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 (DBI) delivers footwear innovation through its integrated retail platforms and brand partnerships. This news hub provides investors and industry professionals with direct access to official corporate communications, financial disclosures, and strategic developments.
Track critical updates including quarterly earnings reports, leadership changes, supply chain initiatives, and partnership announcements. Our curated collection features press releases from DBI's U.S./Canada retail operations and Brand Portfolio segment, alongside market analyses relevant to omni-channel retail strategies.
Key content categories include financial performance updates, store expansion plans, e-commerce enhancements, and sustainability initiatives. Bookmark this page for streamlined monitoring of DBI's evolving position in competitive footwear markets, supported by timely filings and verified corporate statements.
Designer Brands Inc. (NYSE: DBI) has launched the Designer Brands Foundation, reinforcing its commitment to community service. The foundation aims to empower individuals by removing barriers and helping them 'put their best foot forward'. It focuses on three areas: empowerment, inclusion, and local communities. The foundation is primarily funded by DBI and customer donations.
Key initiatives include:
- A $50,000 donation to Girls on the Run International
- Soles4Souls Back to School Campaign with over $4 million donated to date
- An additional $1 million commitment for 2024
- $100,000 pledged for community grants in its first year
The foundation represents a strategic approach to DBI's philanthropic efforts, aiming to create lasting change in communities where its associates live and work.
Designer Brands Inc. (NYSE: DBI) reported its Q1 2024 financial results, showing a 0.6% increase in net sales to $746.6 million. Despite this, total comparable sales decreased by 2.5%. Gross profit grew to $245.1 million, with a gross margin of 32.8%, up from 32.0% last year. The company reported a net income of $0.8 million, or $0.01 EPS, influenced by restructuring and integration costs. Adjusted net income stood at $4.8 million, or $0.08 EPS. Cash and equivalents were $43.4 million, down from $50.6 million last year, while debt increased to $476.1 million from $390.3 million. Inventory levels decreased to $620.5 million. DBI opened one store in the U.S. and acquired 28 Rubino stores in Canada, bringing the total to 675 stores. The company reaffirmed its 2024 guidance of low-single-digit net sales growth and adjusted EPS of $0.70-$0.80.
Designer Brands (NYSE: DBI) appoints Sarah Crockett as Chief Marketing Officer of DSW Designer Shoe Warehouse, effective June 6, 2024. With extensive experience in global marketing, Crockett will oversee marketing and advertising for nearly 500 U.S. store locations and DSW.com. Her role includes advancing company strategies focused on customer engagement and brand awareness. Crockett's background includes executive roles at Nature's Sunshine, Dickies, and Burton Snowboards.
She joins a leadership team led by CEO Doug Howe and will play a key role in the company's Step Ahead Plan, which aims to prioritize customers and drive transformation. Crockett, a graduate of California State University with a degree in Marketing, also serves on the boards of Rumpl and Stance.
Designer Brands (NYSE: DBI) will release its Q1 2024 earnings on June 4, 2024. A conference call to discuss the results will be hosted at 8:30 am ET, with a press release issued beforehand. The conference call can be accessed via specific dial-in numbers and ID, with a live webcast available online. An archived webcast will be accessible from June 11, 2024. Designer Brands, a major player in the footwear and accessories market, boasts a diverse portfolio, including brands like Crown Vintage and Jessica Simpson. The company operates nearly 640 retail stores in North America and has a significant digital commerce presence. They also contribute to social causes, donating over nine million pairs of shoes globally.
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