# EDGAR Filing Document

**Accession Number:** 0001319947
**File Stem:** 0001319947-26-000038
**Filing Date:** 2026-6
**Character Count:** 35363
**Document Hash:** 4da37a6b30e42178d2a77adb2af21f55
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001319947-26-000038.hdr.sgml**: 20260609

**ACCESSION NUMBER**: 0001319947-26-000038

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260609

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260609

**DATE AS OF CHANGE**: 20260609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Designer Brands Inc.
- **CENTRAL INDEX KEY:** 0001319947
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-SHOE STORES [5661]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 310746639
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0130

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32545
- **FILM NUMBER:** 261074547

**BUSINESS ADDRESS:**
- **STREET 1:** 810 DSW DRIVE
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43219
- **BUSINESS PHONE:** (614) 237-7100

**MAIL ADDRESS:**
- **STREET 1:** 810 DSW DRIVE
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43219

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DSW Inc.
- **DATE OF NAME CHANGE:** 20050307

?xml version='1.0' encoding='ASCII'? dbi-20260609

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): June 9, 2026** 

**Designer Brands Inc.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Ohio** | **001-32545** | **31-0746639** |
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

---

| | |
|:---|:---|
| **810 DSW Drive, Columbus, Ohio** | **43219** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(614) 237-7100**

---

| |
|:---|
| **N/A** |
| (Former name or former address if changed since last report.) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Class A Common Shares, without par value** | **DBI** | **New York Stock Exchange** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange

Act.&nbsp;&nbsp;&nbsp;&nbsp;☐

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**Item 2.02 Results of Operations and Financial Condition.** 

On June 9, 2026, Designer Brands Inc. (the "Company") issued a press release announcing its consolidated financial results for the quarter ended May 2, 2026. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section. Furthermore, the information in this Item 2.02 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| <u>[99.1](q120268-kex991pressrelease.htm)</u> | <u>[Press Release of Designer Brands Inc., dated June 9, 2026.](q120268-kex991pressrelease.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**Signature** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | By: | **Designer Brands Inc.**<br>/s/ Lisa M. Yerrace |
| | | | Lisa M. Yerrace |
| | | | Senior Vice President, General Counsel and Corporate Secretary |
| Date: | June 9, 2026 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**

**Designer Brands Inc. Reports First Quarter 2026 Financial Results**

*Strong momentum continued with first quarter net sales growth meeting and adjusted diluted earnings per share ("EPS") exceeding expectations*

*Gross margin expansion of 240 basis points*

*Anticipates full year 2026 EPS trending toward the high end of guidance range*

COLUMBUS, Ohio, June 9, 2026 - Designer Brands Inc. (NYSE: DBI) (the "Company," "we," "us," "our," and "Designer Brands"), one of the world's largest designers, producers, and retailers of footwear and accessories, today announced financial results for the first quarter ended May 2, 2026.

"Our strong start to the year was underscored by double-digit sales growth in our Brand Portfolio segment and encouraging stabilization in our Retail segment," said Doug Howe, Chief Executive Officer. "In addition to top-line strength, we delivered meaningful profitability gains, with gross margin expanding 240 basis points, reflecting the structural improvements we have made across inventory management, pricing discipline, sourcing, and channel profitability."

Howe continued, "Following our encouraging start to the year, we believe in our ability to achieve the high end of our fiscal 2026 EPS guidance range, even amidst ongoing uncertainty in the macroeconomic environment. We believe our strategic actions will continue to strengthen our foundation of the business and position us well for long-term profitable growth."

**<u>First Quarter Operating Results</u>** *(Unless otherwise stated, all comparisons are to the first quarter of* 2025*)*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Net sales increased 1.4% to $696.4 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total comparable sales decreased by 1.1%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•*** Gross profit increased to $315.3 million versus $294.5 million last year, and gross margin was 45.3% compared to 42.9% last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•*** Reported net income attributable to Designer Brands Inc. was $1.2 million, or diluted EPS of $0.02.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted net income was $3.8 million, or adjusted diluted EPS of $0.07.

------

**<u>Liquidity</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash and cash equivalents totaled $50.1 million at the end of the first quarter of 2026, compared to $46.0 million at the end of the same period last year, with $138.5 million available for borrowings under our senior secured asset-based revolving credit facility. Debt totaled $475.3 million at the end of the first quarter of 2026 compared to $522.9 million at the end of the same period last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company ended the first quarter of 2026 with inventories of $586.6 million compared to $623.6 million at the end of the same period last year.

