The company's gross profit rose to $245.1 million, up from $237.7 million in the first quarter of fiscal FY23. The gross margin also improved, standing at 32.8 per cent compared to 32.0 per cent for the same period last year.
Designer Brands reported a net income attributable to the company of $0.8 million, translating to diluted earnings per share (EPS) of $0.01. This figure includes net after-tax charges of $0.07 per diluted share from adjusted items, primarily related to restructuring and integration costs, the company said in a media release.
On an adjusted basis, the company reported a net income of $4.8 million, with adjusted diluted EPS of $0.08.
"This quarter, we were pleased to deliver results in line with our expectations for this quarter, as we gain traction on our path to returning Designer Brands to growth," said Doug Howe, chief executive officer. "I am proud of the way our teams are embracing the strategic initiatives that we are implementing across the business as we work to transform into a more efficient and synergistic organisation."
ALCHEMPro News Desk (DP)
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