Designer Brands shares dropped 1.34% pre-market after the retailer missed revenue targets, despite raising its full-year EPS guidance to a midpoint of $0.50.
Designer Brands raised full-year EPS guidance but missed revenue estimates, causing a 1.34% pre-market drop.
Designer Brands Inc. reported second-quarter adjusted earnings of $0.34 per share, beating analyst expectations of $0.26. Despite the earnings beat and an upward revision to full-year profit guidance, shares fell 1.34% pre-market as quarterly revenue of $730.6 million missed consensus estimates of $745.09 million.
The stock declined because the company's quarterly revenue of $730.6 million fell short of analyst expectations of $745.09 million, overshadowing the positive earnings surprise.