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Highlights:
- Designer Brands announced a dividend of US$0.05 for the ongoing quarter.
- The company organized Investor Day at NYSE on Friday.
- The stock returned more than 14% gains in the last 30 days.
Shares of Designer Brands, Inc. (NYSE:DBI) was up 4% after the company outlined its long-term plans at its 2022 Investor Day event at the New York Stock Exchange (NYSE) on Friday.
The DBI stock soared over 4% after the program started at 9:45 am ET.
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Designer Brands announcements
The Columbus, Ohio-based shoe company plans to double the sales of its proprietary brands through direct-to-consumer channels by fiscal 2026. It expects EPS of US$2.75 to US$2.85.
For fiscal 2022, it raised its EPS guidance in the range of US$1.80 to US$1.90 from its previous forecast of US$1.75 to US$1.85. It also retained a dividend of US$0.05 for Q1, FY22.
Designer Brands is one of the popular shoe companies in the US. It sells branded shoes and fashion accessories to consumers.
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Stock performance and financial highlights:
DBI shares were priced at US$14.62 at 9:42 am ET on April 8, up 4.80% from its previous close of US$13.95. It has a market capitalization of over US$1.00 billion, and its P/E ratio and forward one-year P/E ratio is 6.97 and 7.66, respectively.
The stock saw the highest price of US$20.48 and the lowest price of US$11.24 in the last 52 weeks. Its EPS is US$2.00.
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The company's net sales increased by 35% YoY to US$822.6 million in Q4, FY21, while its reported net income came in at US$14.4 million, or US$0.19 per diluted share.
In fiscal 2021, the company's net sales grew 43% YoY to US$3.2 billion, and its net income was US$154.5 million, or US$2.00 per diluted share.
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Bottom line:
The stock price increased by 14.25% in the past 30 days while declining 4.32% YTD. Analysts expect the retail sector to gain pace as the economy recovers from the current disruptions.
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But, given the elevated inflation and volatility in the market, investors should thoroughly evaluate the company before spending on stocks.
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