Shares of Designer Brands Inc. DBI, which is the parent of the DSW shoe store chain, dropped 4.2% toward a two-year low in premarket trading Thursday, after the footwear designer, producer and seller reported a surprise fiscal fourth-quarter profit, but revenue that fell well short of expectations. Net income for the quarter to Jan. 28 jumped to $45.1 million, or 66 cents a share, from $14.4 million, or 19 cents a share, in the year-ago period.
2% toward a two-year low in premarket trading Thursday, after the footwear designer, producer and seller reported a surprise fiscal fourth-quarter profit, but revenue that fell well short of expectations. Net income for the quarter to Jan. 28 jumped to $45.1 million, or 66 cents a share, from $14.4 million, or 19 cents a share, in the year-ago period.