The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Designer Brands shares have added about 24.9% since the beginning of the year versus the S&P 500's gain of 10.8%. What's Next for Designer Brands? While Designer Brands has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answe ...

Exhibit 99.1 Designer Brands Inc. Reports First Quarter 2024 Financial Results Consolidated gross profit margin rose 80 basis points over the same period last year, driven by the Brand Portfolio Segment Net sales growth in performance and leisure footwear in the U.S. Retail segment outpaced the balance of the footwear market Company reaf irms full year 2024 guidance COLUMBUS, Ohio, June 4, 2024 - Designer Brands Inc. (NYSE: DBI) (the "Company," "we," "us," "our," and "Designer Brands"), one of the world's l ...

Consolidated gross profit margin rose 80 basis points over the same period last year, driven by the Brand Portfolio Segment Dividend On May 15, 2024, the Company's Board of Directors declared a quarterly cash dividend of $0.05 per share of Class A and Class B common shares. The dividend will be paid on June 18, 2024 to shareholders of record at the close of business on June 5, 2024. Store Openings and Closings During the first quarter of 2024, in the United States ("U.S.") we opened one store and in Canada ...

COLUMBUS, Ohio, June 3, 2024 /PRNewswire/ -- Designer Brands Inc. (NYSE: DBI) (the "Company" and "Designer Brands"), one of the world's largest designers, producers and retailers of footwear and accessories, announces a critical hire to support the company's transformational efforts to adapt and curate the best shoes for customers. Sarah Crockett has been named to the role of Chief Marketing Officer ("CMO") of DSW Designer Shoe Warehouse ("DSW") effective June 6, 2024. Sarah CrockettSarah Crockett As CMO of ...

Core Viewpoint - Designer Brands Inc. will release its first quarter 2024 earnings on June 4, 2024, followed by a conference call to discuss the results [1]. Company Overview - Designer Brands is one of the largest designers, producers, and retailers of footwear and accessories globally, with a mission to inspire self-expression [3]. - The company has a diversified portfolio of brands, including Crown Vintage, Hush Puppies, Jessica Simpson, Keds, and others, catering to various consumer needs [3]. - Designer Brands operates nearly 640 DSW Designer Shoe Warehouse and The Shoe Company stores in North America and has a billion-dollar digital commerce business [3]. - The company is committed to advancing diversity, equity, and inclusion in the footwear industry and has donated over nine million pairs of shoes to the non-profit Soles4Souls [3].

