June 18 (Reuters) - Designer Brands Inc DBI.N :
* . REPORTS FIRST QUARTER 2020 FINANCIAL RESULTS
* Q1 ADJUSTED LOSS PER SHARE $1.83
* Q1 LOSS PER SHARE $3.00
* Q1 SALES $482.8 MILLION VERSUS REFINITIV IBES ESTIMATE OF $504.2 MILLION
* Q1 SAME STORE SALES FELL 42.3 PERCENT
* Q1 EARNINGS PER SHARE ESTIMATE $-0.52 -- REFINITIV IBES DATA
* DESIGNER BRANDS - COMPARABLE SALES DECREASED 42.3% DURING Q1
* DESIGNER BRANDS - INVENTORY UNITS ON HAND WERE FLAT AT QUARTER END COMPARED TO SAME PERIOD LAST YEAR
* DESIGNER BRANDS - IS NOT ISSUING GUIDANCE FOR FISCAL 2020 GIVEN RAPIDLY EVOLVING COVID-19 ENVIRONMENT
* DESIGNER BRANDS - EXPECTS TO HAVE NEARLY ALL NORTH AMERICAN STORES OPEN BY END OF JUNE
* DESIGNER BRANDS - IN QUARTER, RECORDED IMPAIRMENT CHARGES OF $112.5 MILLION
* DESIGNER BRANDS - DURING QUARTER, AMENDED $400 MILLION CREDIT FACILITY, INCREASED BORROWINGS BY $203 MILLION
* DESIGNER BRANDS - REACHED ALIGNMENT WITH NEARLY ALL MAJOR VENDORS & LANDLORDS ON PAST-DUE AMOUNTS, EXTENDED GO-FORWARD PAYMENT TERMS
* DESIGNER BRANDS - CASH, INVESTMENTS TOTALED $250.9 MILLION AT Q1 END VERSUS $121.9 MILLION FOR SAME PERIOD LAST YEAR
* DESIGNER BRANDS - AS OF JUNE 18, SUCCESSFULLY REOPENED ABOUT 90% OF TOTAL STORE BASE