Welcome to our dedicated page for Designer Brands news (Ticker: DBI), a resource for investors and traders seeking the latest updates and insights on Designer Brands stock.
Designer Brands Inc. (NYSE: DBI) stands as a prominent player in the global footwear and accessories retail industry. The company operates through three main segments: the U.S. Retail segment, the Canada Retail segment, and the Brand Portfolio segment. Designer Brands is acclaimed for its flagship concept, DSW Designer Shoe Warehouse, which offers a wide range of brand-name and designer shoes and accessories through over 500 stores in the United States and nearly 290 leased departments under the Affiliated Business Group. Additionally, the company extends its reach through its e-commerce platforms, DSW.com and m.dsw.com.
In Canada, Designer Brands operates under various banners such as Town Shoes, The Shoe Company, Shoe Warehouse, and DSW Designer Shoe Warehouse. The company also maintains a global presence with stores in the Middle East through partnerships with the Apparel Group. In a significant stride towards diversity and empowerment, Designer Brands inaugurated the FIRST JEM shoe from the JEMS by PENSOLE brand, marking a milestone as part of a collaboration to uplift underrepresented Black designers in the industry.
Designer Brands' portfolio includes highly sought-after brands like Keds, Lucky Brand, Crown Vintage, Vince Camuto, Topo Athletic, Jessica Simpson, and Le TIGRE. This diversified portfolio is delivered through a robust direct-to-consumer multi-channel infrastructure and a powerful national wholesale distribution network. The company also distributes its brands internationally, leveraging design and sourcing expertise to create private label products for national retailers.
Financially, Designer Brands exhibits resilience despite market challenges. For instance, in the third quarter of 2023, the company faced a reduction in demand due to macroeconomic pressures and unseasonably warm weather but maintained efforts to enhance its assortment and operational agility. The company’s strategic initiatives include refreshing product assortments, launching new marketing campaigns, and making leadership adjustments to sustain long-term growth and liquidity.
In terms of social responsibility, Designer Brands is committed to advancing diversity, equity, and inclusion within the footwear industry. The company has donated over nine million pairs of shoes to the global non-profit Soles4Souls, highlighting its dedication to supporting global communities and environmental sustainability.
Designer Brands Inc. (NYSE: DBI) appointed Rich Paul and Tami J. Fersko as independent directors on November 17, 2022. This expansion increases the Board to eleven members, with eight being independent. Paul, CEO of KLUTCH Sports Group, brings significant brand-building expertise, particularly in athletic and athleisure markets. Fersko, Chief Operations and Supply Chain Officer at Centric Brands, offers extensive experience in supply chain operations, crucial for Designer Brands' growth strategy. The company aims to double sales of its Owned Brands, enhancing its market position in footwear.
Designer Brands Inc. (NYSE: DBI) announced the date for its third quarter 2022 earnings, set to be released on December 1, 2022. A conference call will follow at 8:30 am E.T. to discuss results, with a press release available beforehand. Interested parties can join via a dedicated dial-in number or through a live webcast. An archived version will be available until December 15, 2022.
Designer Brands Inc. (NYSE: DBI) reported a 5.1% increase in net sales to $859.3 million for the second quarter of 2022, building on a strong 6.2% comparable sales growth.
Net income reached $46.2 million, translating to diluted EPS of $0.62. The company raised its full-year diluted EPS guidance from a range of $1.90-$2.00 to $2.05-$2.15.
Notably, net sales from Owned Brands surged by 40.4%, with successful share repurchases totaling 7.8 million shares.
Designer Brands Inc. (NYSE: DBI) announced that it will release its second quarter 2022 earnings on August 31, 2022. A conference call will follow at 8:30 am E.T. to discuss the results. Interested participants can join by calling 888-317-6003 (international: 412-317-6061), using conference ID 0992621, approximately ten minutes before the call. The earnings call will also be webcast live, with an archived version available until September 14, 2022. Designer Brands is known for its extensive portfolio of footwear and operates nearly 650 stores across the U.S. and Canada.
Designer Brands Inc. (NYSE: DBI) announced a strategic investment in and licensing agreement with Le TIGRE 360 Global to enhance its portfolio of Owned Brands. This partnership aims to double sales of Owned Brands by 2026. Designer Brands will exclusively design and produce Le TIGRE footwear, targeting both DSW and The Shoe Company stores, as well as online platforms. Leveraging its direct-to-consumer infrastructure, Designer Brands aims to strengthen its position in the athletic category while appealing to millennial consumers.
Designer Brands Inc. reported an 18.1% increase in net sales for Q1 2022, totaling $830.5 million, with comparable sales rising 15.3%. The relaunch of the Vince Camuto brand boosted sales by 80%. Gross profit improved to $275.7 million, with a gross margin of 33.2%, an expansion of 250 basis points. Operating profit surged approximately 200%. The diluted EPS guidance for 2022 was raised to $1.90-$2.00, reflecting positive growth strategies and partnerships.
Designer Brands Inc. (NYSE: DBI) announced the appointment of Doug Howe as President of DSW Designer Shoe Warehouse and Executive Vice President. This change aims to strengthen the retail brand's focus on customers and speed across its 519 U.S. stores and direct-to-consumer channels. Howe, a retail veteran with over 30 years of experience, previously served as Chief Merchandising Officer at Kohl's. His tenure begins in late May 2022.
Howe's leadership is expected to enhance the differentiated customer experience as Designer Brands continues to develop its portfolio.
Designer Brands Inc. (NYSE: DBI) is set to release its first quarter 2022 earnings report on June 2, 2022. The management will hold a conference call at 8:30 AM E.T. to discuss the results, following a press release that will detail these outcomes. Interested parties can participate by calling 888-317-6003 (international 412-317-6061), referencing conference ID 2325226. The call will also be available as a live webcast, with an archived version accessible until June 16, 2022.
Designer Brands Inc. (NYSE: DBI) has launched a new retail format called "Warehouse Reimagined" in Houston, emphasizing customer experience and brand visibility. This innovative store design showcases both National and Owned Brands, aiming to enhance shopping convenience with improved merchandising and dedicated sections. The company plans to increase Owned Brands sales to nearly 30% by 2026. DSW has also surpassed 6 million pairs of shoes donated to Soles4Souls, reinforcing its commitment to philanthropy.
Designer Brands Inc. (NYSE: DBI) hosted an Investor Day at the New York Stock Exchange, presenting a long-range plan to double sales of Owned Brands by fiscal 2026, targeting an EPS range of $2.75 to $2.85. The company raised its fiscal 2022 EPS outlook from $1.75-$1.85 to $1.80-$1.90 and reinstated a dividend of $0.05 per share for Q1 2022. Management aims for revenue of $4 billion and a gross profit margin of 35% by FY 2026, leveraging customer data from nearly 30 million loyalty members. Cash generation from operations is expected to exceed $1 billion over five years.
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