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DSW

DSW

$22.01

-3.29 (-13.00%)

, DBI

Designer Brands

$0.00

(0.00%)

12:04
03/19/19
03/19
12:04
03/19/19
12:04

DSW announces 3-year strategic priorities, changes name to Designer Brands

DSW presented the company's three-year strategic priorities designed to leverage its unique business model to unlock value and deliver 2021 Adjusted earnings per share in the range of $2.65-$2.75. The company also unveiled its new corporate name -- Designer Brands. The company provided its financial expectations for 2021, as follows: Achieve adjusted earnings per share in the range of $2.65 to $2.75; Achieve approximately 5.5% revenue CAGR; Generate consistent low single-digit comparable store sales growth; Improve gross profit by 240 basis points from 2018 level. For fiscal 2019, which is the 52-week period ending February 1, 2020, the Company expects to achieve low double-digit revenue growth as compared to fiscal 2018 revenue of $3.2 billion, which included a $189 million contribution from the Canada Retail segment and a $96 million contribution from the new Brand Portfolio segment. The Company anticipates increasing comparable store sales in the low single-digit range. Fiscal 2019 adjusted earnings per share is expected to range between $1.80 to $1.90. Effective today, the parent company, DSW Inc. becomes Designer Brands. In conjunction with its corporate name change, Designer Brands will change the company's ticker symbol from "DSW" to "DBI," effective at the start of trading on April 2, 2019, which has been approved by the New York Stock Exchange. As of that date, the "DSW" trading symbol will no longer be active.

DSW

DSW

$22.01

-3.29 (-13.00%)

DBI

Designer Brands

$0.00

(0.00%)

  • 19

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    Mar

DSW DSW
$22.01

-3.29 (-13.00%)

10/11/18
NEED
10/11/18
NO CHANGE
Target $32
NEED
Buy
DSW price target lowered to $32 from $35 at Needham
Needham analyst Rick Patel lowered his price target on DSW to $32 after the company announced the acquisition of Camuto Group for $256M. Beyond the negative short-term impact of the deal's "dilution on new debt and investments needed" however, the analyst is positive on DSW being able to diversify its sales channels and categories, enable growth for proprietary brands, and provide it with access to the "underpenetrated direct-to-consumer business". Patel keeps his Buy rating on DSW.
10/12/18
10/12/18
NO CHANGE
Target $29

Neutral
DSW price target lowered to $29 from $33 at MKM Partners
MKM Partners analyst Patrick McKeever lowered his price target on DSW to $29 and kept his Neutral rating after the company's plans to acquire the operations of Camuto Group and take a 40% joint venture stake in Authentic Brands Group. The analyst states that the deal would be "significantly" accretive in the long term, but in the short run would pose some integration risk given the "poor recent operating performance" of Camuto.
11/16/18
SUSQ
11/16/18
UPGRADE
SUSQ
Neutral
DSW upgraded to Neutral from Negative at Susquehanna
11/16/18
11/16/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst James Faucette saying he thinks consensus estimates now imply a more realistic scenario for QCT margins and that lowered expectations on a resolution with Apple (AAPL) gives room for the stock to react positively should legal proceedings trigger a settlement. 2. Spark Therapeutics (ONCE) upgraded to Neutral from Underperform at Credit Suisse with analyst Martin Auster saying with uniQure's (QURE) update validating AMT-061, its second generation hemophilia B gene therapy construct incorporating the Padua variant, and Freeline's initial data disclosed in ASH abstracts, he sees a more competitive landscape in hemophilia B gene therapy, and lowered his market share assumptions for SPK-9001 to reflect this new dynamic. 3. Armstrong Flooring (AFI) upgraded to Buy from Hold at Gabelli with analsyt Alvaro Lacayo saying the sale of the wood business is a transformative deal and removes two underperforming segments that have been under increased pressure from private label competition. 4. DSW (DSW) upgraded to Neutral from Negative at Susquehanna. 5. PG&E (PCG) and Edison International (EIX) were upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DBI Designer Brands
$0.00

(0.00%)

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