Part I [Business](index=5&type=section&id=Item%201.%20Business) Designer Brands operates through U.S. Retail, Canada Retail, and Brand Portfolio segments, aiming to double Owned Brands sales by 2026, supported by its VIP loyalty program - The company operates through three reportable segments: U.S. Retail, Canada Retail, and Brand Portfolio[13](index=13&type=chunk) - A key long-term goal is to double net sales from Owned Brands by 2026, using 2021 as a baseline, with Owned Brands representing **25.8% of consolidated net sales in 2023**, up from **19.6% in 2021**[23](index=23&type=chunk) - The company's VIP loyalty programs are a critical driver of retail sales, with **32.1 million members** generating **90% of the retail segments' net sales in 2023**[19](index=19&type=chunk) - The Brand Portfolio segment sources the majority of its merchandise from **China (76%)** and **Vietnam (10%)**[28](index=28&type=chunk) - As of February 3, 2024, the company employed approximately **14,000 associates worldwide**[32](index=32&type=chunk) [Risk Factors](index=12&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant macroeconomic, operational, external, and stock-related risks, including cybersecurity threats and reliance on foreign sourcing - Macroeconomic pressures, including recession concerns and inflation, adversely impacted consumer discretionary spending and led to lower sales and increased promotional activity in 2023[56](index=56&type=chunk)[57](index=57&type=chunk) - The company faces significant operational risks from potential cybersecurity threats, data breaches, and disruptions to its IT systems, which are integral to its e-commerce and business operations[76](index=76&type=chunk)[77](index=77&type=chunk) - Reliance on foreign-sourced merchandise, particularly from China, exposes the company to international political, economic, and logistical risks[89](index=89&type=chunk) - The Schottenstein Affiliates beneficially own approximately **26% of outstanding common shares**, representing **62% of the combined voting power**, giving them substantial influence over shareholder matters[101](index=101&type=chunk) [Unresolved Staff Comments](index=23&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company has no unresolved staff comments - None[104](index=104&type=chunk) [Cybersecurity](index=23&type=section&id=Item%201C.%20Cybersecurity) Cybersecurity risk oversight is managed by the Technology Committee and led by the DITSC, utilizing third-party assessments and a vendor risk program - Cybersecurity risk oversight is delegated to the Technology Committee of the Board, which regularly reviews risks and management's control measures[105](index=105&type=chunk) - The information security program is led by the Director of IT Security & Compliance (DITSC), who has over **20 years of cybersecurity experience**[106](index=106&type=chunk)[108](index=108&type=chunk) - The company utilizes third-party firms for vulnerability scans and penetration testing and maintains a vendor risk management program to oversee third-party threats[106](index=106&type=chunk) [Properties](index=24&type=section&id=Item%202.%20Properties) The company operates 642 retail stores across the U.S. and Canada, with key owned and leased corporate and distribution facilities Principal Properties as of February 3, 2024 | Facility | Location | Owned/Leased | Segment | Approximate Square Feet | | :--- | :--- | :--- | :--- | :--- | | Principal corporate office | Columbus, Ohio | Owned | Corporate and U.S. Retail | 178,000 | | Distribution center | Columbus, Ohio | Owned | U.S. Retail | 625,000 | | East Coast Logistics Center | Westampton, New Jersey | Leased | U.S. Retail and Brand Portfolio | 683,000 | | U.S. retail stores | 499 various U.S. locations | Leased | U.S. Retail | 9,958,000 | | Canada retail stores | 143 various Canadian locations | Leased | Canada Retail | 1,114,000 | [Legal Proceedings](index=24&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in legal proceedings, but management does not expect a material impact on financial condition or operations - The company states that it does not expect any potential liability from current legal proceedings to be material to its results of operations or financial condition[280](index=280&type=chunk) [Mine Safety Disclosures](index=24&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[112](index=112&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=25&type=section&id=Item%205.%20Market%20for%20the%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) DBI Class A shares trade on NYSE, with a recent dividend declaration and remaining share repurchase authorization, though stock underperformed benchmarks - The Board declared a quarterly cash dividend of **$0.05 per share** on March 14, 2024[116](index=116&type=chunk) - As of February 3, 2024, **$87.7 million** remained available for repurchase under the company's share repurchase program[117](index=117&type=chunk) - During the fourth quarter of fiscal 2023, the company repurchased **192,000 shares** at an average price of **$9.06 per share**, representing shares withheld for tax payments upon vesting of employee stock awards[118](index=118&type=chunk) [Reserved](index=26&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Fiscal 2023 saw decreased net sales and net income due to lower traffic and promotions, alongside strategic acquisitions and new debt issuance Fiscal 2023 Financial Summary | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Net Sales | $3.1 billion | $3.3 billion | | Gross Profit % | 31.7% | 32.6% | | Net Income (attributable to DBI) | $29.1 million | $162.7 million | | Diluted EPS | $0.46 | $2.26 | Comparable Sales Performance (2023 vs 2022) | Segment | 2023 Change | | :--- | :--- | | U.S. Retail | (9.5)% | | Canada Retail | (5.9)% | | Total | (9.0)% | - Net sales decrease was primarily due to lower traffic and increased promotional activity in a competitive landscape, influenced by adverse macroeconomic conditions[124](index=124&type=chunk)[125](index=125&type=chunk)[131](index=131&type=chunk) - The company acquired Keds for **$127.3 million** in cash, funded by available cash and borrowings on the ABL Revolver[141](index=141&type=chunk) - The company entered into a new Term Loan, borrowing **$135.0 million** in 2023[141](index=141&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate risk on variable-rate debt, with a 100 basis point increase impacting annual interest expense by $4.0 million, while