Designer Brands Raises Outlook, Reinstates Dividend. The Stock Is Rising.
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Signage is displayed outside of a DSW Inc. store in San Francisco, California, U.S., on Monday, May 26, 2014. DSW Inc. is expected to release earnings figures on May 28. Photographer: David Paul Morris/Bloomberg
Photograph by David Paul Morris/Bloomberg
Designer Brands Inc.
said Friday it raised its fiscal 2022 outlook and reinstated its dividend.
Shares of the footwear and accessory brand, which owns retail stores like Designer Shoe Warehouse, climbed more than 2% in premarket trading to $14.25.
Futures for the Dow Jones Industrial Average climbed 130 points, or 0.4%, while S&P 500 futures signaled a start 0.3% into the green and the Nasdaq Composite was set to rise 0.3%.
For the fiscal 2022 full year, Designer Brands (ticker: DBI) now expects EPS to be in the range of $1.80 to $1.90. Previously, it was expecting a diluted EPS in the range of $1.75 to $1.85.
Designer Brands (ticker: DBI) also reinstated its quarterly cash dividend of 5 cents per share of Class A common stock, which will be paid on May 6, 2022 to shareholders of record as of the close of business on April 22, 2022.
The stock has fallen 1.8% so far this year.
Write to Logan Moore at [email protected]