Designer Brands(DBI) - 2026 Q1 - Quarterly Results

Financial Performance - Net sales for the first quarter of 2025 decreased by 8.0% to $686.9 million compared to the same period in 2024[4] - Total comparable sales decreased by 7.8%, with U.S. Retail segment down 7.3% and Canada Retail segment down 9.2%[17] - Gross profit decreased to $295.1 million, resulting in a gross margin of 43.0%, down from 44.2% in the previous year[4] - The reported net loss attributable to Designer Brands Inc. was $17.4 million, equating to a diluted loss per share of $0.36[4] - Operating loss for the quarter was $7.3 million, compared to an operating profit of $9.4 million in the prior year[21] - Net loss attributable to Designer Brands Inc. was $17.4 million, compared to a net income of $0.8 million in the same quarter last year[21] - Diluted earnings per share for the quarter was $(0.36), a decline from $0.01 in the prior year[21] - Adjusted operating profit (loss) for the quarter was $(0.4) million, down from $14.7 million in the same period last year[25] Cost Management - The company expects to achieve cost savings between $20 million to $30 million throughout 2025[3] Cash and Liquidity - Cash and cash equivalents totaled $46.0 million at the end of the first quarter, an increase from $43.4 million year-over-year[9] - Cash and cash equivalents increased to $46.0 million from $43.4 million year-over-year[23] Store Operations - Total number of stores decreased to 669 from 675 in the previous year, with a total square footage of 11,006 thousand[7] Guidance and Outlook - The company has withdrawn its full-year 2025 guidance due to macroeconomic uncertainty[8] Inventory Management - Inventories at the end of the first quarter were $623.6 million, slightly up from $620.5 million in the same period last year[9] Dividend Declaration - The company declared a dividend of $0.05 per share for both Class A and Class B common shares, payable on June 18, 2025[6] Asset and Liability Overview - Total assets as of May 3, 2025, were $2.09 billion, a decrease from $2.16 billion as of May 4, 2024[23] - Total liabilities increased to $1.82 billion from $1.80 billion year-over-year[23] Sales Metrics - Comparable sales performance metric is a key measurement for management, with e-commerce sales included in the calculation[28]