Designer Brands falls after withdrawing annual forecasts

Shares of footwear retailer Designer Brands DBI.N down 13% at $3.24 premarket

Company withdraws its full-year forecasts, provided in March, due to macroeconomic uncertainty stemming primarily from global-trade policies

Q1 net sales decreased 8% to $686.9 million, co reports adjusted loss per share of 26 cents

Quarterly comparable sales fell 7.8% compared with a 2.5% drop a year ago

We have shifted our near-term focus to amplifying value in our retail channels, preserving margins, controlling costs, and mitigating the impact of tariffs as part of our response to this volatility - CEO Doug Howe

Up to last close, stock has fallen 30.2% YTD