**<u>Store Count</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(square footage in thousands)* | **May 2, 2026** | **May 2, 2026** | May 3, 2025 | May 3, 2025 |
|  | **Number of Stores** | **Square Footage** | Number of Stores | Square Footage |
| DSW stores | **518** | **10150** | 520 | 10237 |
| The Shoe Co. stores | **118** | **599** | 121 | 620 |
| Rubino stores | **27** | **140** | 28 | 149 |
| Total number of stores | **663** | **10889** | 669 | 11006 |

---

**<u>2026 Financial Outlook</u>**

The Company is reaffirming the following guidance for the full year 2026:

---

| | |
|:---|:---|
| **Metric** | **2026 Guidance** |
| Designer Brands Change in Net Sales | Down 1% to Up 1% |
| Diluted Earnings per Share | $0.28 - $0.38 |

---

**<u>Webcast and Conference Call</u>**

The Company is hosting a conference call today at 8:30 am Eastern Time. Investors and analysts interested in participating in the call are invited to dial 1-888-317-6003, or the international dial-in, 1-412-317-6061, and reference conference ID number 6930887 approximately ten minutes prior to the start of the conference call. The conference call will also be broadcast live over the internet and can be accessed through the following link, as well as through the Company's investor website at investors.designerbrands.com:

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https://app.webinar.net/704rZBvZkGJ

For those unable to listen to the live webcast, an archived version will be available on the Company's investor website until June 23, 2026. A replay of the teleconference will be available by dialing the following numbers:

North America: 1-855-669-9658

International: 1-412-317-0088

Passcode: 7496602

Important information may be disseminated initially or exclusively via the Company's investor website; investors should consult the website to access this information.

**<u>About Designer Brands</u>**

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**<u>Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995</u>**

Certain statements in this press release may constitute forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of forward-looking 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. These statements are based on the Company's current views and expectations and involve known and unknown risks, uncertainties, and other factors, many of which are outside of the Company's control, that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These factors include, but are not limited to: uncertain general economic and financial conditions, including economic volatility and potential downturn or recession, supply chain disruptions, new or increased tariffs and other barriers to trade, tariff refunds, fluctuating interest rates, unemployment rates and inflationary pressures, and the related impacts to consumer discretionary spending, as well as our ability to plan for and respond to the impact of these conditions; our ability to anticipate and respond to rapidly changing consumer preferences, seasonality, customer expectations, and fashion trends; the impact on our consumer traffic and demand, our business operations, and the operations of our suppliers, as we experience unseasonable weather, climate change evolves, and the frequency and severity of weather events increases; our ability to execute our business strategies, including growing our Brand Portfolio segment, enhancing in-store and digital shopping experiences, integrating previously acquired businesses and brands, and meeting consumer demands; our ability to maintain strong relationships with our suppliers, vendors, licensors, and retailer customers; risks related to losses or disruptions associated with our distribution systems, including our distribution centers and stores, and payment processing services whether as a result of reliance on third-party providers or otherwise; our reliance on third parties to provide customer payment processing services; risks related to cyber security threats and privacy or data security breaches or the potential loss or disruption of our information technology ("IT") systems, or those of our vendors; risks related to the implementation of new or updated IT systems, including the use of artificial intelligence tools; our ability to protect our reputation and to maintain the brands we license; our reliance on our reward programs and marketing to drive traffic, sales, and customer loyalty; our ability to successfully integrate new hires or changes in leadership and retain our existing management team, and to continue to attract qualified new personnel; risks related

------

to restrictions imposed by our senior secured asset-based revolving credit facility, as amended, and our senior secured term loan credit agreement, as amended, that could limit our ability to fund our operations; our competitiveness with respect to style, price, brand availability, shopping platforms, and customer service; risks related to our international operations and our reliance on foreign sources for merchandise; our ability to comply with laws and regulations, as well as other legal obligations; risks associated with climate change and other corporate responsibility issues; and uncertainties related to future legislation, regulatory reform, policy changes, or interpretive guidance on existing legislation. Risks and other factors that could cause our actual results to differ materially from our forward-looking statements are described in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2026 or our other reports made or filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the time when made. Except as may be required by applicable law, the Company undertakes no obligation to update or revise the forward looking statements included in this press release to reflect any future events or circumstances.

