Designer Brands: Fiscal Q4 Earnings Snapshot
COLUMBUS, Ohio (AP) _ Designer Brands Inc. (DBI) on Tuesday reported a loss of $134 million in its fiscal fourth quarter.
On a per-share basis, the Columbus, Ohio-based company said it had a loss of $1.85. Losses, adjusted for pretax expenses and restructuring costs, were 53 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 66 cents per share.
The footwear and accessories retailer posted revenue of $609.4 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $630.4 million.
For the year, the company reported a loss of $488.7 million, or $6.77 per share, swinging to a loss in the period. Revenue was reported as $2.23 billion.
Designer Brands shares have more than doubled since the beginning of the year. The stock has risen 61% in the last 12 months.