Designer Brands Inc. Files 2024 10-K Report

Ticker: DBI · Form: 10-K · Filed: Mar 25, 2024 · CIK: 1319947

Sentiment: neutral

Topics: Designer Brands Inc., 10-K Filing, Fiscal Year 2023, Financial Report, Shoe Retail

TL;DR

<b>Designer Brands Inc. has filed its annual 10-K report for fiscal year 2023, detailing financial performance and corporate information.</b>

AI Summary

Designer Brands Inc. (DBI) filed a Annual Report (10-K) with the SEC on March 25, 2024. Designer Brands Inc. filed its 10-K report for the fiscal year ending February 3, 2024. The company's previous name was DSW Inc., with a name change effective March 7, 2005. The filing covers the fiscal year 2023, with data points for fiscal years 2021, 2022, and 2023. Key financial data includes information on common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income. The company is incorporated in Ohio (OH) and operates in the Shoe Stores retail sector (SIC 5661).

Why It Matters

For investors and stakeholders tracking Designer Brands Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Designer Brands Inc.'s financial health, operational performance, and strategic positioning for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. Understanding the detailed financial statements, including revenue, net income, and balance sheet items, allows stakeholders to evaluate the company's profitability, liquidity, and solvency, and to compare its performance against industry benchmarks and prior periods.

Risk Assessment

Risk Level: medium — Designer Brands Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of information, including risk factors, but lacks specific financial performance metrics or forward-looking statements in this excerpt to definitively assess the company's immediate outlook.

Analyst Insight

Review the detailed financial statements and risk factors within the full 10-K filing to understand Designer Brands Inc.'s performance and potential challenges.

Key Numbers

Key Players & Entities

FAQ

When did Designer Brands Inc. file this 10-K?

Designer Brands Inc. filed this Annual Report (10-K) with the SEC on March 25, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Designer Brands Inc. (DBI).

Where can I read the original 10-K filing from Designer Brands Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Designer Brands Inc..

What are the key takeaways from Designer Brands Inc.'s 10-K?

Designer Brands Inc. filed this 10-K on March 25, 2024. Key takeaways: Designer Brands Inc. filed its 10-K report for the fiscal year ending February 3, 2024.. The company's previous name was DSW Inc., with a name change effective March 7, 2005.. The filing covers the fiscal year 2023, with data points for fiscal years 2021, 2022, and 2023..

Is Designer Brands Inc. a risky investment based on this filing?

Based on this 10-K, Designer Brands Inc. presents a moderate-risk profile. The filing is a standard 10-K, which typically contains a broad range of information, including risk factors, but lacks specific financial performance metrics or forward-looking statements in this excerpt to definitively assess the company's immediate outlook.

What should investors do after reading Designer Brands Inc.'s 10-K?

Review the detailed financial statements and risk factors within the full 10-K filing to understand Designer Brands Inc.'s performance and potential challenges. The overall sentiment from this filing is neutral.

How does Designer Brands Inc. compare to its industry peers?

Designer Brands Inc. operates within the retail shoe store industry, a sector characterized by consumer spending trends, fashion cycles, and competition from both online and brick-and-mortar retailers.

Are there regulatory concerns for Designer Brands Inc.?

The filing adheres to the Securities Exchange Act of 1934, requiring public companies to submit annual reports detailing their financial performance and business operations.

Industry Context

Designer Brands Inc. operates within the retail shoe store industry, a sector characterized by consumer spending trends, fashion cycles, and competition from both online and brick-and-mortar retailers.

Regulatory Implications

The filing adheres to the Securities Exchange Act of 1934, requiring public companies to submit annual reports detailing their financial performance and business operations.

What Investors Should Do

  1. Analyze the full 10-K document for detailed financial statements, including revenue, net income, and balance sheet figures.
  2. Examine the risk factors section to identify potential challenges and uncertainties facing Designer Brands Inc.
  3. Compare the reported financial data with previous fiscal years to assess performance trends and growth.

Key Dates

Year-Over-Year Comparison

This excerpt provides the initial filing details and historical company information, but does not contain comparative financial data from the previous filing.

