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Designer Brands (DBI) Q3 2024 Earnings Call Transcript

Good morning and welcome to the Designer Brands third quarter 2024 results conference call. All participants will be in a listen-only mode. [Operator instructions] After today's presentation, there will be an opportunity to ask questions. [Operator instructions] Please also note, today's event is being recorded.

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Designer Brands (DBI) Q3 2024 Earnings Call Transcript

Good morning and welcome to the Designer Brands third quarter 2024 results conference call. All participants will be in a listen-only mode. [Operator instructions] After today's presentation, there will be an opportunity to ask questions. [Operator instructions] Please also note, today's event is being recorded.
The Q3 2024 earnings call for Designer Brands Inc. (DBI) highlighted several key points. CEO Doug Howe discussed the company's strategic initiatives, including the acquisition of Keds and the expansion of their owned brands, which now account for 25% of total sales. Despite a challenging retail environment, DBI reported a slight increase in net sales to $786.3 million, up from $783.4 million the previous year, driven by growth in their owned brands and a 1.7% increase in comparable sales. However, the gross margin decreased due to higher promotional activity. The company also focused on cost management, with SG&A expenses decreasing as a percentage of sales. DBI is optimistic about future growth, particularly through their DSW segment, which saw a 1.5% comp increase, and through expanding their direct-to-consumer channels. They are also investing in technology and customer experience enhancements to drive long-term growth. The call concluded with a Q&A session where analysts inquired about inventory levels, the impact of acquisitions, and future growth strategies.

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