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) reported a return to profitability for the first time since COVID-19, with net income of $17.0 million or $0.22 per share. Net sales soared 45.6% to $703.2 million, and comparable sales increased 52.2% in Q1 fiscal 2021. Gross profit surged to $216.1 million from a loss of $26.5 million last year. The gross margin rate improved to 30.7%. Although cash reserves fell to $49.3 million, debt decreased to $337.4 million. The company opened two stores in the U.S. and two in Canada during this quarter.
Designer Brands Inc. (NYSE: DBI) will release its first quarter 2021 earnings on May 26, 2021. Management is set to discuss the results in a conference call at 4:30 PM E.T., with details provided in a press release prior. Investors can participate by calling 888-317-6003 or accessing the live webcast at DBI 1Q21 Earnings Webcast. A replay will be available until June 9, 2021.
Lids has partnered with Designer Brands, Inc. (NYSE: DBI) to introduce licensed sports products in Canada, marking Lids' first entry in the country. The collaboration involves 130 Lids storefronts within 45 locations of DSW Designer Shoe Warehouse and The Shoe Company, featuring shop-in-shop concepts. Customers can expect headwear and jerseys from major Canadian sports teams, with products also available online. This partnership follows Lids' expansion that included the addition of 70 stores during the pandemic and its status as North America's largest headwear retailer.
Designer Brands Inc. (NYSE: DBI) reported a net sales decrease of 26.6% to $609.4 million for Q4 fiscal 2020, alongside a net loss of $134.0 million, or $1.85 per diluted share. Comparable sales shrank 20.1%, a decline from last year’s minor growth. Full-year results showed a 36.0% decline in net sales to $2.2 billion. Gross profit plummeted 69.1% to $311.2 million. Despite these challenges, the company is focusing on stabilizing the business and enhancing digital strategies.
Designer Brands Inc. (NYSE: DBI) will release its fourth quarter and fiscal year 2020 earnings on March 16, 2021. A conference call is scheduled for 8:30 AM E.T. to discuss the financial results, with a press release to precede the call. Investors can participate by calling 888-317-6003 (US) or 412-317-6061 (international), referencing ID 4069853. The call will be streamed live online, and a replay will be available for those unable to attend. Designer Brands operates nearly 700 retail locations under several banners, including DSW.
Designer Brands Inc. (NYSE: DBI) reported a 30.1% decline in net sales to $652.9 million for Q3 2020 compared to Q3 2019. Athletic comparable sales increased 5% in the U.S., reflecting a shift towards athletic products. Despite increased markdowns and elevated shipping costs, the company noted improved flexibility aligning with consumer preferences. The net loss for the quarter was $40.6 million, translating to $0.56 loss per diluted share. Cash and investments stood at $114.5 million with inventory down 19%.
Designer Brands Inc. (NYSE: DBI) will release its third quarter 2020 earnings on December 9, 2020. A conference call is scheduled for 8:30 am E.T. to discuss the results, with a press release issued beforehand. Interested parties can join the call by dialing 888-317-6003 or 412-317-6061 internationally, referencing conference ID 8509121. The call will be streamed live online and available for replay. Designer Brands operates nearly 700 retail locations under various brands, including DSW and The Shoe Company.
Designer Brands Inc. (NYSE: DBI), a major footwear and accessories retailer in North America, announced participation in the CL King's Virtual 18th Annual Best Ideas Conference on September 16, 2020, at 3:30 p.m. ET. CEO Roger Rawlins and CFO Jared Poff will engage in a fireside chat during this event. The audio presentation will be available live on the Company's Investor Relations website, with an archive following the event. Designer Brands operates under various banners, including DSW Designer Shoe Warehouse, and has licensing agreements with popular footwear brands.
Designer Brands Inc. (NYSE: DBI) reported a 42.8% decline in net sales to $489.7 million for the second quarter ended August 1, 2020, due to the impacts of the COVID-19 pandemic. The net loss was $98.2 million, or $1.36 per diluted share. Inventory decreased by 37%, aligning with a 43% drop in sales. The company bolstered liquidity through a $250 million secured term loan and a new $400 million revolving credit facility. Despite challenges, management remains confident in adapting inventory and enhancing profitability moving forward.
Designer Brands Inc. (NYSE: DBI) will release its second quarter 2020 earnings on September 3, 2020. Management plans to discuss the results during a conference call at 8:30 AM E.T. Participants can access the call by dialing 888-317-6003 (or 412-317-6061 internationally) and will need the conference ID 9992953. A live webcast of the call will be available online, and an archived version will be accessible until September 17, 2020.
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