# EDGAR Filing Document

**Accession Number:** 0001589943
**File Stem:** 0000921895-26-001602
**Filing Date:** 2026-6
**Character Count:** 16265
**Document Hash:** 22ac011a4a607e3941b95cf86d486e94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-26-001602.hdr.sgml**: 20260611

**ACCESSION NUMBER**: 0000921895-26-001602

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260611

**DATE AS OF CHANGE**: 20260611

**SUBJECT COMPANY**: 

**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:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-80829
- **FILM NUMBER:** 261083223

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stone House Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001589943

**ORGANIZATION NAME:**
- **EIN:** 271718948
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 1019 KANE CONCOURSE
- **STREET 2:** SUITE 202
- **CITY:** BAY HARBOR ISLANDS
- **STATE:** FL
- **ZIP:** 33154
- **BUSINESS PHONE:** (212) 543-1500

**MAIL ADDRESS:**
- **STREET 1:** 1019 KANE CONCOURSE
- **STREET 2:** SUITE 202
- **CITY:** BAY HARBOR ISLANDS
- **STATE:** FL
- **ZIP:** 33154

## Exhibit 99.1

Exhibit 99.1

**<u>JOINT FILING AGREEMENT</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the Class A Common Shares, without par value, of Designer Brands Inc., an Ohio corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

---

| | |
|:---|:---|
| STONE HOUSE CAPITAL MANAGEMENT, LLC | STONE HOUSE CAPITAL MANAGEMENT, LLC |
| By: | /s/ Mark Cohen |
|  | Managing Member |
| Date: | 06/11/2026 |

---

---

| | |
|:---|:---|
| SH CAPITAL PARTNERS, L.P. | SH CAPITAL PARTNERS, L.P. |
| By: | /s/ Mark Cohen |
|  | Managing Member of the General Partner |
| Date: | 06/11/2026 |

---

---

| | |
|:---|:---|
| COHEN MARK A. | COHEN MARK A. |
| By: | /s/ Mark Cohen |
|  | Mark Cohen |
| Date: | 06/11/2026 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Designer Brands Inc.**

*(Name of Issuer)*

**Class A Common Shares, without par value**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**MARK COHEN**<br>STONE HOUSE CAPITAL MANAGEMENT, LLC<br>1019 Kane Concourse, Suite 202<br>Bay Harbor Islands FL 33154<br>212-543-1500

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/11/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**STONE HOUSE CAPITAL MANAGEMENT, LLC** | Name of reporting person<br>**STONE HOUSE CAPITAL MANAGEMENT, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**7000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**7000000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7000000.00** | Aggregate amount beneficially owned by each reporting person<br>**7000000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.3%** | Percent of class represented by amount in Row (11)<br>**16.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**SH CAPITAL PARTNERS, L.P.** | Name of reporting person<br>**SH CAPITAL PARTNERS, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**7000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**7000000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7000000.00** | Aggregate amount beneficially owned by each reporting person<br>**7000000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.3%** | Percent of class represented by amount in Row (11)<br>**16.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Cohen Mark A.** | Name of reporting person<br>**Cohen Mark A.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**7000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**7000000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7000000.00** | Aggregate amount beneficially owned by each reporting person<br>**7000000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**16.3%** | Percent of class represented by amount in Row (11)<br>**16.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Shares, without par value

**(b) Name of Issuer:**
Designer Brands Inc.

**(c) Address of Issuer's Principal Executive Offices:**
810 DSW DRIVE, COLUMBUS, OH, 43219

This statement on Schedule 13D (this "Schedule 13D") relates to the Class A Common Shares, without par value (the "Shares") of Designer Brands Inc., an Ohio corporation (the "Issuer"). This Schedule 13D is being filed pursuant to Rule 13d-1(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in accordance with rule 13d-1(e).

**Item 4. Purpose of Transaction**

The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were substantially undervalued. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons are converting from a Schedule 13G to a Schedule 13D because they believe the Shares are significantly undervalued and intend to engage in discussions with the Issuer regarding ways the existing Board of Directors (the "Board") and management can take steps to improve operational performance and investor communications and increase shareholder value. Among other things, the Reporting Persons believe the Issuer should be providing enhanced segment-level disclosure of the Topo Athletic brand, which is one of the rare few brands that has emerged and gained relevance and scale in the specialty run channel in the last two decades.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. Depending on various factors including, without limitation, the Issuer's financial position, results and strategic direction, actions taken by the Issuer's management and Board, other investment opportunities available to the Reporting Persons, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with the Issuer's management and Board, engaging in discussions with shareholders of the Issuer or other third parties about the Issuer and the Reporting Persons' investment, making recommendations or proposals to the Issuer concerning changes to the Issuer's operations or capitalization, potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer's financial and/or operational performance, acquiring additional Shares, disposing of some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Shares reported owned by each person named herein is based upon 43,044,346 Shares outstanding as of June 2, 2026, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on June 9, 2026.

As of the date hereof, Partners directly beneficially owned 7,000,000 Shares, including 1,500,000 Shares underlying the Options that are currently exercisable, constituting approximately 16.3% of the Shares outstanding.

Stone House, as the general partner and investment adviser of general partner and investment manager of Partners, may be deemed the beneficial owner of the 7,000,000 Shares owned by Partners, constituting approximately 16.3% of the Shares outstanding.

Mr. Cohen, as the managing member of Stone House, may be deemed the beneficial owner of the 7,000,000 Shares beneficially owned by Stone House, constituting approximately 16.3% of the Shares outstanding.

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

**(b)**
Each of Partners, Stone House and Mr. Cohen may be deemed to share the power to vote and dispose of the Shares beneficially owned by Partners.

**(c)**
The Reporting Persons have not entered into any transactions in the securities of the Issuer during the past sixty days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Partners has purchased the Options referencing an aggregate of 1,500,000 Shares, which have an exercise price of $10 per Share and an expiration date of January 15, 2027.

On June 11, 2026, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** STONE HOUSE CAPITAL MANAGEMENT, LLC

**Signature:** /s/ Mark Cohen

**Name/Title:** Managing Member

**Date:** 06/11/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** SH CAPITAL PARTNERS, L.P.

**Signature:** /s/ Mark Cohen

**Name/Title:** Managing Member of the General Partner

**Date:** 06/11/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Cohen Mark A.

**Signature:** /s/ Mark Cohen

**Name/Title:** Mark Cohen

**Date:** 06/11/2026