Designer Brands news and archive

Designer Brands lowers full year outlook

Designer Brands’ net sales decreased 2.6 percent to 771.9 million dollars in the second quarter, while comparable sales decreased by 1.4 percent. Lowering its full year outlook, the company said it now expects net sales growth in the flat to low-single digits and adjusted diluted EPS in the range of 50 to 60 cents. "We saw sustained pressure on...

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Designer Brands appoints John Atkinson to its board of directors

Designer Brands has appointed John Atkinson as a member of its board of directors, effective August 1, 2024. The company said Atkinson was also named a member of both the audit committee and the nominating and corporate governance committee. "John’s extensive expertise as a strategic financial counsellor will be fundamental to guiding our path...

Business

Designer Brands reaffirms full year guidance

Designer Brands’ first quarter net sales increased 0.6 percent to 746.6 million dollars, while comparable sales decreased by 2.5 percent. Reaffirming its guidance for the full year, the company said net sales growth is expected to be in low-single digits and adjusted diluted EPS is expected to range between 70 cents to 80 cents. "This quarter,...

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Sarah Crockett to join as DSW’s chief marketing officer

Designer Brands has named Sarah Crockett to the role of chief marketing officer (CMO) of DSW Designer Shoe Warehouse effective June 6, 2024. Reporting to DSW President Laura Denk, Crockett will be responsible for overseeing the planning, development and execution of all marketing and advertising initiatives for the company’s nearly 500 US store...

Business

Designer Brands sees yearly sales drop, plans return to growth

Footwear and accessories group Designer Brands issued its financial results for both the fourth quarter and year ended February 3, 2024, in which sales for the two periods saw a slight drop ahead of an upcoming “transition year”. For Q4, the company’s net sales fell 0.8 percent to 754.3 million dollars, while total comparable sales dropped 7.3...

Fashion Featured

Zalando enhances designer offering and names new ambassador

European fashion and lifestyle e-tailer Zalando is enhancing the “designer experience” on its website and app with a new luxury boutique-style space for designer brands. The revamped ‘Designer’ destination will offer a “fresh and inspirational shopping experience,” explains Zalando, allowing designers to “narrate their story, unveil collections,...

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Andrea O'Donnell to join Designer Brands as EVP and brands president

Designer Brands has appointed Andrea O'Donnell as brands president and executive vice president of the company, with her appointment to be effective as of January 29, 2024. As brands president, the company said, O'Donnell will be globally responsible for Designer Brands' full suite of owned and licensed brands, which includes Keds, Vince Camuto,...

Business

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...

BusinessFeatured

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...