------

**DESIGNER BRANDS INC.** 

**SEGMENT RESULTS**

(unaudited)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Net Sales** | **Net Sales** | **Net Sales** | **Net Sales** | **Net Sales** | **Net Sales** | **Net Sales** |
| | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | | |
| *(dollars in thousands)* | **May 2, 2026** | **May 2, 2026** | May 3, 2025 | May 3, 2025 | Change | Change |
|  | **Amount** | **% of Segment Net Sales** | Amount | % of Segment Net Sales | Amount | % |
| Segment net sales: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Retail | $**626684** | **84.5%** | $627145 | 86.7% | $(461) | (0.1)% |
| &nbsp;&nbsp;Brand Portfolio | **114518** | **15.5** | 95898 | 13.3 | 18620 | 19.4% |
| &nbsp;&nbsp;Total segment net sales | **741202** | **100.0%** | 723043 | 100.0% | 18159 | 2.5% |
| Elimination of intersegment net sales | **(44852)** |  | (36134) |  | (8718) | 24.1% |
| Consolidated net sales | $**696350** |  | $686909 |  | $9441 | 1.4% |

---

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| | | |
|:---|:---|:---|
| **Comparable Sales** | **Comparable Sales** | **Comparable Sales** |
| | **Three months ended** | **Three months ended** |
|  | **May 2, 2026** | May 3, 2025 |
| Change in comparable sales: |  |  |
| &nbsp;&nbsp;Retail segment | **(1.2)%** | (7.5)% |
| &nbsp;&nbsp;Brand Portfolio segment - direct-to-consumer channel | **3.0%** | (27.0)% |
| &nbsp;&nbsp;Total | **(1.1)%** | (7.8)% |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Gross Profit** | **Gross Profit** | **Gross Profit** | **Gross Profit** | **Gross Profit** | **Gross Profit** | **Gross Profit** | **Gross Profit** |
| | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | | | |
| *(dollars in thousands)* | **May 2, 2026** | **May 2, 2026** | May 3, 2025 | May 3, 2025 | Change | Change | Change |
|  | **Amount** | **% of Segment Net Sales** | Amount | % of Segment Net Sales | Amount | % | Basis Points |
| Segment gross profit: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Retail | $**284296** | **45.4%** | $268200 | 42.8% | $16096 | 6.0% | 260 |
| &nbsp;&nbsp;Brand Portfolio | **38877** | **33.9%** | 26026 | 27.1% | 12851 | 49.4% | 680 |
| Total segment gross profit | **323173** | **43.6%** | 294226 | 40.7% | 28947 | 9.8% | 290 |
| Net recognition (elimination) of intersegment gross profit | **(7855)** |  | 255 |  | (8110) |  |  |
| Consolidated gross profit | $**315318** | **45.3%** | $294481 | 42.9% | $20837 | 7.1% | 240 |

---

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| | | |
|:---|:---|:---|
| **Intersegment Recognition and Elimination Activity** | **Intersegment Recognition and Elimination Activity** | **Intersegment Recognition and Elimination Activity** |
| | **Three months ended** | **Three months ended** |
| *(in thousands)* | **May 2, 2026** | May 3, 2025 |
| Intersegment recognition and elimination activity: |  |  |
| &nbsp;&nbsp;Elimination of net sales recognized by Brand Portfolio segment | $**(44852)** | $(36134) |
| &nbsp;&nbsp;Cost of sales: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Elimination of cost of sales recognized by Brand Portfolio segment | **28003** | 25814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Recognition of intersegment gross profit for inventory previously purchased that was subsequently sold to external customers during the current period | **8994** | 10575 |
|  | $**(7855)** | $255 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Operating Profit** | **Operating Profit** | **Operating Profit** | **Operating Profit** | **Operating Profit** | **Operating Profit** | **Operating Profit** | **Operating Profit** |
| | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | | | |
| *(dollars in thousands)* | **May 2, 2026** | **May 2, 2026** | May 3, 2025 | May 3, 2025 | Change | Change | Change |
|  | **Amount** | **% of Segment Net Sales** | Amount | % of Segment Net Sales | Amount | % | Basis Points |
| Segment operating profit: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Retail | $**51278** | **8.2%** | $39973 | 6.4% | $11305 | 28.3% | 180 |
| &nbsp;&nbsp;&nbsp;Brand Portfolio | **15423** | **13.5%** | 1946 | 2.0% | 13477 | 692.5% | 1150 |
| Total segment operating profit | **66701** | **9.0%** | 41919 | 5.8% | 24782 | 59.1% | 320 |
| Corporate/eliminations | **(47831)** |  | (49826) |  | 1995 | (4.0)% |  |
| Consolidated operating profit (loss) | $**18870** | **2.7%** | $(7907) | (1.2)% | $26777 | NM | NM |

