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), a leading global footwear and accessories retailer, will release its Q4 and full-year 2022 earnings on March 16, 2023. The management's conference call to discuss these results is scheduled for 8:30 AM ET. Investors can participate by dialing 888-317-6003 or accessing the live webcast through a provided link. An archived version of the meeting will be available until March 23, 2023. Designer Brands operates nearly 650 stores across the U.S. and Canada, featuring a robust digital commerce business.
Designer Brands Inc. (NYSE: DBI) has completed the acquisition of Keds, enhancing its portfolio in casual and athleisure footwear. This acquisition includes Keds' ecommerce and wholesale channels, marking a significant expansion into the kids' footwear segment. The company's established relationship with Keds will facilitate growth, supported by an extensive distribution network. Additionally, Designer Brands plans to become the exclusive licensee for Hush Puppies in the US and Canada, expanding its reach in the market. These moves aim to double sales of Owned Brands by 2026, according to CEO Roger Rawlins.
Designer Brands Inc. (NYSE: DBI) announced a CEO transition, with Doug Howe appointed as the new CEO effective April 1, 2023, succeeding Roger Rawlins, who will remain as a Strategic Advisor until March 2024. The transition aligns with the Board's long-term succession plan. Howe, with over 30 years of experience in the retail industry, previously served as President of DSW. The company also reiterated its fiscal 2022 guidance, forecasting mid-single digits for comparable sales growth and diluted EPS of $1.75 - $1.80.
Designer Brands Inc. (NYSE: DBI) has announced its acquisition of Topo Athletic, enhancing its presence in the performance athletic footwear market. Topo, known for its innovative fit and comfort, is expected to drive growth in Designer Brands' premium athletic segment. CEO Tony Post will continue to lead Topo, aligning with Designer Brands' strategy to double sales of its Owned Brands by 2026. The acquisition complements their existing portfolio and capitalizes on the growing demand for athletic shoes, which saw a 25% year-over-year sales increase in Owned Brands.
Designer Brands Inc. (NYSE: DBI) reported its financial results for the third quarter ended October 29, 2022, showcasing a 1.4% rise in net sales to $865.0 million, bolstered by a 3.0% increase in comparable sales. However, gross profit fell to $285.8 million, reducing gross margin to 33.0%. The company received a $120.3 million tax refund in November, enhancing liquidity, although total debt rose to $415.5 million. Designer Brands updated its diluted EPS guidance to $1.75 - $1.80, down from $2.05 - $2.15. Share repurchases totaled 10.7 million shares year-to-date.
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.
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