In a report released yesterday, Tom Nikic from Wells Fargo maintained a Sell rating on Designer Brands (DBI). The company’s shares closed last Wednesday at $7.90.
According to TipRanks.com, Nikic is a 4-star analyst with an average return of 13.4% and a 66.7% success rate. Nikic covers the Consumer Goods sector, focusing on stocks such as Deckers Outdoor, Under Armour, and Foot Locker.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Designer Brands with a $5.15 average price target.
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Based on Designer Brands’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $490 million and GAAP net loss of $98.21 million. In comparison, last year the company earned revenue of $856 million and had a net profit of $27.41 million.
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Designer Brands, Inc. engages in the design, production, and retail of footwear and accessory brands. It operates through the following segments: U.S. Retail, Canada Retail, Brand Portfolio, and Others. The U.S. Retail segment focuses on stores operated in the U.S. under the DSW Designer Shoe Warehouse banner and its related e-commerce site. The Canada Retail segment comprises stores operated in Canada under The Shoe Company, Shoe Warehouse, and DSW Designer Shoe Warehouse banners and related e-commerce sites. The Brand Portfolio segment includes sales from wholesale, First Cost, and direct-to-consumer e commerce sites. The Other segment refers to the ABG and Ebuys business. The company was founded on January 20, 1969 and is headquartered in Columbus, OH.
