Designer Brands CFO to exit

Core Insights - Designer Brands is undergoing a leadership change as it searches for a new Chief Financial Officer during a challenging period for the company and the industry [3][5]. Company Performance - The company reported a 4.2% year-over-year decline in second-quarter net sales, totaling $739.8 million, with comparable store sales down by 5% [5]. - U.S.-specific retail sales and comparable sales also experienced a decline, leading the company to refrain from providing forward-looking guidance due to tariff volatility [5]. Tariff Impact - Fluctuating tariff rates and changing consumer spending patterns have raised concerns for Designer Brands this year, with tariffs becoming a more significant cost than initially anticipated [6]. Leadership Transition - Jared Poff, the Chief Financial Officer and Chief Administrative Officer, will leave the company at the end of the month after a decade of service, with Mark Haley stepping in as the interim principal financial officer starting November 1 [7]. - Haley, who joined Designer Brands in 2017, will receive a one-time cash retention bonus of $100,000 for his interim role, which must be repaid if he resigns within 24 months [7].