Designer Brands up after raising annual forecasts

Shares of footwear retailer Designer Brands DBI.N were up about 3% at $5.40 in premarket trading after the company raised its full-year 2026 forecasts following a beat on second-quarter profit estimates, helped by higher margins and double-digit growth in its Brand Portfolio business, which includes labels such as Keds and Vince Camuto.

The company now expects annual change in net sales to range from flat to growth of 1%, compared with its prior forecast of a 1% decline to 1% growth. It also sees annual adjusted EPS between $0.47 and $0.52, versus its previous forecast of $0.28 to $0.38.

Designer Brands reported second-quarter EPS of 34 cents, topping analysts' estimates of 26 cents, according to data compiled by LSEG. Quarterly net sales were $730.6 million, compared with expectations of $744.7 million.

Up to the previous close, the stock was down about 30% year to date.