Designer Brands Inc Stock Price, News & Analysis

Designer Brands Inc. (NYSE: DBI) reported strong Q2 fiscal 2021 results, with net sales rising 66.9% to $817.3 million compared to the previous year. Comparable sales surged 84.9%, and gross profit increased to $284.7 million, yielding a gross margin of 34.8%. Net income for the quarter was $42.9 million, or $0.55 per share, with adjusted net income at $43.4 million, or $0.56 per share. Despite a reduction in cash reserves to $46.5 million, debt decreased to $247.1 million. The company did not open new stores, closing three locations instead.

Designer Brands Inc. (NYSE: DBI) announced that it will release its second quarter 2021 earnings on August 31, 2021. The earnings call is scheduled for 8:30 am ET, where management will discuss the results. Investors can participate by dialing US: 888-317-6003 or international: 412-317-6061, using conference ID 1270514. A live webcast will also be available, and an archived version can be accessed until September 14, 2021. Designer Brands operates nearly 700 retail locations and produces footwear through Camuto Group.

Designer Brands Inc. (DBI) announced an exclusive distribution partnership with Wolverine Worldwide (WWW) for Hush Puppies in North America. Starting in 2022, DSW Designer Shoe Warehouse will be the sole in-store distributor of Hush Puppies, enhancing its retail presence in the U.S. and Canada. This collaboration aims to align consumer profiles and elevate brand awareness. Hush Puppies will exit other North American retail channels while maintaining online sales. DSW operates over 600 stores and boasts 400 million e-commerce visits annually.

Designer Brands Inc. (NYSE: DBI) has announced two key executive appointments aimed at enhancing its market performance and customer engagement. Debbie Ferrée has been appointed President of Camuto Group, while William Jordan takes on the role of President of Designer Brands. Both leaders will focus on integrating Camuto Group into DBI and enhancing organizational efficiency. The company highlighted the strength of its owned brands that represented 15 of the top 25 selling items at DSW in Q1 2021. CEO Roger Rawlins emphasized the need for strong leadership to navigate the evolving retail landscape.

Designer Brands Inc. (NYSE: DBI) reported a return to profitability for the first time since COVID-19, with net income of $17.0 million or $0.22 per share. Net sales soared 45.6% to $703.2 million, and comparable sales increased 52.2% in Q1 fiscal 2021. Gross profit surged to $216.1 million from a loss of $26.5 million last year. The gross margin rate improved to 30.7%. Although cash reserves fell to $49.3 million, debt decreased to $337.4 million. The company opened two stores in the U.S. and two in Canada during this quarter.

Designer Brands Inc. (NYSE: DBI) will release its first quarter 2021 earnings on May 26, 2021. Management is set to discuss the results in a conference call at 4:30 PM E.T., with details provided in a press release prior. Investors can participate by calling 888-317-6003 or accessing the live webcast at DBI 1Q21 Earnings Webcast. A replay will be available until June 9, 2021.

Lids has partnered with Designer Brands, Inc. (NYSE: DBI) to introduce licensed sports products in Canada, marking Lids' first entry in the country. The collaboration involves 130 Lids storefronts within 45 locations of DSW Designer Shoe Warehouse and The Shoe Company, featuring shop-in-shop concepts. Customers can expect headwear and jerseys from major Canadian sports teams, with products also available online. This partnership follows Lids' expansion that included the addition of 70 stores during the pandemic and its status as North America's largest headwear retailer.

Designer Brands Inc. (NYSE: DBI) reported a net sales decrease of 26.6% to $609.4 million for Q4 fiscal 2020, alongside a net loss of $134.0 million, or $1.85 per diluted share. Comparable sales shrank 20.1%, a decline from last year’s minor growth. Full-year results showed a 36.0% decline in net sales to $2.2 billion. Gross profit plummeted 69.1% to $311.2 million. Despite these challenges, the company is focusing on stabilizing the business and enhancing digital strategies.

Designer Brands Inc. (NYSE: DBI) will release its fourth quarter and fiscal year 2020 earnings on March 16, 2021. A conference call is scheduled for 8:30 AM E.T. to discuss the financial results, with a press release to precede the call. Investors can participate by calling 888-317-6003 (US) or 412-317-6061 (international), referencing ID 4069853. The call will be streamed live online, and a replay will be available for those unable to attend. Designer Brands operates nearly 700 retail locations under several banners, including DSW.