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Designer Brands Raises Full Year Guidance After Second Quarter Report

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Core Development: Designer Brands Raises Full Year Guidance After Second Quarter Report
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Shares of Designer Brands Inc. rose Thursday in pre-market trading after the company raised its full year guidance.

For the second quarter ended Aug. 1, net income jumped 66.7 percent to $17.6 million, or 31 cents a diluted share, from $10.5 million, or 21 cents, a year ago. On an adjusted basis, diluted EPS was 34 cents. Net sales slipped 1.2 percent to $730.6 million from $739.8 million, while comparable sales fell by 2.4 percent.

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