---

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**Immaterial Restatements of Prior Period Financial Results**

During the first quarter of 2026, we identified that our previously acquired Topo business was utilizing incorrect duty rates applied to many of our Topo branded products imported into the U.S., both before and after the acquisition date. While the prior period amounts have been restated, as detailed below for comparability, the impact of the corrections in periods prior to the first quarter of 2026 are not material to the consolidated financial statements in any of the impacted periods. For additional information, refer to Notes 1 and 12 to our Form 10-Q for the period ended May 2, 2026.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in thousands, except per share amounts, unaudited)* | Three months ended May 3, 2025 | Three months ended May 3, 2025 | Three months ended May 3, 2025 | Three months ended May 3, 2025 | Three months ended May 3, 2025 |
|  | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales |
| Consolidated: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $686909 | 100.0% | $— | $686909 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (391783) | (57.0) | (645) | (392428) | (57.1) |
| &nbsp;&nbsp;&nbsp;Gross profit | $295126 | 43.0% | $(645) | $294481 | 42.9% |
| &nbsp;&nbsp;&nbsp;Operating loss | $(7262) | (1.1)% | $(645) | $(7907) | (1.2)% |
| &nbsp;&nbsp;&nbsp;Net loss attributable to Designer Brands Inc. | $(17424) |  | $(392) | $(17816) |  |
| &nbsp;&nbsp;&nbsp;Diluted loss per share | $(0.36) |  | $(0.01) | $(0.37) |  |
| Brand Portfolio segment: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $95898 | 100.0% | $— | $95898 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (69227) | (72.2) | (645) | (69872) | (72.9) |
| &nbsp;&nbsp;&nbsp;Gross profit | $26671 | 27.8% | $(645) | $26026 | 27.1% |
| &nbsp;&nbsp;&nbsp;Operating profit | $2591 | 2.7% | $(645) | $1946 | 2.0% |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands, except per share amounts, unaudited)* | Three months ended August 2, 2025 | Three months ended August 2, 2025 | Three months ended August 2, 2025 | Three months ended August 2, 2025 | Three months ended August 2, 2025 | Six months ended August 2, 2025 | Six months ended August 2, 2025 | Six months ended August 2, 2025 | Six months ended August 2, 2025 | Six months ended August 2, 2025 |
|  | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales |
| Consolidated: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $739762 | 100.0% | $— | $739762 | 100.0% | $1426671 | 100.0% | $— | $1426671 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (416829) | (56.3) | (440) | (417269) | (56.4) | (808612) | (56.7) | (1085) | (809697) | (56.8) |
| &nbsp;&nbsp;&nbsp;Gross profit | $322933 | 43.7% | $(440) | $322493 | 43.6% | $618059 | 43.3% | $(1085) | $616974 | 43.2% |
| &nbsp;&nbsp;&nbsp;Operating income | $26583 | 3.6% | $(440) | $26143 | 3.5% | $19321 | 1.4% | $(1085) | $18236 | 1.3% |
| &nbsp;&nbsp;&nbsp;Net income (loss) attributable to Designer Brands Inc. | $10827 |  | $(292) | $10535 |  | $(6597) |  | $(684) | $(7281) |  |
| &nbsp;&nbsp;&nbsp;Diluted earnings (loss) per share | $0.22 |  | $(0.01) | $0.21 |  | $(0.14) |  | $(0.01) | $(0.15) |  |
| Brand Portfolio segment: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $73157 | 100.0% | $— | $73157 | 100.0% | $169055 | 100.0% | $— | $169055 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (54649) | (74.7) | (440) | (55089) | (75.3) | (123876) | (73.3) | (1085) | (124961) | (73.9) |
| &nbsp;&nbsp;&nbsp;Gross profit | $18508 | 25.3% | $(440) | $18068 | 24.7% | $45179 | 26.7% | $(1085) | $44094 | 26.1% |
| &nbsp;&nbsp;&nbsp;Operating loss | $(3606) | (4.9)% | $(440) | $(4046) | (5.5)% | $(1015) | (0.6)% | $(1085) | $(2100) | (1.2)% |

