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. (DBI) reported record fourth-quarter sales of $822.6 million with a 36.9% increase in comparable sales. For the full year, net sales rose 43% to $3.2 billion, with diluted EPS at $2.00. Gross profit surged to $1.1 billion, enhancing gross margin to 33.4%. The company anticipates high-single-digit comparable sales growth in 2022, projecting diluted EPS between $1.75 and $1.85. Despite closing a few stores, DBI maintains strong liquidity with $72.7 million in cash.
Designer Brands Inc. (NYSE: DBI) announced it will release its fourth quarter and full year 2021 earnings on March 17, 2022. A conference call will follow at 8:30 am E.T. to discuss the results. Investors can join by dialing 888-317-6003 or 412-317-6061 for international calls, using conference ID 9922420. A replay will be available afterward for those unable to attend. The company operates retail locations under the DSW and other brands with a strong presence in the footwear industry.
Designer Brands Inc. (NYSE: DBI) announced a $2 million investment to enhance Diversity, Equity, and Inclusion by partnering with Pensole and Dr. D'Wayne Edwards. This initiative will support the opening of the first Black-owned footwear factory, JEMS, in the U.S., producing shoes designed by PLC graduate students for DSW. CEO Roger Rawlins emphasized the need for representation in the footwear industry, where Black individuals make up less than 5% of designers. This investment aims to break barriers and promote new opportunities for aspiring Black designers.
Designer Brands Inc. (NYSE: DBI) reported a strong third quarter for fiscal 2021, with net sales rising by 30.7% to $853.5 million. Comparable sales jumped 40.8%, while gross profit reached a record $313.6 million, reflecting a gross margin of 36.7%. Net income was $80.2 million, or $1.04 EPS, including benefits from adjusted items. Despite supply chain challenges, the company opened new stores and expects flat to low-single digit sales growth in Q4 2021, with EPS guidance between $0.10 and $0.15.
Designer Brands Inc. (NYSE: DBI) will release its third quarter 2021 earnings on December 7, 2021. A conference call for discussing the results will occur at 8:30 AM ET, with a press release preceding it. Investors can join the call by dialing 888-317-6003 or 412-317-6061 internationally, using conference ID 7726369. The call will be streamed live, and an archived version will be available after the event until February 21, 2022. Designer Brands operates nearly 700 retail locations across its various banners.
Designer Brands Inc. (NYSE: DBI) will participate in two key investor conferences: Goldman Sachs' 28th Annual Global Retailing Conference on September 10 and CL King's 19th Annual Best Ideas Conference on September 14.
Jared Poff, CFO, will deliver a fireside chat on September 10 at 1:40 p.m. ET. On September 14, Roger Rawlins, CEO, will join Poff for another chat at 9:30 a.m. ET. Both sessions will be webcast live via the company's Investor Relations page, with recordings available afterward.
Designer Brands Inc. (NYSE: DBI) reported strong Q2 fiscal 2021 results, with net sales rising 66.9% to $817.3 million compared to the previous year. Comparable sales surged 84.9%, and gross profit increased to $284.7 million, yielding a gross margin of 34.8%. Net income for the quarter was $42.9 million, or $0.55 per share, with adjusted net income at $43.4 million, or $0.56 per share. Despite a reduction in cash reserves to $46.5 million, debt decreased to $247.1 million. The company did not open new stores, closing three locations instead.
Designer Brands Inc. (NYSE: DBI) announced that it will release its second quarter 2021 earnings on August 31, 2021. The earnings call is scheduled for 8:30 am ET, where management will discuss the results. Investors can participate by dialing US: 888-317-6003 or international: 412-317-6061, using conference ID 1270514. A live webcast will also be available, and an archived version can be accessed until September 14, 2021. Designer Brands operates nearly 700 retail locations and produces footwear through Camuto Group.
Designer Brands Inc. (DBI) announced an exclusive distribution partnership with Wolverine Worldwide (WWW) for Hush Puppies in North America. Starting in 2022, DSW Designer Shoe Warehouse will be the sole in-store distributor of Hush Puppies, enhancing its retail presence in the U.S. and Canada. This collaboration aims to align consumer profiles and elevate brand awareness. Hush Puppies will exit other North American retail channels while maintaining online sales. DSW operates over 600 stores and boasts 400 million e-commerce visits annually.
Designer Brands Inc. (NYSE: DBI) has announced two key executive appointments aimed at enhancing its market performance and customer engagement. Debbie Ferrée has been appointed President of Camuto Group, while William Jordan takes on the role of President of Designer Brands. Both leaders will focus on integrating Camuto Group into DBI and enhancing organizational efficiency. The company highlighted the strength of its owned brands that represented 15 of the top 25 selling items at DSW in Q1 2021. CEO Roger Rawlins emphasized the need for strong leadership to navigate the evolving retail landscape.
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