Designer Brands news and archive

Designer Brands narrows 2023 outlook

For the third quarter, Designer Brands net sales decreased 9.1 percent to 786.3 million dollars, while comparable sales decreased by 9.3 percent. Gross profit decreased to 256.4 million dollars and gross margin to 32.6 percent, reported net income was 10.1 million dollars or diluted earnings per share of 17 cents. The company’s adjusted net...

Business

Designer Brands post drop in Q2 sales, reiterates outlook

Designer Brands has reported a 7.8 percent drop in net sales in the second quarter of the year. The US footwear and accessories retailer generated sales of 792.2 million dollars in the three months to July 29, down from 859.3 million dollars a year earlier. On a comparable basis, sales were down 8.9 percent. The company’s net profit narrowed to...

Business

Le Tigre steps into footwear through Designer Brands partnership

New York sportswear label Le Tigre has unveiled its first footwear line as part of Designer Brands’ efforts to expand brand capabilities. The retail group initially formed a licensing agreement with Le Tigre in July 2022, alongside its acquisitions of Keds and Topo Athletic, all moves aimed at growing its portfolio and leveraging its...

Business

Designer Brands names Laura Denk as president of DSW

Designer Brands Inc. has appointed Laura Denk as president of Designer Shoe Warehouse (DSW) and executive vice president of Designer Brands, with her appointment to be effective as of July 24, 2023. Denk will report to Designer Brands' chief executive officer, Doug Howe. As president of DSW, the company said in a statement, Denk will be...

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Designer Brands Q1 comparable sales down 10.4 percent

Designer Brands has reported a 10.7 percent decrease in net sales to 742.1 million dollars in the first quarter, while comparable sales decreased by 10.4 percent. The company said gross profit fell to 237.7 million dollars from 275.7 million dollars and gross margin was 32 percent compared to 33.2 percent for the same period last year. Reported...

Business

Designer Brands and Pensole Lewis College inaugurate black-owned footwear factory

Designer Brands, an American footwear and accessory designer, producer and retailer, and Pensole Lewis College of Business and Design (PLC) opened the doors to one of the first black-owned footwear factories in the US this Monday, called ‘JEMS by Pensole’. The factory is located in New Hampshire and marks the brand’s apex of its two million...

Business

Designer Brands posts net sales decrease for Q4

American retail conglomerate Designer Brands has announced its financial results both for Q4 and the year ended January 28, 2023. For the final quarter of 2022, YoY net sales had decreased 7.5 percent to 760.5 million dollars, while comparable sales also saw a decline of 5.5 percent. Meanwhile, the group’s gross profit fell to 222 million...

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Designer Brands acquires Keds brand from Wolverine Worldwide

Designer Brands Inc. has completed the acquisition of Keds from Wolverine Worldwide. "Our growing strength in owned Brands is evident, given that just twelve months ago, the athleisure category was a massive white space opportunity for us, and we now control high-quality brands across multiple price points," said Doug Howe, incoming chief...

Business

Designer Brands outlines CEO transition plan

Fashion conglomerate Designer Brands has announced a planned CEO transition process, set to come into effect April 1, 2023. President of DSW Doug Howe has been named as the company’s new incoming CEO, succeeding Roger Rawlins, who will be stepping down from the position and exiting the group’s board of directors. Rawlins will continue to work...

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Doug Howe to succeed Roger Rawlins as CEO of Designer Brands

Designer Brands Inc. has announced a planned CEO transition process. The company's board has appointed Doug Howe, president of DSW, to succeed Roger Rawlins as the new chief executive officer, effective April 1, 2023. After April 1, 2023, the company said, Rawlins will continue to work with the company for a twelve-month period in a strategic...

Business

Designer Brands buys footwear retailer Topo Athletic

Designer Brands has bought Topo Athletic, a retailer specialising in footwear for running, walking, and hiking. The acquisition will expand Designer Brands’ presence in the “hyper-important” athletic and athleisure space, the company said Monday, and follows its acquisition of LeTigre, which sits in the same category. The cost of the deal was...

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Designer Brands lowers profit outlook

US fashion retailer Designer Brands has cut its full-year profit outlook as it saw a slight uptick in sales in the third quarter of the year. Net sales in the three months to October 29 rose 1.4 percent to 865 million dollars. On a comparable basis, sales were up 3 percent. Net income in the third quarter fell to 45.2 million dollars from 80.2...