---

------

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands, except per share amounts, unaudited)* | Three months ended November 1, 2025 | Three months ended November 1, 2025 | Three months ended November 1, 2025 | Three months ended November 1, 2025 | Three months ended November 1, 2025 | Nine months ended November 1, 2025 | Nine months ended November 1, 2025 | Nine months ended November 1, 2025 | Nine months ended November 1, 2025 | Nine months ended November 1, 2025 |
|  | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales |
| Consolidated: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $752411 | 100.0% | $— | $752411 | 100.0% | $2179082 | 100.0% | $— | $2179082 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (412792) | (54.9) | (359) | (413151) | (54.9) | (1221404) | (56.1) | (1444) | (1222848) | (56.1) |
| &nbsp;&nbsp;&nbsp;Gross profit | $339619 | 45.1% | $(359) | $339260 | 45.1% | $957678 | 43.9% | $(1444) | $956234 | 43.9% |
| &nbsp;&nbsp;&nbsp;Operating income | $42663 | 5.7% | $(359) | $42304 | 5.6% | $61984 | 2.8% | $(1444) | $60540 | 2.8% |
| &nbsp;&nbsp;&nbsp;Net income attributable to Designer Brands Inc. | $18215 |  | $991 | $19206 |  | $11618 |  | $307 | $11925 |  |
| &nbsp;&nbsp;&nbsp;Diluted earnings per share | $0.35 |  | $0.02 | $0.37 |  | $0.23 |  | $0.01 | $0.24 |  |
| Brand Portfolio segment: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $101923 | 100.0% | $— | $101923 | 100.0% | $270978 | 100.0% | $— | $270978 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (72955) | (71.6) | (359) | (73314) | (71.9) | (196831) | (72.6) | (1444) | (198275) | (73.2) |
| &nbsp;&nbsp;&nbsp;Gross profit | $28968 | 28.4% | $(359) | $28609 | 28.1% | $74147 | 27.4% | $(1444) | $72703 | 26.8% |
| &nbsp;&nbsp;&nbsp;Operating income | $8256 | 8.1% | $(359) | $7897 | 7.7% | $7241 | 2.7% | $(1444) | $5797 | 2.1% |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *(in thousands, except per share amounts, unaudited)* | Three months ended January 31, 2026 | Three months ended January 31, 2026 | Three months ended January 31, 2026 | Three months ended January 31, 2026 | Three months ended January 31, 2026 | Twelve months ended January 31, 2026 | Twelve months ended January 31, 2026 | Twelve months ended January 31, 2026 | Twelve months ended January 31, 2026 | Twelve months ended January 31, 2026 |
|  | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales | Previously Reported | % of Net Sales | Adjustments | As Adjusted | % of Net Sales |
| Consolidated: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $713589 | 100.0% | $— | $713589 | 100.0% | $2892671 | 100.0% | $— | $2892671 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (410877) | (57.6) | (630) | (411507) | (57.7) | (1632281) | (56.4) | (2074) | (1634355) | (56.5) |
| &nbsp;&nbsp;&nbsp;Gross profit | $302712 | 42.4% | $(630) | $302082 | 42.3% | $1260390 | 43.6% | $(2074) | $1258316 | 43.5% |
| &nbsp;&nbsp;&nbsp;Operating income (loss) | $(14220) | (2.0)% | $(630) | $(14850) | (2.1)% | $47764 | 1.7% | $(2074) | $45690 | 1.6% |
| &nbsp;&nbsp;&nbsp;Net loss attributable to Designer Brands Inc. | $(19992) |  | $273 | $(19719) |  | $(8374) |  | $580 | $(7794) |  |
| &nbsp;&nbsp;&nbsp;Diluted loss per share | $(0.40) |  | $— | $(0.40) |  | $(0.17) |  | $0.01 | $(0.16) |  |
| Brand Portfolio segment: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net sales | $91883 | 100.0% | $— | $91883 | 100.0% | $362861 | 100.0% | $— | $362861 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of sales | (63239) | (68.8) | (630) | (63869) | (69.5) | (260070) | (71.7) | (2074) | (262144) | (72.2) |
| &nbsp;&nbsp;&nbsp;Gross profit | $28644 | 31.2% | $(630) | $28014 | 30.5% | $102791 | 28.3% | $(2074) | $100717 | 27.8% |
| &nbsp;&nbsp;&nbsp;Operating income | $3667 | 4.0% | $(630) | $3037 | 3.3% | $10908 | 3.0% | $(2074) | $8834 | 2.4% |