Filing Stats: 4,502 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-03-25 16:03:44

Key Financial Figures

Filing Documents

Risk Factors

Item 1A Risk Factors 8

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 18

Cybersecurity

Item 1C Cybersecurity 18

Properties

Item 2 Properties 19

Legal Proceedings

Item 3 Legal Proceedings 19

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 19 PART II

Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20

[Reserved]

Item 6 [Reserved] 21

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 31

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 32 Report of Independent Registered Public Accounting Firm 32 Consolidated Statements of Operations 34 Consolidated Statements of Comprehensive Income 35 Consolidated Balance Sheets 36 Consolidated Statements of Shareholders' Equity 37 Consolidated Statements of Cash Flows 38 Notes to the Consolidated Financial Statements 39

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 62

Controls and Procedures

Item 9A Controls and Procedures 62

Other Information

Item 9B Other Information 62

Disclosures Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 62 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 62

Executive Compensation

Item 11 Executive Compensation 63

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 63

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 63

Principal Accounting Fees and Services

Item 14 Principal Accounting Fees and Services 63 PART IV

Exhibits and Financial Statements Schedules

Item 15 Exhibits and Financial Statements Schedules 63

Form 10-K Summary

Item 16 Form 10-K Summary 67 S ignatures 68 All references to "we," "us," "our," "Designer Brands," "Designer Brands Inc.," or the "Company" in this Annual Report on Form 10-K for the fiscal year ended February 3, 2024 (this "Form 10-K") mean Designer Brands Inc. and its subsidiaries. We own many trademarks and service marks. This Form 10-K may contain trademarks, trade dress, and tradenames of other companies. Use or display of other parties' trademarks, trade dress or trade names is not intended to and does not imply a relationship with the trademark, trade dress or trade name owner. We have included certain website addresses throughout this Form 10-K as inactive textual references only. The information contained on the websites referenced herein is not incorporated into this Form 10-K. i Table of contents Cautionary Statement Regarding Forward-Looking Information for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995 Certain statements in this Form 10-K may constitute forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements reflect our current views with respect to, among other things, future events and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "could," "believes," "expects," "potential," "continues," "may," "will," "should," "would," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of those words or other comparable words. Any forward-looking statements contained in this Form 10-K are based upon current plans, estimates, expectations, and assumptions relating to our operations, results of operations, financial condition, and liquidity. The inclusion of any forward-looking statements should not be regarded as a representation by us or any other person that the future plans, esti

BUSINESS

ITEM 1. BUSINESS OVERVIEW Designer Brands Inc., originally founded as DSW Inc., is one of the world's largest designers, producers, and retailers of footwear and accessories. We operate in three reportable segments: the U.S. Retail segment, the Canada Retail segment, and the Brand Portfolio segment. The U.S. Retail segment operates the DSW Designer Shoe Warehouse ("DSW") banner through its direct-to-consumer U.S. stores and e-commerce site. The Canada Retail segment operates The Shoe Company and DSW banners through its direct-to-consumer Canada stores and e-commerce sites. Together, the U.S. Retail and Canada Retail segments are referred to as the "retail segments." The Brand Portfolio segment earns revenue from the wholesale of products to retailers and international distributors, commissions for serving retailers as the design and buying agent for products under private labels, and the sale of branded products through our direct-to-consumer e-commerce sites for the Vince Camuto, Keds, Hush Puppies, and Topo brands. Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year (e.g., "2023") refer to the calendar year in which the fiscal year begins. This reporting schedule is followed by many national retail companies and typically results in a 52-week fiscal year (including 2022), but occasionally will contain an additional week resulting in a 53-week fiscal year (including 2023). RETAIL SEGMENTS BANNERS We offer a wide assortment of dress, casual, and athletic footwear and accessories for women, men and kids under the following banners: DSW Designer Shoe Warehouse- Our DSW banner, which is offered both in the United States ("U.S.") and in Canada, is the destination for on-trend and fashion-forward footwear and accessory brands at a great value every single day. The Shoe Company- The Shoe Company banner in Canada offers on-trend footwear and accessory brands that target every-day family styles at a great value every single

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