DBINYSERetail-Shoe StoresUS GAAP · USD

Designer Brands Inc.

Designer Brands Inc. is a footwear and accessories retailer and brand owner that operates DSW in the U.S., The Shoe Co., DSW, and Rubino in Canada, and a Brand Portfolio business that sells owned and licensed brands wholesale and direct-to-consumer. The company combines store-based retail, e-commerce, and brand licensing/sourcing to move shoes and accessories through both consumer and wholesale channels.

Kysy yhtiöstä
Liikevaihto2 893milj. USD
−3,9 %v/v
Liikevoitto (EBIT)47,8milj. USD
+36,7 %v/v
EBIT-marginaali1,7%
+0,5 %-yks.v/v
Nettotulos−8,4milj. USD
+20,6 %v/v
Vapaa kassavirta78,3milj. USD
+149,7 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−1 00001 0002 0003 0004 000milj. USD2021: 3 197 milj. USD2021: EBIT 205 milj. USD20212022: 3 315 milj. USD2022: EBIT 187 milj. USD20222023: 3 075 milj. USD2023: EBIT 72 milj. USD20232024: 3 009 milj. USD2024: EBIT −26 milj. USD20242025: 3 009 milj. USD2025: EBIT 35 milj. USD20252026: 2 893 milj. USD2026: EBIT 48 milj. USD20262 89348
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Designer Brands Inc.

Liiketoiminta

Osuus liikevaihdosta
U.S. Retail55 %

DSW-branded stores and e-commerce in the United States selling national brands and Owned Brands.

Canada Retail20 %

Canadian store and online banners including The Shoe Co., DSW, and Rubino.

Brand Portfolio Wholesale18 %

Wholesale sales of Owned Brands and other branded products to retailers and distributors.

Brand Portfolio Direct-to-Consumer5 %

E-commerce sales of Vince Camuto, Keds, and Topo branded products.

Design and Buying Agent / Licensing2 %

Commission income and licensed footwear and handbag programs tied to brand ownership and sourcing.

Asiakkaat

The core customer is the value-conscious footwear shopper who buys branded shoes, athletic footwear, and accessories through DSW and the Canadian banners, often using loyalty rewards and omnichannel fulfillment. The Brand Portfolio business serves wholesale retail customers, international distributors, and direct-to-consumer shoppers for specific owned brands. The company also sells to private-label retail partners through design and buying agent arrangements.

U.S. retail rewards shoppers

Consumers shopping DSW in stores and online, motivated by brand selection, convenience, and VIP rewards.

Canada retail shoppers

Canadian customers buying branded footwear and accessories through The Shoe Co., DSW, and Rubino.

Wholesale retail customers

Retailers and distributors that buy Owned Brands and other branded products in bulk.

Direct-to-consumer brand buyers

Shoppers purchasing Vince Camuto, Keds, and Topo through brand-specific e-commerce sites.

Private-label partners

Retailers that pay commissions for design and buying agent support on private-label programs.

Strategia

The company is focused on running an omnichannel footwear platform that links stores, e-commerce, buy-online-pick-up-in-store, and ship-from-store fulfillment. It is also expanding the role of Owned Brands and licensed brands to improve assortment control, while using acquisitions such as Keds and Rubino to broaden category and geographic reach. Management is balancing growth with margin protection by optimizing sourcing, order routing, and inventory productivity.

Strengthen omnichannel retail executionLyhyt aikaväli

The business depends on traffic, conversion, and convenient fulfillment across store and digital channels.

Expand Owned Brands and licensed brandsKeskipitkä aikaväli

More proprietary product improves assortment differentiation and can support better economics than pure third-party retail.

Improve sourcing and inventory efficiencyLyhyt aikaväli

The company needs to protect margins and service levels while managing tariffs, freight, and seasonal inventory swings.

Broaden the Canadian platformKeskipitkä aikaväli

Rubino adds Quebec exposure and expands the addressable market within Canada.

Maantiede

2026

Designer Brands generates most of its business in the United States and Canada, with U.S. Retail and Canada Retail as the main operating platforms. The company also sources heavily from Asia, especially China, which creates supply-chain and tariff exposure even though sales are concentrated in North America. Rubino expanded the Canadian footprint into Quebec, while the Brand Portfolio segment uses third-party manufacturing outside the U.S. for all of its products.

USA90 %
Kanada10 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Designer Brands is exposed to discretionary spending weakness because footwear is a non-essential purchase and traffic depends heavily on consumer confidence and rewards engagement. The company also faces meaningful sourcing and tariff risk, especially from China, plus e-commerce, cyber, and data-security risks tied to its omnichannel model. Brand concentration, wholesale customer dependence, and ESG/reputation scrutiny add further pressure to margins and demand.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Discretionary consumer spending slowdown1Customer concentration in Brand Portfolio2China tariffs and sourcing disruption3Rewards program dependence4E-commerce and cybersecurity failures5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Discretionary consumer spending slowdownVaikutus: KorkeaTodennäköisyys: Korkea

    Footwear demand is sensitive to consumer confidence, traffic, and promotional activity.

    Kohdistuu: U.S. and Canada retail segments

  2. Customer concentration in Brand PortfolioVaikutus: KorkeaTodennäköisyys: Korkea

    Five customers represented 38.0% of Brand Portfolio segment net sales in 2024.

    Kohdistuu: Wholesale and distribution customers

  3. China tariffs and sourcing disruptionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A large share of Brand Portfolio units are sourced from China and many retail suppliers also import from China.

    Kohdistuu: Brand Portfolio and retail merchandise sourcing

  4. Rewards program dependenceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    About 86% of combined U.S. and Canada retail sales came from rewards members in 2024.

    Kohdistuu: VIP loyalty programs

  5. E-commerce and cybersecurity failuresVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Digital sales depend on stable IT systems, payment processing, and data protection.

    KohdistuuOnline storesMobile appsCustomer data
Kysy Clarifolta: Designer Brands Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition by channel

Retail, wholesale, direct-to-consumer, and commission revenue have different recognition patterns and timing.

Vaikutus: Can shift quarterly sales and margin mix

Inventory valuation and markdown reserves

Footwear is seasonal and fashion-driven, so excess or slow-moving inventory can require markdowns.

Vaikutus: Affects gross margin and working capital

Lease accounting

Store and distribution leases are a major operating cost and balance sheet liability.

Vaikutus: Affects operating expenses, leverage, and cash flow presentation

Goodwill and intangible assets

Acquisitions such as Keds and Rubino create acquired assets that must be tested for impairment.

Vaikutus: Could create non-cash charges if performance weakens

Seasonality and working capital

Inventory purchases, holiday demand, and promotional cycles create large intra-year swings.

Vaikutus: Affects quarterly revenue, margins, and liquidity

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Wolverine World Wide, Inc

WWW · Footwear, (No Rubber)

Genesco Inc

GCO · Retail-Shoe Stores

Rocky Brands, Inc

RCKY · Footwear, (No Rubber)

Canada Goose Holdings Inc.

GOOS · Apparel & Other Finishd Prods of Fabrics & Similar Matl

Birkenstock Holding plc

BIRK · Footwear, (No Rubber)

Steven Madden, Ltd

SHOO · Footwear, (No Rubber)

Päivitetty: 24.9.2026

Designer Brands Inc. (DBI) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo