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Designer Brands posts Q4 comparable sales growth
DSW store Credits: DSW storefront via Dreamstime For its fourth quarter, footwear retailer Designer Brands recorded a net sales decrease of 5.4 percent to 713.6 million dollars. Despite this, comparable sales increased by 0.5 percent. Gross profit decreased to 282.6 million dollars and net loss reached 38.2 million dollars or loss of 80 cents per diluted share. Adjusted net loss was 21.3 million dollars or 44 cents loss per diluted share. "Positive comparable sales in the fourth quarter reflect a return to growth for the first time in nine quarters, highlighting the success of our strategic initiatives throughout the year," stated Doug Howe, chief executive officer. "Looking ahead to 2025, we are confident that our ongoing business transformation will drive continued stability and growth, with expectations to significantly increase EPS compared to our 2024 adjusted results," added Howe. For the full year, net sales decreased 2.1 percent to 3 billion dollars with comparable sales down by 1.7 percent. Gross profit decreased to 1.29 billion dollars, net loss reached 10.5 million dollars or loss of 20 cents per diluted share. Net income for the year was 15 million dollars or diluted earnings per share of 27 cents.
For its fourth quarter, footwear retailer Designer Brands recorded a net sales decrease of 5.4 percent to 713.6 million dollars. Despite this, comparable sales increased by 0.5 percent.
Gross profit decreased to 282.6 million dollars and net loss reached 38.2 million dollars or loss of 80 cents per diluted share. Adjusted net loss was 21.3 million dollars or 44 cents loss per diluted share.
"Positive comparable sales in the fourth quarter reflect a return to growth for the first time in nine quarters, highlighting the success of our strategic initiatives throughout the year," stated Doug Howe, chief executive officer.
"Looking ahead to 2025, we are confident that our ongoing business transformation will drive continued stability and growth, with expectations to significantly increase EPS compared to our 2024 adjusted results," added Howe.
For the full year, net sales decreased 2.1 percent to 3 billion dollars with comparable sales down by 1.7 percent. Gross profit decreased to 1.29 billion dollars, net loss reached 10.5 million dollars or loss of 20 cents per diluted share. Net income for the year was 15 million dollars or diluted earnings per share of 27 cents.
