Tearsheet

Designer Brands (DBI)

Market Price (6/15/2026): $6.9 | Market Cap: $346.7 MilSector: Consumer Discretionary | Industry: Footwear

Designer Brands (DBI)

Market Price (6/15/2026): $6.9
Market Cap: $346.7 Mil
Sector: Consumer Discretionary
Industry: Footwear

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.8%, Dividend Yield is 2.8%, FCF Yield is 21%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail. Themes include Online Marketplaces, and Direct-to-Consumer Brands.

Weak multi-year price returns
2Y Excs Rtn is -42%, 3Y Excs Rtn is -69%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 340%

Stock price has recently run up significantly
12M Rtn12 month market price return is 221%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.5%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.33

Key risks
DBI key risks include [1] significant financial distress and high leverage creating a potential for bankruptcy, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.8%, Dividend Yield is 2.8%, FCF Yield is 21%
1	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail. Themes include Online Marketplaces, and Direct-to-Consumer Brands.
2	Weak multi-year price returns 2Y Excs Rtn is -42%, 3Y Excs Rtn is -69%
3	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 340%
5	Stock price has recently run up significantly 12M Rtn12 month market price return is 221%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.5%
7	Significant short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.33
8	Key risks DBI key risks include [1] significant financial distress and high leverage creating a potential for bankruptcy, Show more.

Valuation & Metrics

FYE: 1/31	Forward FYE		Now	Historical (CYE & TTM)
	2028	2027	6/15/26	2025	2024	2023
Share Price			$6.90	$7.43	$5.34	$8.85
Mkt Cap ($ Mil)			346.7	368.8	255.9	500.9
+ Debt ($ Mil)			1,226.5	1,207.1	1,286.0	1,239.8
- Cash ($ Mil)			50.1	50.9	44.8	49.2
TEV ($ Mil)			1,523.0	1,575.9	1,541.9	1,740.7
Valuation Ratios
P/S	0.1	0.1	0.1	0.1	0.1	0.2
P/EBIT	3.4	3.5	4.7	7.9	7.4	6.9
P/E	12.0	18.1	34.0	-42.1	-24.3	17.2
P/FCF	—	—	4.7	4.7	8.2	4.7
Sector Ratios (* = sector average)
P/S *			0.8	0.9	0.9	0.9
P/EBIT *			8.9	8.3	8.6	7.7
P/E *			12.9	12.2	11.0	11.0
P/FCF *			11.7	11.2	12.2	9.3

FYE: 1/31	Forward FYE		Now
	2028	2027	6/15/26
Share Price			$6.90
Mkt Cap ($ Mil)			346.7
+ Debt ($ Mil)			1,226.5
- Cash ($ Mil)			50.1
TEV ($ Mil)			1,523.0
Valuation Ratios
P/S	0.1	0.1	0.1
P/EBIT	3.4	3.5	4.7
P/E	12.0	18.1	34.0
P/FCF	—	—	4.7
Sector Ratios (* = sector average)
P/S *			0.8
P/EBIT *			8.9
P/E *			12.9
P/FCF *			11.7

FYE: 1/31	DBI [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$2.9 Bil	—
FY 2027 Sales	$2.9 Bil	—
FY 2028 Sales	$3.0 Bil	—
FY 2027 Sales Growth	0.3%	—
FY 2028 Sales Growth	2.0%	7.8%
EARNINGS
LTM Net Income (GAAP) [3]	$10.2 Mil	—
FY 2027 Net Income (Non-GAAP)	$19.1 Mil	—
FY 2028 Net Income (Non-GAAP)	$28.8 Mil	—
FY 2028 Net Income Growth	50.5%	14.6%
FY 2027 EPS (Non-GAAP)	$0.39	—
FY 2028 EPS (Non-GAAP)	$0.59	—
FY 2028 EPS Growth	50.5%	—
VALUATION
FY 2027 P/S	0.1	3.3
FY 2028 P/S	0.1	—
FY 2027 P/E	18.1	20.4
FY 2028 P/E	12.0	—

[1] DBI forward figures are analyst consensus for the next two fiscal years (fiscal year end 1/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	DBI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	2.9
Rev Chg Q	1.4%	8.8%
Rev Chg LTM	-1.6%	7.4%
Rev Chg 3Y Avg	-3.5%	5.8%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	2.2%	18.4%
CFO/Rev LTM	3.7%	21.3%
Net Inc Mgn	0.4%	13.0%
VALUATION	MODERATE
P/S	0.1	3.3
P/CFO	3.2	15.2
P/FCF	4.7	19.7
P/E	34.0	24.2
STABILITY	VERY POOR
Debt/Equity	3.54	0.21
Cash/Assets	0.03	0.07

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Metric	Value	Date	Source
Total North American Stores	over 660	9092025	Link
Percentage of Net Sales from Owned Brands	25.8%	2032024	Link
VIP Rewards Program Transaction Penetration	90%	3242025	Link
Wholesale Points of Distribution	more than 1,000	6102025	Link
Number of U.S. Stores	499	2032024	Link
Number of Canada Stores	143	2032024	Link

Price Chart

Recent
6/09/2026	Earnings Release	Rev: $696 Mil (A) vs. $696 Mil (E) EPS: 0.07 (A) vs. $0.02 (E)
Upcoming
6/25/2026	Dividend	Amount: $0.05 Payment On: 7/08/2026
9/08/2026	Earnings Release	Rev: $745 Mil (E) EPS: $0.25 (E)

Why The Stock Moved

Qualitative Assessment

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Updated on 6/11/2026

Designer Brands (DBI) stock has remained largely at the same level since 2/28/2026 because of the following key factors:

1. Persistent Weakness in Comparable Sales.

Designer Brands continued to experience declining retail sales, with comparable sales decreasing by 1.1% in fiscal Q1 2026, which ended May 2, 2026. This extended a trend of year-over-year comparable sales declines that has persisted for three consecutive years, raising concerns among investors about the company's long-term sales stability and overall profitability in the retail segment.

2. Mixed Fiscal Q1 2026 Earnings Report and Future Earnings Outlook.

While Designer Brands reported adjusted diluted earnings per share (EPS) of $0.07 for fiscal Q1 2026, exceeding analyst forecasts of $0.02, and achieved a 240 basis point expansion in gross margin to 45.3%, the market reacted negatively to the broader implications of the report. Net sales only increased by 1% year-over-year to $696 million. More significantly, the reaffirmed full-year fiscal 2026 adjusted EPS guidance of $0.28-$0.38, even at the high end, was perceived to imply that earnings momentum would reverse in subsequent quarters, dampening hopes for a near-term turnaround and leading to a stock decline of nearly 24% following the June 9, 2026, announcement.

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Stock Movement Drivers

Fundamental Drivers

The -2.5% change in DBI stock from 2/28/2026 to 6/14/2026 was primarily driven by a -1.4% change in the company's P/S Multiple.

(LTM values as of)	2282026	6142026	Change
Stock Price ($)	7.05	6.88	-2.5%
Change Contribution By:
Total Revenues ($ Mil)	2,893	2,902	0.3%
P/S Multiple	0.1	0.1	-1.4%
Shares Outstanding (Mil)	50	50	-1.4%
Cumulative Contribution			-2.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/14/2026

	Return	Correlation
DBI	-2.5%
Market (SPY)	8.4%	38.6%
Sector (XLY)	-0.0%	32.6%

Fundamental Drivers

The 61.7% change in DBI stock from 11/30/2025 to 6/14/2026 was primarily driven by a 66.3% change in the company's P/S Multiple.

(LTM values as of)	11302025	6142026	Change
Stock Price ($)	4.25	6.88	61.7%
Change Contribution By:
Total Revenues ($ Mil)	2,917	2,902	-0.5%
P/S Multiple	0.1	0.1	66.3%
Shares Outstanding (Mil)	49	50	-2.3%
Cumulative Contribution			61.7%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/14/2026

	Return	Correlation
DBI	61.7%
Market (SPY)	9.2%	23.9%
Sector (XLY)	-1.0%	26.5%

Fundamental Drivers

The 103.3% change in DBI stock from 5/31/2025 to 6/14/2026 was primarily driven by a 121.0% change in the company's P/S Multiple.

(LTM values as of)	5312025	6142026	Change
Stock Price ($)	3.38	6.88	103.3%
Change Contribution By:
Total Revenues ($ Mil)	3,009	2,902	-3.6%
P/S Multiple	0.1	0.1	121.0%
Shares Outstanding (Mil)	48	50	-4.6%
Cumulative Contribution			103.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/14/2026

	Return	Correlation
DBI	103.3%
Market (SPY)	27.3%	28.7%
Sector (XLY)	9.9%	32.3%

Fundamental Drivers

The 21.4% change in DBI stock from 5/31/2023 to 6/14/2026 was primarily driven by a 1427.0% change in the company's P/E Multiple.

(LTM values as of)	5312023	6142026	Change
Stock Price ($)	5.67	6.88	21.4%
Change Contribution By:
Total Revenues ($ Mil)	3,315	2,902	-12.5%
Net Income Margin (%)	4.9%	0.4%	-92.8%
P/E Multiple	2.2	33.9	1427.0%
Shares Outstanding (Mil)	64	50	26.7%
Cumulative Contribution			21.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/14/2026

	Return	Correlation
DBI	21.4%
Market (SPY)	84.5%	33.0%
Sector (XLY)	57.6%	35.7%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
DBI Return	86%	-30%	-8%	-38%	46%	-11%	-3%
Peers Return	43%	-22%	20%	48%	-31%	24%	70%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
Monthly Win Rates [3]
DBI Win Rate	50%	50%	42%	50%	50%	50%
Peers Win Rate	65%	38%	62%	50%	45%	67%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
DBI Max Drawdown	-40%	-50%	-43%	-59%	-62%	-35%
Peers Max Drawdown	-25%	-45%	-38%	-28%	-59%	-30%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: CAL, GCO, WWW, DECK, SHOO. See DBI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)

Event	DBI	S&P 500
2025 US Tariff Shock
% Loss	-56.3%	-18.8%
% Gain to Breakeven	129.0%	23.1%
Time to Breakeven	179 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-12.7%	-9.5%
% Gain to Breakeven	14.5%	10.5%
Time to Breakeven	66 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-37.3%	-6.7%
% Gain to Breakeven	59.4%	7.1%
Time to Breakeven	29 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-22.6%	-24.5%
% Gain to Breakeven	29.3%	32.4%
Time to Breakeven	22 days	427 days
2020 COVID-19 Crash
% Loss	-79.5%	-33.7%
% Gain to Breakeven	388.0%	50.9%
Time to Breakeven	356 days	140 days
2016-2017 Trump Reflation Bond Selloff
% Loss	-20.6%	-3.7%
% Gain to Breakeven	25.9%	3.9%
Time to Breakeven	115 days	6 days

Compare to CAL, GCO, WWW, DECK, SHOO

In The Past

Designer Brands's stock fell -56.3% during the 2025 US Tariff Shock. Such a loss loss requires a 129.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	DBI	S&P 500
2025 US Tariff Shock
% Loss	-56.3%	-18.8%
% Gain to Breakeven	129.0%	23.1%
Time to Breakeven	179 days	79 days
2023 SVB Regional Banking Crisis
% Loss	-37.3%	-6.7%
% Gain to Breakeven	59.4%	7.1%
Time to Breakeven	29 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-22.6%	-24.5%
% Gain to Breakeven	29.3%	32.4%
Time to Breakeven	22 days	427 days
2020 COVID-19 Crash
% Loss	-79.5%	-33.7%
% Gain to Breakeven	388.0%	50.9%
Time to Breakeven	356 days	140 days
2016-2017 Trump Reflation Bond Selloff
% Loss	-20.6%	-3.7%
% Gain to Breakeven	25.9%	3.9%
Time to Breakeven	115 days	6 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-33.9%	-12.2%
% Gain to Breakeven	51.2%	13.9%
Time to Breakeven	1015 days	62 days
2014-2016 Oil Price Collapse
% Loss	-28.1%	-6.8%
% Gain to Breakeven	39.0%	7.3%
Time to Breakeven	959 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-31.6%	-17.9%
% Gain to Breakeven	46.3%	21.8%
Time to Breakeven	66 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-20.9%	-15.4%
% Gain to Breakeven	26.5%	18.2%
Time to Breakeven	29 days	125 days
2008-2009 Global Financial Crisis
% Loss	-61.7%	-53.4%
% Gain to Breakeven	160.9%	114.4%
Time to Breakeven	212 days	1085 days
Summer 2007 Credit Crunch
% Loss	-25.2%	-8.6%
% Gain to Breakeven	33.7%	9.5%
Time to Breakeven	1149 days	47 days

Compare to CAL, GCO, WWW, DECK, SHOO

In The Past

Designer Brands's stock fell -56.3% during the 2025 US Tariff Shock. Such a loss loss requires a 129.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Designer Brands (DBI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Designer Brands Inc., together with its subsidiaries, designs, manufactures, and retails footwear and accessories for women, men, and kids primarily in North America. The company operates through three segments: U.S. Retail, Canada Retail, and Brand Portfolio. It provides dress, casual, and athletic footwear; and handbags. The company offers its products under the Vince Camuto, Louise et Cie, Jessica Simpson, Lucky, JLO Jenifer Lopez, and other brands. It also operates vincecamuto.com e-commerce site, as well as www.dsw.com, www.dsw.ca, and www.theshoecompany.ca websites; and a portfolio of banners, including DSW Designer Shoe Warehouse, The Shoe Company, and Shoe Warehouse. As of January 29, 2022, it operated 648 stores. Designer Brands Inc. was founded in 1991 and is based in Columbus, Ohio.

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Imagine it as a Nordstrom Rack or Kohl's, but exclusively for a vast selection of shoes and accessories.

Think of it as a Zappos or Foot Locker that also designs and manufactures many of the footwear brands it sells.

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Footwear: Designs, manufactures, and retails various types of shoes including dress, casual, and athletic styles.
Accessories: Sells a range of fashion accessories for women, men, and kids.
Handbags: Offers a selection of handbags.

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Designer Brands (DBI) primarily sells its products directly to individual consumers through its owned and operated retail stores (such as DSW Designer Shoe Warehouse, The Shoe Company, and Shoe Warehouse) and e-commerce websites (including dsw.com, dsw.ca, theshoecompany.ca, and vincecamuto.com).

The company serves the following categories of customers:

Women seeking a wide range of footwear (dress, casual, athletic) and accessories, often from its portfolio of owned and licensed brands like Vince Camuto, Jessica Simpson, Lucky, and JLO Jenifer Lopez.
Men looking for various styles of footwear, including dress, casual, and athletic options.
Kids in need of footwear.

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Doug Howe
Chief Executive Officer

Doug Howe has served as Chief Executive Officer of Designer Brands since April 2023. He joined the Company in May 2022 as President of DSW Designer Shoe Warehouse and Executive Vice President of Designer Brands. Mr. Howe has over 30 years of retail experience, holding prior leadership positions across merchandising, design, product development, and planning at various companies. Before joining Designer Brands, he served as Chief Merchandising Officer at Kohl's for four years. His career also includes leadership roles at Qurate Retail Group, Gap Inc., Walmart, and May Department Stores.

Sheamus Toal
Executive Vice President, Chief Financial Officer, and Principal Financial Officer

Sheamus Toal will join Designer Brands as Executive Vice President, Chief Financial Officer, and Principal Financial Officer, effective February 16, 2026. He brings deep financial and operational experience from decades of leadership in CFO and COO roles across large, complex public and private companies. Most recently, Mr. Toal served as Chief Operating Officer and Chief Financial Officer of The Children's Place. Prior to that, he was Executive Vice President, Chief Financial Officer of Saatva.com, where he led public-company readiness efforts and executed major financing transactions. Earlier in his career, he spent over a decade in senior leadership roles at New York & Company, including 12 years as Chief Financial Officer, and later served as CEO.

Deborah L. Ferrée
Vice Chairman and Chief Product Officer

Deborah L. Ferrée was named Chief Product Officer in February 2023. She has also served as Vice Chair since January 2006. Ms. Ferrée joined DSW in 1997 as Vice President of Merchandising and held various executive merchandising and leadership roles, including President of Camuto Group, Chief Merchandising Officer, and President and Chief Merchandising Officer. Her extensive retail experience spans over 20 years with organizations such as Burdines, Ross Stores, and The May Company.

Laura T. Davis
Executive Vice President, Designer Brands and President, North America Retail of DSW Shoe Warehouse, Inc.

Laura T. Davis holds the position of Executive Vice President, Designer Brands and President, North America Retail of DSW Shoe Warehouse, Inc.

Mary J. Turner
Executive Vice President, Designer Brands and President, Designer Brands Canada

Mary J. Turner serves as Executive Vice President, Designer Brands and President, Designer Brands Canada.

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Here are the key risks to Designer Brands (DBI):

High Financial Leverage and Debt Burden: Designer Brands Inc. faces significant financial leverage and a high debt-to-equity ratio, which can lead to interest coverage risk. The company has taken on debt, particularly since the pandemic, and has been posting slower sales and falling margins, further exacerbating this risk.
Macroeconomic Headwinds and Challenging Retail Environment: The company is vulnerable to macroeconomic headwinds that directly impact consumer spending. It has experienced a soft start to recent fiscal years due to an unpredictable macro environment and deteriorating consumer sentiment, leading to sales declines and pressure on margins.
Intense Competition and Shifting Consumer Preferences: Designer Brands operates in a highly competitive footwear market. It faces challenges from national brands increasingly focusing on direct-to-consumer (DTC) sales, which creates uncertainty for wholesale retailers like DBI. Additionally, the company must continually adapt to evolving fashion trends and consumer preferences, such as the shift from dress shoes to more casual and athletic footwear, to remain relevant.

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The proliferation of direct-to-consumer (DTC) footwear and accessory brands that bypass traditional multi-brand retailers, challenging Designer Brands' DSW, The Shoe Company, and Shoe Warehouse banners by offering alternative purchase channels directly from brands.
The rise of ultra-fast fashion retailers, such as Shein and Temu, which leverage rapid production cycles and aggressive pricing to offer trendy footwear and accessories at significantly lower costs, putting competitive pressure on Designer Brands' pricing and responsiveness to fashion trends.

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Designer Brands Inc. operates primarily in the footwear and accessories markets in North America. The addressable markets for their main products in this region are substantial.

Footwear Market

The North American footwear market was estimated at approximately USD 116.05 billion in 2024. This market is projected to grow to about USD 145.23 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.8% from 2025 to 2030.
In the U.S. specifically, the footwear market generated a revenue of approximately USD 94.54 billion in 2024. It is expected to reach around USD 117.38 billion by 2030, with a CAGR of 3.7% from 2025 to 2030.
For Canada, the footwear market size was approximately USD 8.58 billion in 2024 and is projected to reach about USD 10.91 billion by 2030, growing at a CAGR of 4.1% from 2025 to 2030. Another estimate for Canada's footwear market in 2024 was USD 10.34 billion.

Fashion Accessories Market (including Handbags)

Designer Brands also specializes in accessories, particularly handbags.

The North American fashion accessories market generated revenue of approximately USD 283.01 billion in 2024. This market is anticipated to grow to approximately USD 440.80 billion by 2030, at a CAGR of 7.9% from 2025 to 2030.
Focusing on the U.S., the fashion accessories market was valued at about USD 222.07 billion in 2024. It is projected to reach approximately USD 342.99 billion by 2030, growing at a CAGR of 7.8% from 2025 to 2030. Separately, the U.S. handbag market alone was estimated at USD 14.26 billion in 2024.
In Canada, the handbag, luggage, & accessory stores market was valued at USD 2.2 billion in 2024. This market is projected to reach USD 2.3 billion in 2025.

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Designer Brands Inc. (DBI) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives across its segments and brand portfolio.

One key driver is the **strategic growth of its owned brands and direct-to-consumer (DTC) channels**. Designer Brands aims to double the sales of its owned brands, such as Topo Athletic, Keds, Vince Camuto, and Jessica Simpson, by fiscal year 2026, primarily through direct-to-consumer channels. Significant investments have been made in acquiring and developing these brands, with a focus on repositioning some, like Keds, within the comfort casual category and integrating new technology-infused athleisure offerings to achieve double-digit growth.

Another significant driver is **continued expansion in the Canadian retail market**. The company has actively pursued growth in Canada, including the acquisition of 28 Rubino stores in the first quarter of fiscal 2024, bringing the total store count in Canada to 175 as of February 1, 2025. This expansion is projected to result in mid-to-high single-digit sales growth for the Canada Retail segment in fiscal 2025.

A third anticipated driver is the **modernization and optimization of its U.S. Retail segment, focusing on enhanced assortment, marketing, and omnichannel experience**. For its U.S. Retail segment, Designer Brands projects low-single-digit net sales growth and comparable sales increases in 2025. This growth is supported by strategies to improve inventory availability, enhance product assortment—particularly with increased athleisure penetration and strengthened partnerships with top national brands like Birkenstock and Nike—and optimize marketing efforts to boost DSW awareness. The company also emphasizes an integrated omnichannel experience, where a significant portion of digital demand is fulfilled by stores and e-commerce returns are processed in-store, further driving customer engagement and traffic.

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Share Repurchases
- Designer Brands Inc. repurchased Class A common shares at an aggregate cost of $68.6 million in fiscal year 2024 (ended February 1, 2025), with 10.3 million shares repurchased.
- As of February 1, 2025, $19.7 million of Class A common shares remained available for future repurchase under the existing share repurchase program.
- The company repurchased $147.549 million in shares in 2023 and $102.188 million in 2024, according to some data sources.
Outbound Investments
- Designer Brands Inc. announced a $2 million investment in advancing action-oriented Diversity, Equity & Inclusion initiatives.
- The company has focused on investing in high-growth brands like Topo Athletic, which grew over 70% in 2024.
Capital Expenditures
- Capital expenditures for the fiscal year ended January 31, 2025, were $11.981 million.
- In the third quarter of 2025, the company maintained a disciplined approach to managing capital investments.
- For fiscal year 2025, the company plans to focus capital investments on initiatives aimed at enhancing the customer experience and product offerings, revitalizing and modernizing assortments, optimizing marketing, and improving omnichannel capabilities.

Interactive Breakdown

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Better Bets vs. Designer Brands (DBI)

INDUSTRY: Footwear

Higher Rev Chg LTM (Value for DBI: -1.6%)

ONON (23.0%)

SHOO (15.3%)

Steven Madden

BIRK (11.5%)

Birkenstock

DECK (9.8%)

Deckers Outdoor

WWW (8.3%)

Wolverine World Wide

Higher Rev Chg 3Y Avg (Value for DBI: -3.5%)

ONON (30.5%)

BIRK (17.6%)

Birkenstock

DECK (14.7%)

Deckers Outdoor

SHOO (9.3%)

Steven Madden

CROX (2.2%)

Crocs

Higher Op Mgn LTM (Value for DBI: 2.2%)

BIRK (25.1%)

Birkenstock

DECK (23.1%)

Deckers Outdoor

CROX (21.5%)

Crocs

ONON (13.4%)

SHOO (5.0%)

Steven Madden

Higher CFO/Rev LTM (Value for DBI: 3.7%)

DECK (21.6%)

Deckers Outdoor

BIRK (19.0%)

Birkenstock

CROX (17.3%)

Crocs

ONON (12.8%)

SHOO (4.8%)

Steven Madden

Higher FCF/Rev LTM (Value for DBI: 2.5%)

DECK (20.1%)

Deckers Outdoor

CROX (16.0%)

Crocs

BIRK (14.2%)

Birkenstock

ONON (10.1%)

SHOO (3.3%)

Steven Madden

Higher Total Yield (Value for DBI: 5.8%)

WEYS (15.2%)

Weyco

WWW (9.3%)

Wolverine World Wide

RCKY (7.7%)

Rocky Brands

DECK (6.4%)

Deckers Outdoor

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for DBI: -3.5% | 0.1x)

ADNT (0.5% | 0.1x)

Adient

CWH (-2.3% | 0.1x)

Camping World

ONEW (-0.3% | 0.1x)

OneWater Marine

RRGB (-2.4% | 0.1x)

Red Robin Gourmet Burgers

STKS (47.5% | 0.1x)

One Hospitality

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DBI: -3.5% | 5.4x)

LAD (10.0% | 5.3x)

Lithia Motors

AN (1.1% | 5.2x)

AutoNation

CZR (0.6% | 2.9x)

Caesars Entertainment

ADT (3.1% | 4.2x)

ADT

HRB (3.9% | 5.1x)

H&R Block

Higher Rev Chg LTM (Value for DBI: -1.6%)

AMZN (14.2%)

Amazon.com

TJX (8.1%)

TJX Companies

MCD (6.8%)

McDonald's

TSLA (2.3%)

Tesla

HD (2.2%)

Home Depot

Higher Rev Chg 3Y Avg (Value for DBI: -3.5%)

AMZN (12.3%)

Amazon.com

TJX (7.0%)

TJX Companies

MCD (5.5%)

McDonald's

TSLA (4.5%)

Tesla

HD (2.3%)

Home Depot

Higher Op Mgn LTM (Value for DBI: 2.2%)

MCD (46.0%)

McDonald's

HD (12.4%)

Home Depot

TJX (12.3%)

TJX Companies

AMZN (11.5%)

Amazon.com

TSLA (5.4%)

Tesla

Higher CFO/Rev LTM (Value for DBI: 3.7%)

MCD (38.4%)

McDonald's

AMZN (20.0%)

Amazon.com

TSLA (16.9%)

Tesla

TJX (12.3%)

TJX Companies

HD (10.8%)

Home Depot

Higher FCF/Rev LTM (Value for DBI: 2.5%)

BKNG (32.6%)

Booking

MCD (25.6%)

McDonald's

TJX (8.9%)

TJX Companies

HD (8.6%)

Home Depot

TSLA (7.2%)

Tesla

Higher Total Yield (Value for DBI: 5.8%)

DHI (8.3%)

D.R. Horton

LOW (7.5%)

Lowe's Companies

HD (7.1%)

Home Depot

MCD (6.8%)

McDonald's

RCL (6.2%)

Royal Caribbean

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for DBI: -3.5% | 0.1x)

SNEX (35.1% | 0.1x)

StoneX

ACI (2.3% | 0.1x)

Albertsons Companies

UNFI (1.3% | 0.1x)

United Natural Foods

MAN (-1.7% | 0.1x)

ManpowerGroup

GOLD (47.0% | 0.1x)

Gold.com

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DBI: -3.5% | 5.4x)

CMCSA (1.4% | 4.6x)

Comcast

IBKR (28.2% | 4.4x)

Interactive Brokers

BCE (0.5% | 4.2x)

BCE

EXE (34.4% | 4.6x)

Expand Energy

RCI (13.1% | 4.1x)

Rogers Communications

Higher Rev Chg LTM (Value for DBI: -1.6%)

NVDA (70.7%)

NVIDIA

AVGO (32.3%)

Broadcom

MSFT (17.9%)

Microsoft

GOOGL (17.5%)

Alphabet

AAPL (12.8%)

Apple

Higher Rev Chg 3Y Avg (Value for DBI: -3.5%)

NVDA (121.7%)

NVIDIA

AVGO (29.3%)

Broadcom

MSFT (15.3%)

Microsoft

GOOGL (14.1%)

Alphabet

AAPL (5.6%)

Apple

Higher Op Mgn LTM (Value for DBI: 2.2%)

NVDA (64.0%)

NVIDIA

MSFT (46.8%)

Microsoft

AVGO (44.1%)

Broadcom

GOOGL (32.7%)

Alphabet

AAPL (32.6%)

Apple

Higher CFO/Rev LTM (Value for DBI: 3.7%)

MSFT (53.5%)

Microsoft

NVDA (49.6%)

NVIDIA

AVGO (44.6%)

Broadcom

GOOGL (41.3%)

Alphabet

AAPL (31.1%)

Apple

Higher FCF/Rev LTM (Value for DBI: 2.5%)

NVDA (47.0%)

NVIDIA

AVGO (43.4%)

Broadcom

AAPL (28.6%)

Apple

MSFT (22.9%)

Microsoft

GOOGL (15.2%)

Alphabet

Higher Total Yield (Value for DBI: 5.8%)

BAC (7.8%)

Bank of America

XOM (6.9%)

Exxon Mobil

BRK-B (6.9%)

Berkshire Hathaway

JPM (6.8%)

JPMorgan Chase

JNJ (5.8%)

Johnson & Johnson

Best Bets in Consumer Discretionary

What You Pay

P/EBIT (Value for DBI: 4.7x)

ABNB (30.5x)

Airbnb

DUOL (36.7x)

Duolingo

BKNG (14.4x)

Booking

PRDO (9.1x)

Perdoceo Education

LOPE (12.6x)

Grand Canyon Education

MCRI (16.8x)

Monarch Casino & Resort

GRMN (23.2x)

Garmin

DECK (12.1x)

Deckers Outdoor

ALSN (11.7x)

Allison Transmission

PLNT (9.3x)

Planet Fitness

P/E (Value for DBI: 33.9x)

ABNB (31.4x)

Airbnb

DUOL (13.6x)

Duolingo

BKNG (21.2x)

Booking

PRDO (12.5x)

Perdoceo Education

LOPE (17.9x)

Grand Canyon Education

MCRI (21.1x)

Monarch Casino & Resort

GRMN (26.4x)

Garmin

DECK (15.7x)

Deckers Outdoor

ALSN (17.9x)

Allison Transmission

PLNT (17.7x)

Planet Fitness

What You Get

Rev Chg 3Y Avg (Value for DBI: -3.5%)

ABNB (13.3%)

Airbnb

DUOL (39.6%)

Duolingo

BKNG (15.2%)

Booking

PRDO (6.8%)

Perdoceo Education

LOPE (7.1%)

Grand Canyon Education

MCRI (4.6%)

Monarch Casino & Resort

GRMN (15.6%)

Garmin

DECK (14.7%)

Deckers Outdoor

ALSN (8.9%)

Allison Transmission

PLNT (12.5%)

Planet Fitness

Rev Chg LTM (Value for DBI: -1.6%)

ABNB (12.6%)

Airbnb

DUOL (35.5%)

Duolingo

BKNG (15.0%)

Booking

PRDO (17.7%)

Perdoceo Education

LOPE (7.4%)

Grand Canyon Education

MCRI (5.8%)

Monarch Casino & Resort

GRMN (15.7%)

Garmin

DECK (9.8%)

Deckers Outdoor

ALSN (14.0%)

Allison Transmission

PLNT (14.4%)

Planet Fitness

Rev Chg Q (Value for DBI: 1.4%)

ABNB (17.9%)

Airbnb

DUOL (26.5%)

Duolingo

BKNG (16.2%)

Booking

PRDO (4.1%)

Perdoceo Education

LOPE (6.7%)

Grand Canyon Education

MCRI (8.9%)

Monarch Casino & Resort

GRMN (14.2%)

Garmin

DECK (9.6%)

Deckers Outdoor

ALSN (83.6%)

Allison Transmission

PLNT (21.9%)

Planet Fitness

FCF/Rev 3Y Avg (Value for DBI: 2.0%)

ABNB (38.7%)

Airbnb

DUOL (35.0%)

Duolingo

BKNG (32.9%)

Booking

PRDO (23.9%)

Perdoceo Education

LOPE (22.6%)

Grand Canyon Education

MCRI (21.4%)

Monarch Casino & Resort

GRMN (21.0%)

Garmin

DECK (20.4%)

Deckers Outdoor

ALSN (19.4%)

Allison Transmission

PLNT (18.5%)

Planet Fitness

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Designer Brands Earnings Notes	12/16/2025
2	Would You Still Hold Designer Brands Stock If It Fell 30%?	10/17/2025
3	Designer Brands vs. S&P500 Correlation	10/03/2024
4	Day 7 of Gains Streak for Designer Brands Stock with 16% Return (vs. -18% YTD) [9/27/2024]	09/27/2024
5	Designer Brands Price Volatility	09/24/2024
6	Day 7 of Loss Streak for Designer Brands Stock with -26% Return (vs. -32% YTD) [9/4/2024]	09/04/2024
7	Day 5 of Loss Streak for Designer Brands Stock with -12% Return (vs. -20% YTD) [8/30/2024]	08/30/2024
8	Day 6 of Loss Streak for Designer Brands Stock with -36% Return (vs. -21% YTD) [6/11/2024]	06/11/2024
9	Day 5 of Loss Streak for Designer Brands Stock with -34% Return (vs. -18% YTD) [6/10/2024]	06/10/2024
10	Better Bet Than DBI Stock: Pay Less Than Designer Brands To Get More From Stocks CMC, CF, ARW, TMHC, AL	12/03/2023

	Title
0	ARTICLES

Trade Ideas

Select ideas related to DBI.

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Peer Comparisons

Peers to compare with:

Financials

	DBI	CAL	GCO	WWW	DECK	SHOO	Median
Name	Designer.	Caleres	Genesco	Wolverin.	Deckers .	Steven M.
Mkt Price	6.88	14.64	42.50	18.02	113.83	46.15	30.26
Mkt Cap	0.3	0.5	0.4	1.5	16.1	3.3	1.0
Rev LTM	2,902	2,810	2,449	1,920	5,472	2,634	2,722
Op Inc LTM	64	37	28	163	1,263	132	98
FCF LTM	74	22	85	132	1,097	87	86
FCF 3Y Avg	59	56	41	136	1,000	152	98
CFO LTM	108	81	144	141	1,182	126	133
CFO 3Y Avg	103	114	95	152	1,087	182	133

Growth & Margins

	DBI	CAL	GCO	WWW	DECK	SHOO	Median
Name	Designer.	Caleres	Genesco	Wolverin.	Deckers .	Steven M.
Rev Chg LTM	-1.6%	4.9%	4.6%	8.3%	9.8%	15.3%	6.6%
Rev Chg 3Y Avg	-3.5%	-0.9%	1.5%	-9.5%	14.7%	9.3%	0.3%
Rev Chg Q	1.4%	8.5%	2.8%	11.0%	9.6%	18.0%	9.0%
QoQ Delta Rev Chg LTM	0.3%	1.9%	0.5%	2.4%	1.8%	3.9%	1.9%
Op Inc Chg LTM	144.0%	-70.9%	33.1%	39.0%	7.1%	-42.0%	20.1%
Op Inc Chg 3Y Avg	9.5%	-36.4%	36.3%	610.5%	25.4%	-15.3%	17.5%
Op Mgn LTM	2.2%	1.3%	1.1%	8.5%	23.1%	5.0%	3.6%
Op Mgn 3Y Avg	1.6%	4.3%	0.8%	5.1%	22.8%	8.7%	4.7%
QoQ Delta Op Mgn LTM	0.8%	0.3%	0.1%	0.5%	-0.7%	1.8%	0.4%
CFO/Rev LTM	3.7%	2.9%	5.9%	7.3%	21.6%	4.8%	5.3%
CFO/Rev 3Y Avg	3.5%	4.1%	4.0%	7.9%	22.2%	8.1%	6.0%
FCF/Rev LTM	2.5%	0.8%	3.5%	6.9%	20.1%	3.3%	3.4%
FCF/Rev 3Y Avg	2.0%	2.0%	1.7%	7.1%	20.4%	6.8%	4.4%

Valuation

	DBI	CAL	GCO	WWW	DECK	SHOO	Median
Name	Designer.	Caleres	Genesco	Wolverin.	Deckers .	Steven M.
Mkt Cap	0.3	0.5	0.4	1.5	16.1	3.3	1.0
P/S	0.1	0.2	0.2	0.8	2.9	1.2	0.5
P/Op Inc	5.4	13.0	16.0	9.0	12.7	25.0	12.9
P/EBIT	4.7	25.1	14.7	8.9	12.1	25.6	13.4
P/E	33.9	743.9	22.5	14.2	15.7	43.2	28.2
P/CFO	3.2	5.9	3.1	10.5	13.6	26.1	8.2
Total Yield	5.8%	2.1%	4.4%	9.3%	6.4%	4.2%	5.1%
Dividend Yield	2.8%	2.0%	0.0%	2.3%	0.0%	1.9%	1.9%
FCF Yield 3Y Avg	19.4%	5.6%	12.3%	12.8%	5.8%	6.3%	9.3%
D/E	3.5	2.0	1.3	0.5	0.0	0.2	0.9
Net D/E	3.4	1.9	1.2	0.5	-0.1	0.1	0.8

Returns

	DBI	CAL	GCO	WWW	DECK	SHOO	Median
Name	Designer.	Caleres	Genesco	Wolverin.	Deckers .	Steven M.
1M Rtn	7.3%	32.9%	28.6%	17.4%	21.7%	19.5%	20.6%
3M Rtn	25.3%	59.4%	69.9%	13.5%	12.9%	47.8%	36.6%
6M Rtn	-16.2%	11.9%	76.4%	0.6%	12.5%	7.5%	9.7%
12M Rtn	220.6%	21.5%	108.6%	6.5%	12.2%	105.0%	63.2%
3Y Rtn	-16.0%	-38.4%	78.8%	32.8%	33.4%	43.5%	33.1%
1M Excs Rtn	7.8%	33.6%	34.2%	16.2%	21.4%	20.6%	21.0%
3M Excs Rtn	13.3%	47.4%	57.9%	1.4%	0.9%	35.8%	24.5%
6M Excs Rtn	-25.9%	3.4%	70.7%	-9.5%	5.1%	-0.7%	1.3%
12M Excs Rtn	153.6%	-12.4%	71.6%	-22.8%	-17.9%	68.8%	28.2%
3Y Excs Rtn	-68.6%	-106.6%	22.4%	-49.4%	-37.0%	-26.5%	-43.2%

FDIC Bank Data

Bank Capital

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Bank Deposits

null

Bank Assets

null

Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 1/31	LTM	2026	2025	2024	2023	2022	2021
Period End	5/2/2026	1/31/2026	2/1/2025	1/28/2024	1/28/2023	1/29/2022	1/30/2021
Filing Date	6/9/2026	3/30/2026	3/24/2025	3/25/2024	3/16/2023	3/21/2022	3/22/2021
Key Financials
Total Revenue	2,902	2,893	3,009	3,075	3,315	3,197	2,235
Gross Profit	1,281	1,260	1,286	1,324	1,455	1,069	311
EBITDA	132	107	98	139	256	286	-507
Operating Income	64	41	40	68	183	198	-442
Net Income	10	-8	-11	29	163	154	-489
EPS	0.21	-0.17	-0.20	0.47	2.41	2.12	-6.77
Growth Rates
Total Revenue Growth	-1.6%	-3.9%	-2.1%	-7.3%	3.7%	43.0%	-36.0%
EBITDA Growth	66.1%	8.4%	-29.0%	-45.9%	-10.7%	156.5%	-337.2%
Operating Income Growth	144.0%	2.6%	-40.9%	-62.9%	-7.6%	144.8%	-453.9%
Net Income Growth	135.0%	20.6%	-136.3%	-82.1%	5.3%	131.6%	-617.2%
Margins
Gross Margin	44.1%	43.6%	42.7%	43.1%	43.9%	33.4%	13.9%
EBITDA Margin	4.6%	3.7%	3.3%	4.5%	7.7%	9.0%	-22.7%
Operating Income Margin	2.2%	1.4%	1.3%	2.2%	5.5%	6.2%	-19.8%
Net Income Margin	0.4%	-0.3%	-0.4%	0.9%	4.9%	4.8%	-21.9%
Cash & Debt
Total Cash	50	51	45	49	59	73	60
Total Debt	1,226	1,207	1,286	1,240	1,103	1,021	1,257
Net Debt / (Cash)	1,176	1,156	1,241	1,191	1,044	949	1,198
Cash Flows & CapEx
Net Cash from Operations	108	110	82	162	201	201	171
Total CapEx	-34	-32	-51	-55	-55	-55	-33
Free Cash from Operations	74	78	31	107	146	146	138
Returns to Shareholders
Dividends	10	10	10	12	13	13	-0
Share Repurchases	-0	-0	69	102	148	148	-0

