1352 ET - Designer Brands is adjusting to an unexpected climate. The owner of the DSW chain saw results in its latest quarter hampered in part by unseasonably warm weather that affected its seasonal category. CEO Doug Howe on an analyst call says the company will pull back further on 4Q receipts in seasonal given ongoing weakness to achieve healthy inventory levels by the end of the year. "Our target for the end of Q4 is to have inventory flat to up low-single digits compared to last year," Howe says. Designer Brands climbs 4.4% following commentary on improving margins as promotions have come down from a year earlier. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
December 10, 2024 13:53 ET (18:53 GMT)
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