foreign currency risk is immaterial - The company is exposed to interest rate risk on its **$301.1 million ABL Revolver** and **$133.1 million Term Loan** borrowings[169](index=169&type=chunk) - A hypothetical **100 basis point increase** in interest rates would add approximately **$4.0 million** to annual interest expense[169](index=169&type=chunk) - Foreign currency exchange risk is considered immaterial[170](index=170&type=chunk) [Financial Statements and Supplementary Data](index=37&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents audited financial statements with an unqualified opinion from Deloitte & Touche LLP, highlighting inventory valuation as a critical audit matter - The independent auditor, Deloitte & Touche LLP, issued an unqualified opinion on the financial statements and the effectiveness of internal controls over financial reporting[173](index=173&type=chunk) - A critical audit matter was identified concerning the valuation of U.S. Retail segment inventories, specifically the significant estimates required for inventory markdowns[180](index=180&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk) Consolidated Statement of Operations Highlights (in thousands) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Net Sales | $3,074,976 | $3,315,428 | | Gross Profit | $974,886 | $1,079,225 | | Operating Profit | $72,401 | $187,390 | | Net Income Attributable to DBI | $29,062 | $162,676 | | Diluted EPS | $0.46 | $2.26 | Consolidated Balance Sheet Highlights (in thousands) | Metric | Feb 3, 2024 | Jan 28, 2023 | | :--- | :--- | :--- | | Total Current Assets | $777,432 | $789,931 | | Total Assets | $2,076,232 | $2,009,618 | | Total Current Liabilities | $622,271 | $636,126 | | Total Liabilities | $1,713,724 | $1,573,562 | | Total Shareholders' Equity | $359,220 | $432,901 | Consolidated Statement of Cash Flows Highlights (in thousands) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $162,399 | $201,426 | | Net cash used in investing activities | $(182,493) | $(88,117) | | Net cash provided by (used in) financing activities | $10,479 | $(128,479) | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=67&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[294](index=294&type=chunk) [Controls and Procedures](index=67&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of February 3, 2024 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the fiscal year[295](index=295&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of February 3, 2024[296](index=296&type=chunk) [Other Information](index=67&type=section&id=Item%209B.%20Other%20Information) No directors or executive officers adopted or terminated Rule 10b5-1 trading plans in the fourth quarter of fiscal 2023 - No directors or executive officers adopted or terminated a Rule 10b5-1 trading plan in the fourth quarter[299](index=299&type=chunk) [Disclosures Regarding Foreign Jurisdictions that Prevent Inspections](index=67&type=section&id=Item%209C.%20Disclosures%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - Not applicable[300](index=300&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=67&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2024 Proxy Statement - This section incorporates information by reference from the upcoming 2024 Proxy Statement[302](index=302&type=chunk) [Executive Compensation](index=69&type=section&id=Item%2011.%20Executive%20Compensation) Executive and director compensation information is incorporated by reference from the 2024 Proxy Statement - This section incorporates information by reference from the upcoming 2024 Proxy Statement[303](index=303&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=69&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Security ownership and equity compensation plan details are incorporated by reference from the 2024 Proxy Statement - This section incorporates information by reference from the upcoming 2024 Proxy Statement[304](index=304&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=69&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Related party transactions and director independence information is incorporated by reference from the 2024 Proxy Statement - This section incorporates information by reference from the upcoming 2024 Proxy Statement[305](index=305&type=chunk) [Principal Accounting Fees and Services](index=69&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Principal accounting fees and services information is incorporated by reference from the 2024 Proxy Statement - This section incorporates information by reference from the upcoming 2024 Proxy Statement[306](index=306&type=chunk) Part IV [Exhibits and Financial Statements Schedules](index=69&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statements%20Schedules) This section lists consolidated financial statements and various exhibits filed as part of the Form 10-K - Lists the consolidated financial statements and schedules filed with the report[308](index=308&type=chunk)[309](index=309&type=chunk) - Provides a list of all exhibits filed with the Form 10-K, including material agreements and certifications[311](index=311&type=chunk)[313](index=313&type=chunk)[314](index=314&type=chunk) [Form 10-K Summary](index=74&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company provides no summary under this item - None[317](index=317&type=chunk)

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About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Designer Brands Inc. (NYSE:DBI) Q4 2023 Earnings Conference Call March 21, 2024 8:00 AM ET Company Participants Dustin Hauenstein - SVP of Finance Doug Howe - CEO Jared Poff - CFO Conference Call Participants Mauricio Serna - UBS Dylan Carden - William Blair Dana Telsey - Telsey Group Operator Good morning everyone, and welcome to the Designer Brands, Inc. Fourth Quarter 2023 Earnings Call. [Operator Instructions] Please also note, today's event is being recorded. At this time, I'd like to turn the floor ov ...

Exhibit 99.1 Designer Brands Inc. Reports Fourth Quarter and Fiscal Year 2023 Financial Results Delivered full year 2023 EPS at the high end of guidance range Fourth quarter performance driven by sequential improvement in comparable sales Issues fiscal 2024 guidance reflecting expectations for return to growth COLUMBUS, Ohio, March 21, 2024 - Designer Brands Inc. (NYSE: DBI) (the "Company" and "Designer Brands"), one of the world's largest designers, producers, and retailers of footwear and accessories, ann ...