$ Mil \| FY: 1/31	2027Q1	2026Q4	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2
Period End	5/2/2026	1/31/2026	11/1/2025	8/2/2025	5/3/2025	2/1/2025	11/2/2024	8/3/2024	5/4/2024	1/28/2024	10/28/2023	7/29/2023
Filing Date	6/9/2026	3/30/2026	12/9/2025	9/9/2025	6/10/2025	3/24/2025	12/10/2024	9/11/2024	6/4/2024	3/25/2024	12/5/2023	9/7/2023
Key Financials Quarterly
Total Revenue	696	714	752	740	687	714	777	772	747	754	786	792
Ebitda	33	0	57	41	7	-10	38	45	26	-18	43	78
Operating Income	16	-17	40	25	-7	-29	37	26	7	-34	26	59
Net Income	1	-20	18	11	-18	-38	13	14	1	-30	10	37
EPS	0.02	-0.40	0.37	0.22	-0.37	-0.80	0.25	0.24	0.01	-0.52	0.17	0.57
Key Financials TTM
Total Revenue TTM	2,902	2,893	2,893	2,917	2,950	3,009	3,050	3,059	3,079	3,075	3,081	3,160
Ebitda TTM	132	106	95	76	80	98	91	95	128	139	175	217
Operating Income TTM	64	41	28	26	26	40	35	24	57	68	102	140
Net Income TTM	10	-9	-27	-32	-29	-11	-2	-5	18	29	104	139
Growth Rates Quarterly
Total Revenue Growth	1.4%	0.0%	-3.2%	-4.2%	-8.0%	-5.4%	-1.2%	-2.6%	0.6%	-0.8%	-9.1%	-7.8%
EBITDA Growth	382.0%	103.7%	49.7%	-7.9%	-73.1%	41.2%	-10.1%	-42.3%	-28.5%	-194.5%	-49.8%	-13.9%
Operating Income Growth	318.2%	41.7%	7.0%	-2.1%	-213.2%	14.2%	44.4%	-55.8%	-63.0%	-79551.2%	-59.7%	-12.1%
Net Income Growth	106.5%	47.6%	40.0%	-21.7%	-2375.4%	-28.5%	28.3%	-62.8%	-93.1%	-165.8%	-77.5%	-19.5%
Margins Quarterly
EBITDA Margin	4.8%	0.1%	7.6%	5.6%	1.0%	-1.5%	4.9%	5.8%	3.4%	-2.4%	5.4%	9.8%
Operating Income Margin	2.3%	-2.4%	5.3%	3.4%	-1.1%	-4.1%	4.8%	3.4%	0.9%	-4.5%	3.3%	7.4%
Net Income Margin	0.2%	-2.8%	2.4%	1.5%	-2.6%	-5.3%	1.7%	1.8%	0.1%	-3.9%	1.3%	4.7%
Cash & Debt
Total Cash	50	51	51	45	46	45	36	39	43	49	55	46
Total Debt	1,226	1,207	1,271	1,320	1,334	1,286	1,336	1,276	1,295	1,240	1,227	1,195
Net Debt / (Cash)	1,176	1,156	1,220	1,275	1,288	1,241	1,300	1,237	1,251	1,191	1,173	1,149
Cash Flows Quarterly
FCF from Operations	-22	42	67	21	-20	70	-10	42	-20	-40	68	112
Cash Flows TTM
FCF from Operations TTM	108	110	138	61	82	82	-28	50	120	162	366	325
Returns to Shareholders Quarterly
Dividends	2	2	2	2	2	2	2	3	3	3	3	3
Share Repurchases	-0	-0	-0	-0	-0	-0	51	-0	-0	0	80	22
Return on Invested Capital (ROIC) Quarterly
ROIC	2.5%	-4.4%	8.0%	6.1%	-2.0%	-9.5%	11.4%	6.8%	2.1%	-7.4%	4.6%	14.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	3.0%	3.5%	2.3%	2.0%	2.0%	3.0%	0.2%	0.7%	3.4%	4.1%	8.7%	12.2%

Segment Financials

Revenue by Segment

$ Mil	2026	2025	2024	2023	2022
Retail	2,657	2,749	2,798
Brand Portfolio	363	399	349	328	286
Elimination of intersegment net sales	-127	-139	-72	-87	-94
Canada Retail				283	235
United States (US) Retail				2,792	2,770
Total	2,893	3,009	3,075	3,315	3,197

Operating Income by Segment

$ Mil	2026	2025	2024	2023
Retail	212	249	286
Brand Portfolio	11	3	-27	-23
Net recognition of intersegment activity	5	-10	3	4
Impairment charges	-4	-18	-5	-4
Corporate shared service costs	-175	-189	-186	-175
Canada Retail				36
United States (US) Retail				351
Total	48	35	72	187

Assets by Segment

$ Mil	2016	2015	2014	2013	2012
DSW	1,126	1,264	1,341	1,164	1,118
Other	138	70	0	0	-0
Affiliated Business Group	105	105	80	97
Leased Departments					90
Total	1,369	1,438	1,421	1,262	1,208

Price Behavior

Price Behavior

Market Price	$6.88
Market Cap ($ Bil)	0.3
First Trading Date	12/29/2006
Distance from 52W High	-24.5%
	50 Days	200 Days
DMA Price	$7.23	$5.86
DMA Trend	up	up
Distance from DMA	-4.9%	17.4%
	3M	1YR
Volatility	73.8%	90.0%
Downside Capture	252.82	187.77
Upside Capture	231.24	276.65
Correlation (SPY)	34.8%	30.1%

DBI Betas & Captures as of 5/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.69	1.97	1.89	1.84	2.21	1.76
Up Beta	0.03	2.36	2.09	1.63	1.83	1.79
Down Beta	1.87	1.92	1.18	3.36	3.06	1.85
Up Capture	155%	204%	198%	266%	438%	470%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	8	22	30	59	122	360
Down Capture	317%	135%	206%	92%	150%	112%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	11	17	31	62	118	375

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DBI
DBI	178.1%	90.4%	1.50	-
Sector ETF (XLY)	9.5%	18.3%	0.36	34.5%
Equity (SPY)	24.9%	12.3%	1.52	29.7%
Gold (GLD)	25.5%	27.4%	0.81	3.3%
Commodities (DBC)	30.1%	19.0%	1.25	-8.5%
Real Estate (VNQ)	13.5%	13.5%	0.69	20.3%
Bitcoin (BTCUSD)	-41.7%	42.2%	-1.16	20.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DBI
DBI	-14.3%	72.9%	0.10	-
Sector ETF (XLY)	7.3%	23.8%	0.26	39.8%
Equity (SPY)	13.5%	17.1%	0.61	37.2%
Gold (GLD)	16.8%	18.2%	0.75	1.7%
Commodities (DBC)	8.4%	19.4%	0.33	11.3%
Real Estate (VNQ)	2.8%	18.8%	0.05	29.6%
Bitcoin (BTCUSD)	13.6%	54.4%	0.44	13.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with DBI
DBI	-7.9%	75.8%	0.22	-
Sector ETF (XLY)	12.6%	22.1%	0.52	42.7%
Equity (SPY)	15.3%	17.9%	0.73	38.7%
Gold (GLD)	12.5%	16.1%	0.64	-3.1%
Commodities (DBC)	6.7%	18.0%	0.29	17.7%
Real Estate (VNQ)	5.7%	20.7%	0.24	35.7%
Bitcoin (BTCUSD)	60.3%	66.8%	1.00	13.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	7.0 Mil
Short Interest: % Change Since 5152026	5.9%
Average Daily Volume	0.4 Mil
Days-to-Cover Short Interest	17.3 days
Basic Shares Quantity	50.2 Mil
Short % of Basic Shares	13.9%

Returns Analyses

	Title
0	Would You Still Hold Designer Brands Stock If It Fell 30%?
1	Designer Brands Stock Return Comparison
2	[10/5/2021] Designer Brands (DBI) Stock Price Forecast: AI Forecasts DBI Stock Price To Be Around $14.9 In A Month (Up 3.2%)
3	Designer Brands Total Shareholder Return (TSR): 9.1% in 2022 and -20.9% 3-yr returns (below peer average)
4	Designer Brands (DBI) Stock Return: AI Predicts DBI Average and Excess Return After a Fall or Rise

