up on average 11.4% over the last month. Designer Brands is up 15.3% during the same time, and is heading into the earnings with analyst price target of $12.7, compared to share price of $12.4.
The author has no position in any of the stocks mentioned.
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