Designer Brands Inc. Files Q3 Fiscal 2024 10-Q
Ticker: DBI · Form: 10-Q · Filed: Dec 10, 2024 · CIK: 1319947
Sentiment: neutral
Topics: 10-Q, financials, retail
Related Tickers: DBI
TL;DR
DBI's Q3 2024 10-Q is in. Check financials.
AI Summary
Designer Brands Inc. filed its 10-Q for the period ending November 2, 2024. The filing covers financial performance and operational details for the third quarter of fiscal year 2024. Key financial data and disclosures relevant to investors are presented in this report.
Why It Matters
This filing provides investors with the latest financial performance and operational insights for Designer Brands Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal risks or opportunities impacting the company's stock.
Key Players & Entities
- Designer Brands Inc. (company) — Filer of the 10-Q
- DSW Inc. (company) — Former company name
- 2024-11-02 (date) — End of reporting period
- 2024-12-10 (date) — Filing date
- OH (location) — State of incorporation and business address
- Columbus (location) — City of business address
- 001-32545 (other) — SEC file number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is November 2, 2024.
What was Designer Brands Inc.'s former company name?
Designer Brands Inc.'s former company name was DSW Inc.
In which state is Designer Brands Inc. incorporated?
Designer Brands Inc. is incorporated in Ohio (OH).
What is the SEC file number for Designer Brands Inc.?
The SEC file number for Designer Brands Inc. is 001-32545.
When was this 10-Q form filed with the SEC?
This 10-Q form was filed with the SEC on December 10, 2024.
Filing Stats: 4,698 words · 19 min read · ~16 pages · Grade level 16.7 · Accepted 2024-12-10 16:21:01
Filing Documents
- dsw-20241102.htm (10-Q) — 1526KB
- q3202410-qexhibit311.htm (EX-31.1) — 9KB
- q3202410-qexhibit312.htm (EX-31.2) — 9KB
- q3202410-qexhibit321.htm (EX-32.1) — 6KB
- q3202410-qexhibit322.htm (EX-32.1) — 6KB
- dsw-20241102_g1.jpg (GRAPHIC) — 5KB
- 0001319947-24-000055.txt ( ) — 7340KB
- dsw-20241102.xsd (EX-101.SCH) — 40KB
- dsw-20241102_cal.xml (EX-101.CAL) — 74KB
- dsw-20241102_def.xml (EX-101.DEF) — 225KB
- dsw-20241102_lab.xml (EX-101.LAB) — 567KB
- dsw-20241102_pre.xml (EX-101.PRE) — 386KB
- dsw-20241102_htm.xml (XML) — 1208KB
Financial Statements
Item 1 Financial Statements 1 Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Shareholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to the Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 19
Quantitative and Qualitative Disclosures About Market Risk
Item 3 Quantitative and Qualitative Disclosures About Market Risk 28
Controls and Procedures
Item 4 Controls and Procedures 29 PART II
Legal Proceedings
Item 1 Legal Proceedings 29
Risk Factors
Item 1A Risk Factors 29
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 29
Defaults Upon Senior Securities
Item 3 Defaults Upon Senior Securities 30
Mine Safety Disclosures
Item 4 Mine Safety Disclosures 30
Other Information
Item 5 Other Information 30
Exhibits
Item 6 Exhibits 31 SIGNATURE 32 All references to "we," "us," "our," "Designer Brands," "Designer Brands Inc.," or the "Company" in this Quarterly Report on Form 10-Q for the quarter ended November 2, 2024 (this "Form 10-Q") mean Designer Brands Inc. and its subsidiaries. We have included certain website addresses throughout this report as inactive textual references only. The information contained on the websites referenced herein is not incorporated into this Form 10-Q. 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-Q 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-Q 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, estimates, or expectations contemplated by us will be achieved. Such forward-looking statements are subject to numerous risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the f
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended Nine months ended (unaudited and in thousands, except per share amounts) November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net sales $ 777,194 $ 786,329 $ 2,295,690 $ 2,320,628 Cost of sales ( 529,749 ) ( 529,923 ) ( 1,550,262 ) ( 1,553,096 ) Gross profit 247,445 256,406 745,428 767,532 Operating expenses ( 210,457 ) ( 230,788 ) ( 675,904 ) ( 665,437 ) Income from equity investments 3,584 2,503 9,019 6,972 Impairment charges ( 17,756 ) — ( 17,756 ) ( 649 ) Operating profit 22,816 28,121 60,787 108,418 Interest expense, net ( 11,565 ) ( 8,767 ) ( 34,161 ) ( 22,296 ) Non-operating income (expenses), net ( 260 ) ( 162 ) ( 512 ) 83 Income before income taxes 10,991 19,192 26,114 86,205 Income tax benefit (provision) 2,223 ( 8,987 ) 2,067 ( 27,372 ) Net income 13,214 10,205 28,181 58,833 Net income attributable to redeemable noncontrolling interest ( 202 ) ( 64 ) ( 562 ) ( 73 ) Net income attributable to Designer Brands Inc. $ 13,012 $ 10,141 $ 27,619 $ 58,760 Earnings per share attributable to Designer Brands Inc.: Basic earnings per share $ 0.25 $ 0.17 $ 0.50 $ 0.93 Diluted earnings per share $ 0.24 $ 0.17 $ 0.48 $ 0.90 Weighted average shares used in per share calculations: Basic shares 52,083 58,633 55,570 62,860 Diluted shares 53,486 61,405 57,116 65,292 The accompanying notes are an integral part of the condensed consolidated financial statements. 1 Table of contents CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three months ended Nine months ended (unaudited and in thousands) November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net income $ 13,214 $ 10,205 $ 28,181 $ 58,833 Other comprehensive loss- Foreign currency translation loss ( 527 ) ( 2,501 ) ( 2,407 ) ( 2,041 ) Comprehensive income 12,687 7,704 25,774 56,792 Comprehensive income attributable to redeemable noncontrolling inter