RTTNews | Dec 7, 2021 10:20AM EST

10:20 Tuesday, December 7, 2021 (RTTNews.com) - The Ohio-based retail company, Designer Brands Inc. (DBI), is trading 12% higher in the Tuesday market after the company turned to profit in the third quarter, that surpassed the consensus estimates.

The net income reported by the company was $80.2 million or $1.04 earnings per share compared to $40.64 million or $0.56 loss per share. On an adjusted basis, the earnings were $66.6 million or $0.86 earnings per share, compared to a net loss of $18.6 million or $0.26 loss per share last year. On average, six analysts polled by Thomson Reuters estimated the earnings to be $0.56 earnings per share.

For the fourth quarter, RBI expects the revenue to go up low-single digits with earnings in the range of $0.10 to $0.15 per share. Analysts forecast the earnings to be $0.02 for the next quarter.

Following the results, the stock is currently trading at $15.45, up $1.95 or 14.44% since the previous close at $13.50. The stock opened at $13.95 in the morning. In the 52-week period, the shares have ranged between $6.87 and $20.48 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3247488/rbi-jumps-14-on-turning-to-profit-in-q3-beating-street-view.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved