Designer Brands' Q4 Earnings Miss Estimates

Designer Brands Inc DBI reported fourth-quarter FY21 sales growth of 35% year-on-year, to $822.6 million, missing the consensus of $839.61 million. Comparable sales grew by 36.9%.
Adjusted EPS of $0.15 missed the consensus of $0.16.
The gross profit margin expanded 870 basis points Y/Y to 30.9%, and the gross profit jumped 88% to $254.2 million.
The operating margin was 2.7%, and operating income for the quarter was $22.5 million.
The company held $72.7 million in cash and equivalents as of January 29, 2022.
Outlook: Designer Brands sees FY22 comparable sales growth in the high-single digits. The company expects FY22 EPS of $1.75 - $1.85.
Price Action: DBI shares are trading lower by 2.92% at $12.48 on the last check Thursday.

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