Designer Brands Swings To Profit In Q2, Tops Estimates - Quick Facts

(RTTNews) - Fashion retailer Designer Brands Inc. (DBI) on Tuesday reported net income for the second quarter of $42.86 million or $0.55 per share, compared to a net loss of $98.21 million or $1.36 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.56 per share, compared to adjusted loss of $1.31 per share in the year-ago quarter.

Net sales for the quarter grew 66.9 percent to $817.34 million from $489.71 million in the same quarter last year. Comparable sales increased 84.9 percent for the second quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share on net sales of $751.21 million for the quarter. Analysts' estimates typically exclude special items.