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**DESIGNER BRANDS INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

(unaudited and in thousands, except per share amounts)

---

| | | |
|:---|:---|:---|
| | **Three months ended** | **Three months ended** |
| | **May 2, 2026** | May 3, 2025 |
| Net sales | $**696350** | $686909 |
| Cost of sales | **(381032)** | (392428) |
| Gross profit | **315318** | 294481 |
| Operating expenses | **(299209)** | (301862) |
| Income from equity investments | **2761** | 2427 |
| Impairment charges | **—** | (2953) |
| Operating profit (loss) | **18870** | (7907) |
| Interest expense, net | **(10125)** | (11971) |
| Non-operating income (expenses), net | **(5)** | 8 |
| Income (loss) before income taxes and loss from equity investment | **8740** | (19870) |
| Income tax benefit (provision) | **(4805)** | 2189 |
| Loss from equity investment | **(481)** |  |
| Net income (loss) | **3454** | (17681) |
| Net income attributable to redeemable noncontrolling interest | **(2295)** | (135) |
| Net income (loss) attributable to Designer Brands Inc. | $**1159** | $(17816) |
| Diluted earnings (loss) per share attributable to Designer Brands Inc. | $**0.02** | $(0.37) |
| Weighted average diluted shares | **55920** | 48243 |

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**DESIGNER BRANDS INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

(unaudited and in thousands)

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| | | | |
|:---|:---|:---|:---|
| | **May 2, 2026** | January 31, 2026 | May 3, 2025 |
| ASSETS |  |  |  |
| Current assets: |  |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $**50104** | $50871 | $46025 |
| &nbsp;&nbsp;Receivables, net | **77725** | 61716 | 57941 |
| &nbsp;&nbsp;Inventories | **586635** | 563547 | 623584 |
| &nbsp;&nbsp;Prepaid expenses and other current assets | **49703** | 34286 | 47975 |
| &nbsp;&nbsp;Total current assets | **764167** | 710420 | 775525 |
| Property and equipment, net | **209164** | 213291 | 230559 |
| Operating lease assets | **673681** | 675648 | 719749 |
| Goodwill | **130830** | 130837 | 130714 |
| Intangible assets, net | **80734** | 81242 | 85062 |
| Deferred tax assets | **34693** | 35882 | 50801 |
| Equity investments | **56733** | 56260 | 54862 |
| Other assets | **48194** | 46325 | 46046 |
| Total assets | $**1998196** | $1949905 | $2093318 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND SHAREHOLDERS' EQUITY |  |  |  |
| Current liabilities: |  |  |  |
| &nbsp;&nbsp;Accounts payable | $**236278** | $236195 | $261787 |
| &nbsp;&nbsp;Accrued expenses | **202398** | 178430 | 187808 |
| &nbsp;&nbsp;Current maturities of long-term debt | **6750** | 6750 | 6750 |
| &nbsp;&nbsp;Current operating lease liabilities | **158034** | 175515 | 158171 |
| &nbsp;&nbsp;Total current liabilities | **603460** | 596890 | 614516 |
| Long-term debt | **468521** | 428206 | 516192 |
| Non-current operating lease liabilities | **593156** | 596587 | 650438 |
| Other non-current liabilities | **48562** | 46606 | 46478 |
| Total liabilities | **1713699** | 1668289 | 1827624 |
| Redeemable noncontrolling interest | **3571** | 1616 | 2212 |
| Total shareholders' equity | **280926** | 280000 | 263482 |
| Total liabilities, redeemable noncontrolling interest, and shareholders' equity | $**1998196** | $1949905 | $2093318 |

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**DESIGNER BRANDS INC.** 

**NON-GAAP RECONCILIATION**

(unaudited and in thousands, except per share amounts)