Earnings Returns History

Updated 6/12/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
6/9/2026	-20.9%
3/26/2026	4.1%	7.0%	49.4%
12/9/2025	48.5%	77.3%	64.5%
9/9/2025	5.5%	5.8%	-17.3%
6/10/2025	-18.2%	-35.9%	-16.4%
3/20/2025	6.3%	-1.1%	-29.4%
12/10/2024	3.8%	1.0%	0.3%
9/11/2024	-11.5%	10.2%	2.7%
...
SUMMARY STATS
# Positive	11	12	10
# Negative	14	12	14
Median Positive	7.1%	5.6%	13.6%
Median Negative	-9.9%	-15.4%	-17.5%
Max Positive	48.5%	77.3%	64.5%
Max Negative	-33.3%	-35.9%	-39.3%

	Forward Returns
6/9/2026	-20.9%
3/26/2026	4.1%	7.0%	49.4%
12/9/2025	48.5%	77.3%	64.5%
9/9/2025	5.5%	5.8%	-17.3%
6/10/2025	-18.2%	-35.9%	-16.4%
3/20/2025	6.3%	-1.1%	-29.4%
12/10/2024	3.8%	1.0%	0.3%
9/11/2024	-11.5%	10.2%	2.7%
6/4/2024	-20.4%	-35.3%	-39.3%
3/21/2024	-5.5%	-7.4%	-23.3%
12/5/2023	-33.3%	-32.4%	-33.5%
9/7/2023	22.0%	12.8%	15.9%
6/8/2023	20.0%	21.8%	47.7%
3/16/2023	12.6%	4.8%	8.0%
12/1/2022	-25.2%	-31.0%	-35.8%
8/31/2022	3.4%	1.5%	-7.3%
6/2/2022	-1.1%	0.3%	-17.6%
3/17/2022	7.1%	5.4%	15.9%
12/7/2021	14.4%	3.0%	5.4%
8/31/2021	-8.3%	-16.4%	-4.6%
5/26/2021	-4.2%	-13.4%	-9.4%
3/16/2021	-2.1%	-1.4%	11.4%
12/9/2020	-8.2%	-13.4%	-4.2%
9/3/2020	-19.0%	-27.6%	-28.1%
6/18/2020	-0.8%	-14.3%	-15.4%
SUMMARY STATS
# Positive	11	12	10
# Negative	14	12	14
Median Positive	7.1%	5.6%	13.6%
Median Negative	-9.9%	-15.4%	-17.5%
Max Positive	48.5%	77.3%	64.5%
Max Negative	-33.3%	-35.9%	-39.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
04/30/2026	06/09/2026	10-Q
01/31/2026	03/30/2026	10-K
10/31/2025	12/09/2025	10-Q
07/31/2025	09/09/2025	10-Q
04/30/2025	06/10/2025	10-Q
01/31/2025	03/24/2025	10-K
10/31/2024	12/10/2024	10-Q
07/31/2024	09/11/2024	10-Q
04/30/2024	06/04/2024	10-Q
01/31/2024	03/25/2024	10-K
10/31/2023	12/05/2023	10-Q
07/31/2023	09/07/2023	10-Q
04/30/2023	06/08/2023	10-Q
01/31/2023	03/16/2023	10-K
10/31/2022	12/01/2022	10-Q
07/31/2022	08/31/2022	10-Q

Recent Forward Guidance

Updated 6/10/2026

Latest: Q1 2026 Earnings Reported 6/9/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Revenue Growth	-1.0%	0.0%	1.0%	0.0%	0.0%	Affirmed	Guidance: 0.0% for 2026
2026 EPS	0.28	0.33	0.38	0.0%		Affirmed	Guidance: 0.33 for 2026

Prior: Q3 2025 Earnings Reported 12/9/2025

null

Insider Activity

Updated 5/4/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Lau, Joanna T		Direct	Sell	12292025	8.00	13,105	104,840	678,032	Form
2	Ferree, Deborah L	V. Chair; Ch Product Off	Direct	Sell	12122025	8.06	142,277	1,146,753	2,471,921	Form
3	Sonnenberg, Harvey L		Direct	Sell	9122025	4.52	50,000	226,000	115,477	Form
4	Haley, Mark	SVP, Controller and PAO	Direct	Sell	9122025	4.80	11,218			Form

DBI Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

Diversification Alternatives

How Is The Market Pricing DBI?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What DBI Makes & Who Pays

TTM figures based on

DBI Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Consumer Discretionary Resources

Retail Dive

Business of Fashion (BoF)

WWD (Women's Wear Daily)

National Retail Federation (NRF)

McKinsey & Company - Consumer

Mintel Consumer Trends

Footwear Resources

Footwear News

Sneaker News

Sole Collector

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Core Cache Last Updated: 6/14/2026

Designer Brands (DBI)

Market Price (6/15/2026): $6.9 | Market Cap: $346.7 MilSector: Consumer Discretionary | Industry: Footwear

Designer Brands (DBI)

Market Price (6/15/2026): $6.9Market Cap: $346.7 MilSector: Consumer DiscretionaryIndustry: Footwear

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Designer Brands (DBI)

Footwear Market

Fashion Accessories Market (including Handbags)

Interactive Breakdown

Better Bets vs. Designer Brands (DBI)

INDUSTRY: Footwear

Higher Rev Chg LTM (Value for DBI: -1.6%)

Higher Rev Chg 3Y Avg (Value for DBI: -3.5%)

Higher Op Mgn LTM (Value for DBI: 2.2%)

Higher CFO/Rev LTM (Value for DBI: 3.7%)

Higher FCF/Rev LTM (Value for DBI: 2.5%)

Higher Total Yield (Value for DBI: 5.8%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for DBI: -3.5% | 0.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DBI: -3.5% | 5.4x)

Higher Rev Chg LTM (Value for DBI: -1.6%)

Higher Rev Chg 3Y Avg (Value for DBI: -3.5%)

Higher Op Mgn LTM (Value for DBI: 2.2%)

Higher CFO/Rev LTM (Value for DBI: 3.7%)

Higher FCF/Rev LTM (Value for DBI: 2.5%)

Higher Total Yield (Value for DBI: 5.8%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for DBI: -3.5% | 0.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for DBI: -3.5% | 5.4x)

Higher Rev Chg LTM (Value for DBI: -1.6%)

Higher Rev Chg 3Y Avg (Value for DBI: -3.5%)

Higher Op Mgn LTM (Value for DBI: 2.2%)

Higher CFO/Rev LTM (Value for DBI: 3.7%)

Higher FCF/Rev LTM (Value for DBI: 2.5%)

Higher Total Yield (Value for DBI: 5.8%)

Best Bets in Consumer Discretionary

P/EBIT (Value for DBI: 4.7x)

P/E (Value for DBI: 33.9x)

Rev Chg 3Y Avg (Value for DBI: -3.5%)

Rev Chg LTM (Value for DBI: -1.6%)

Rev Chg Q (Value for DBI: 1.4%)

FCF/Rev 3Y Avg (Value for DBI: 2.0%)

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Market Price (6/15/2026): $6.9
Market Cap: $346.7 Mil
Sector: Consumer Discretionary
Industry: Footwear