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) recently celebrated the opening of JEMS by PENSOLE, a footwear factory in Somersworth, New Hampshire, marking a significant milestone in their $2 million investment aimed at enhancing Diversity, Equity & Inclusion in the footwear industry.
This factory, one of the first Black-owned footwear facilities in the U.S., is a collaborative effort with Pensole Lewis College of Business & Design and aims to provide training and career opportunities for underrepresented designers. The initial shoe designs will be available exclusively at DSW stores.
Designer Brands Inc. (NYSE: DBI) reported a strong performance for 2022, with Owned Brands net sales up 32.1% year-over-year. Gross margins improved by 400 basis points compared to 2019, signaling effective brand building. Despite fourth-quarter challenges, including a 7.5% decline in net sales to $760.5 million and a 5.5% drop in comparable sales, the company achieved a diluted EPS of $0.66. Full-year net sales increased by 3.7% to $3.3 billion, with an EPS of $2.26. For 2023, net sales are projected to decline mid-single digits, while additional sales from the Keds acquisition are expected to be $75 million to $85 million.
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.