Core Insights - Designer Brands, owner of Designer Shoe Warehouse, confirmed layoffs occurred last week [1] - The company did not disclose the number of employees affected or departments impacted, nor did it comment on severance or benefits offered [2] - The company aims to simplify its organizational structure to enhance execution, cost management, and long-term value creation [2] Financial Performance - Designer Brands reported a 3.2% year-over-year decrease in net sales, totaling $752.4 million, while comparable sales fell by 2.4% [2] - Net income for Q3 increased by over 46% compared to the previous year, reaching $19.3 million [2] Strategic Focus - CEO Doug Howe emphasized the company's commitment to customer-centric growth through scaling private label, enhancing the wholesale model, and investing in strategic growth brands [3] - The company is focused on delivering a wide range of relevant products across footwear categories to meet customer expectations [3] Leadership Changes - CFO Jared Poff announced his departure after ten years, with Mark Haley serving as interim principal financial officer while a search for a permanent CFO is underway [3]
Designer Brands confirms layoffs
Yahoo Finance·2026-02-05 10:55