DSW changes its name to Designer Brands

While chalking out a three-year strategic plan to deliver 2021 adjusted earnings per share in the range of 2.65 dollars to 2.75 dollars, DSW Inc. has also changed it corporate name to Designer Brands Inc. The company now plans to focus on building exclusive brands and products for DSW and The Shoe Company through Camuto Group's design and sourcing capabilities.

“Over the next three years and beyond, we will leverage our integrated enterprise to continue delivering differentiated products and experiences while significantly expanding our gross margin by bringing the production of our private brands in-house through Camuto Group and increasing the sales penetration of all of our produced brands across our retail channels,” said Roger Rawlins, CEO of Designer Brands in a statement.

Designer Brands forecasts FY21 financial objectives and FY19 outlook

For 2021, the company is forecasting to achieve adjusted earnings per share in the range of 2.65 dollars to 2.75 dollars, approximately 5.5 percent revenue CAGR, generate consistent low single-digit comparable store sales growth, improve gross profit by 240 basis points from 2018 level, drive improved operating income across its three segments over the next three years, including: 13 percent operating income CAGR at DSW, 19 percent operating income CAGR at The Shoe Company and 26 million dollars operating income growth at Camuto Group.

For fiscal 2019, the company expects to achieve low double-digit revenue growth as compared to fiscal 2018 revenue of 3.2 billion dollars, which included a 189 million dollars contribution from the Canada Retail segment and a 96 million dollars from the new Brand Portfolio segment. The company anticipates increasing comparable store sales in the low single-digit range.

Fiscal 2019 adjusted earnings per share is expected to range between 1.80 dollars to 1.90 dollars, a year-over-year earnings growth of 5 percent to 11 percent excluding fiscal 2018 losses from the wind-down of operations of exited business and including fiscal 2018 estimated losses for the first quarter of the Canada Retail segment and three quarters of the Branded Portfolio segment.

Picture:Facebook/Designer Brands