Designer Brands reports Q2 adjusted EPS 34c, consensus 22c

Reports Q2 revenue $739.76M, consensus $737.85M. Total comparable sales decreased by 5%. “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, Chief Executive Officer. “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. We anticipate our ongoing efforts to strengthen our brand, drive awareness through investments in marketing, and optimize our omni-channel model will continue to support our transformation.”