Designer Brands reports Q3 adjusted EPS 38c, consensus 18c

Reports Q3 revenue $752.41M, consensus $763.4M. Total comparable sales decreased by 2.4%. “Our third quarter performance represents another meaningful step forward in our transformation, as we demonstrated continued sequential improvement across multiple financial and operating metrics,” stated Doug Howe, CEO. “Stronger consumer demand and improved in-store execution drove improved comparable sales in the third quarter compared to the second quarter. Our team also delivered a meaningful increase in gross profit and diligently managed expenses, which helped drive an increase in operating income over last year.”