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.
Summary not available.
Summary not available.
Summary not available.
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 An archived version of the meeting will be available until March 23, 2023.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.
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.