(RTTNews) - Designer Brands Inc. (DBI) reported that its third quarter net income attributable to company increased to $13.0 million or $0.24 per share from $10.1 million or $0.17 per share, a year ago. Adjusted earnings per share was $0.27 compared to $0.24. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.35, for the quarter. Analysts' estimates typically exclude special items.
Third quarter net sales decreased 1.2% to $777.2 million. Total comparable sales decreased by 3.1%. Analysts on average had estimated $802.14 million in revenue.
The company has updated its guidance for the full year 2024. Adjusted EPS is now projected in a range of $0.10 - $0.30, revised from prior guidance range of $0.50 - $0.60. Designer Brands net sales is now estimated to decline low single digits, updated from prior guidance range of flat to low-single digits.
Shares of Designer Brands are down 17% in pre-market trade on Tuesday.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