---

| | | |
|:---|:---|:---|
| | **Three months ended** | **Three months ended** |
| | **May 2, 2026** | May 3, 2025 |
| Operating expenses | $**(299209)** | $(301862) |
| Non-GAAP adjustments- |  |  |
| &nbsp;&nbsp;Restructuring and integration costs | **508** | 3875 |
| &nbsp;&nbsp;Total non-GAAP adjustments | **508** | 3875 |
| Adjusted operating expenses | $**(298701)** | $(297987) |
| Operating profit (loss) | $**18870** | $(7907) |
| Non-GAAP adjustments: |  |  |
| &nbsp;&nbsp;Restructuring and integration costs | **508** | 3875 |
| &nbsp;&nbsp;Impairment charges | **—** | 2953 |
| &nbsp;&nbsp;Total non-GAAP adjustments | **508** | 6828 |
| Adjusted operating profit (loss) | $**19378** | $(1079) |
| Net income (loss) attributable to Designer Brands Inc. | $**1159** | $(17816) |
| Non-GAAP adjustments: |  |  |
| &nbsp;&nbsp;Restructuring and integration costs | **508** | 3875 |
| &nbsp;&nbsp;Impairment charges | **—** | 2953 |
| &nbsp;&nbsp;Interest expense on under-reported import duties | **159** | 103 |
| &nbsp;&nbsp;Foreign currency transaction losses (gains) | **5** | (8) |
| &nbsp;&nbsp;Total non-GAAP adjustments before tax effect | **672** | 6923 |
| &nbsp;&nbsp;Tax effect of adjustments and changes in valuation allowance | **(320)** | (2192) |
| &nbsp;&nbsp;Total non-GAAP adjustments, after tax | **352** | 4731 |
| &nbsp;&nbsp;Net income attributable to redeemable noncontrolling interest | **2295** | 135 |
| Adjusted net income (loss) | $**3806** | $(12950) |
| Diluted earnings (loss) per share | $**0.02** | $(0.37) |
| Adjusted diluted earnings (loss) per share | $**0.07** | $(0.27) |

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**<u>Non-GAAP Measures</u>**

To supplement amounts presented in our consolidated financial statements determined in accordance with accounting principles generally accepted in the U.S. ("GAAP"), the Company uses certain non-GAAP financial measures, including adjusted operating expenses, adjusted operating profit (loss), adjusted net income (loss), and adjusted diluted earnings (loss) per share as shown in the table above. These measures adjust for the effects of: (1) restructuring and integration costs, including severance charges; (2) impairment charges; (3) interest expense on under-reported import duties; (4) foreign currency transaction losses (gains); (5) the net tax impact of such items and changes in the valuation allowance on deferred tax assets; and (6) net income attributable to redeemable noncontrolling interest. The unaudited adjusted results should not be construed as an alternative to the reported

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results determined in accordance with GAAP. These financial measures are not based on any standardized methodology and are not necessarily comparable to similar measures presented by other companies. The Company believes that these non-GAAP financial measures provide useful information to both management and investors to increase comparability to prior periods by adjusting for certain items that may not be indicative of core operating measures and to better identify trends in our business. The adjusted financial results are used by management to, and allow investors to, evaluate the operating performance of the Company compared to prior periods, when reviewed in conjunction with the Company's GAAP statements. These amounts are not determined in accordance with GAAP and therefore should not be used exclusively in evaluating the Company's business and operations.

**<u>Comparable Sales Performance Metric</u>**

We consider the percent change in comparable sales from the same previous year period, a primary metric commonly used throughout the retail industry, to be an important measurement for management and investors of the performance of our direct-to-consumer businesses. We include in our comparable sales metric sales from stores in operation for at least 14 months at the beginning of the applicable year. Stores are added to the comparable base at the beginning of the year and are dropped for comparative purposes in the quarter in which they are closed. Comparable sales include the e-commerce sales of the Retail segment. Comparable sales in Canada exclude the impact of foreign currency translation and are calculated by translating current period results at the foreign currency exchange rate used in the comparable period of the prior year. Comparable sales include the e-commerce net sales of the Brand Portfolio segment from the direct-to-consumer e-commerce sites. The calculation of comparable sales varies across the retail industry and, as a result, the calculations of other retail companies may not be consistent with our calculation.

CONTACT: Stacy Turnof, DesignerBrandsIR@edelman.com

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