Designer Brands' Competition, Seasonal Business Amid Key Problems -- Market Talk

Dow Jones09-13

1826 ET - Designer Brands maintains a strong position as one of the largest fashion footwear retailers in the U.S., but it lacks of earnings per share growth potential, UBS analysts say in a research note. The company's DSW is relatively mature, and it faces increasing competition from other retailer channels. Also, its 2Q report suggests it won't see a recovery in its seasonal business, the analysts add. UBS lowers its FY24 to FY26 earnings per share estimates, as it anticipates its soft growth profile to keep the company from expanding. UBS also cuts its target price to $5.50 from $9 previously. Shares closed up 1.2% to $5.20. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

September 12, 2024 18:26 ET (22:26 GMT)

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UBS lowers its FY24 to FY26 earnings per share estimates, as it anticipates its soft growth profile to keep the company from expanding. UBS also cuts its target price to $5.50 from $9 previously. Shares closed up 1.2% to $5.20. 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