Designer Brands Looks to Future Growth
The challenging retail industry has forced many companies to make changes to their strategic visions. For shoe retailer Designer Brands (NYSE: DBI), that's included a name change from DSW Shoe Warehouse to reflect the moves that the company has made to diversify and expand its business opportunities.
Coming into its fiscal second-quarter financial report, investors wanted to see signs that Designer Brands would be able to integrate newly acquired businesses to produce greater success. The numbers that the shoe retailer produced weren't all that attractive, but it thinks that the future looks bright for the industry and for its place in it.
Designer Brands' second-quarter results weren't entirely what shareholders were looking to see. Revenue of $860.2 million was higher by 8.2% from the same period a year ago, which was somewhat slower than the nearly 10% growth rate that those following the stock had expected. Adjusted net income of $35.8 million was down almost 30% year over year, and the resulting adjusted earnings of $0.48 per share fell from year-ago levels despite topping the consensus forecast among analysts by $0.01 per share.
Source Fool.com
