First Brands Group debt targeted by Apollo Global Management - report
Investing.com -- Designer Brands (NYSE:DBI) posted second-quarter results that beat analyst expectations, sending its shares rising around 13% in premarket trading Tuesday.
The shoe store chain reported Q2 earnings per share (EPS) of $0.34, surpassing the consensus expectations of $0.14.
Revenue came in at $739.8 million, ahead of the $730.6 million consensus. Comparable sales fell 5% in the quarter year-over-year, but improved sequentially.
"Our second quarter results were highlighted by a 280-basis point sequential improvement in comparable sales from the first quarter, underscoring the impact of our targeted operational initiatives," stated Doug Howe, CEO of Designer Brands.
"These initiatives supported a strong start to the back-to-school season within the U.S. Retail segment as well as gradual improvements in traffic and a notable uptick in conversion."
The company said it will not reinstate full-year 2025 guidance, citing macroeconomic uncertainty tied mainly to global trade policies.
"While consumer sentiment has ticked up slightly, given the ongoing macroeconomic volatility with recent extended tariff increases and caution in discretionary spending, there is still a notable amount of uncertainty," Howe said.