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. reports developments tied to its footwear and accessories retail and brand portfolio businesses. The company operates DSW stores and e-commerce in the United States and Canada, and also sells through The Shoe Co. and Rubino banners in Canada.
Recurring news for DBI includes quarterly and annual results, comparable sales, gross margin, inventories, debt and liquidity under its asset-based credit facility, dividend declarations, store counts, and operating guidance. Company updates also cover omnichannel initiatives such as delivery partnerships, brand activity across Vince Camuto, Keds and Topo, and changes in senior finance and operating leadership.
S&P Dow Jones Indices will implement index changes effective prior to trading on September 23, 2024 as part of its quarterly rebalance. Palantir (PLTR), Dell (DELL) and Erie Indemnity (ERIE) join the S&P 500; multiple companies move among the S&P 500, MidCap 400 and SmallCap 600.
The table lists additions and deletions by index and GICS sector, including Fabrinet (FN) moving into the S&P MidCap 400 and being removed from the S&P SmallCap 600.
Designer Brands Inc. (NYSE: DBI), a major footwear and accessories company, has announced its second quarter 2024 earnings release date. The company will issue its earnings report on September 11, 2024, followed by a conference call at 8:30 am E.T. to discuss the results. Investors and analysts can participate by dialing 888-317-6003 (US) or 412-317-6061 (international) with conference ID 9337169. A live webcast will be available, with an archived version accessible until September 18, 2024. Designer Brands is a leading designer, producer, and retailer of footwear brands, operating 675 stores across North America and a billion-dollar digital commerce business.
Designer Brands Inc. (NYSE: DBI), a major footwear and accessories company, has appointed John W. Atkinson to its Board of Directors, effective August 1, 2024. Atkinson, a retired KPMG audit partner with over 35 years of experience, will also serve on the Audit Committee and Nominating and Corporate Governance Committee.
Atkinson's expertise in retail and financial accounting is expected to contribute significantly to Designer Brands' strategic growth and efficiency initiatives. His background includes serving as KPMG's Retail National Audit Industry Leader and partner in charge of Audit Risk Management for the Mid-America business unit.
Designer Brands, with its portfolio of brands and 675 retail stores across North America, aims to leverage Atkinson's insights to enhance profitability and organizational agility.
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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