Return to Positive Comps
For the first time in nine quarters, Designer Brands Inc. returned to positive comps in the fourth quarter of fiscal 2024, with comps up 1% excluding the 53rd week.
Strong Performance in Brand Portfolio Segment
Sales in the Brand Portfolio segment were up approximately 12% for the fourth quarter and roughly 14% for the full year. The segment achieved operating profitability for the first time.
Expansion of Gross Margins
Gross margins expanded by 100 basis points in the Brand Portfolio segment, contributing to a significant improvement in operating margin.
Growth in Key Brands
Topo Athletic and Jessica Simpson brands outperformed expectations throughout the year, with Topo up nearly 80% and Jessica up over 20% in wholesale sales.
DSW Market Share Gain
DSW sales growth outpaced the footwear market, resulting in a 10 basis point gain in footwear market share versus last year.
Return of Cash to Shareholders
Designer Brands returned $79 million to shareholders through dividends and share repurchases in fiscal 2024.