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Article Date: June 2022
Word Count: 460

Designer Brands Lowers Guidance After Strong Q1 Rebound


Net income increased 54% to $26,182,000 from $17,026,000 on net sales that were up 18% to $830,543,000 from $703,155,000 in the first quarter, including a 15.3% comp sales increase on top on last year’s 52.2% rebound. U.S. sales at DSW were up 13% to $702.7 million. Comps expanded by 13.6%, building on a 56.3% gain in the prior year, as traffic increased 22%. Canadian sales were up 39% to $56.3 million, with comps up 41.4%, lapping a 10.0% improvement in the midst of the slower pandemic recovery north of the border.

 

Athletic comps are still reported strong and accounted for 21% ... Log in to view full article.

 


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