DSW parent Designer Brands raises earnings outlook, reinstates dividend

dsw-parent-designer-brands-raises-earnings-outlook,-reinstates-dividend

Designer Brands Inc. DBI, +1.01% said ahead of its 2022 Investor Day on Friday that it has raised its full-year earnings outlook and has reinstated a quarterly dividend after a two-year COVID-19-related pause. Shares of the DSW Designer Shoe Warehouse store chain were still inactive in premarket trading. The company said it now expects fiscal 2022 earnings per share of $1.80 to $1.90, up from previous guidance of $1.75 to $1.85, and above the FactSet consensus of $1.75. The company also said it targets an EPS range of $2.75 to $2.85 in fiscal 2026. Separately, the company said it will pay a dividend of 5 cents a share on May 6 to shareholders of record on April 22. That will be the first dividend paid since the 10-cent dividend paid in March 2020. The stock has slipped 1.8% year to date, while the SPDR S&P Retail ETF XRT, +0.54% has tumbled 17.0% and the S&P 500 SPX, +0.43% has slipped 5.6%.

Source: Marketwatch

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