---
schema_version: "secwatch.filing_event.v1"
accession: "0001319947-23-000030"
form_type: "8-K"
ticker: "DBI"
cik: "0001319947"
company_name: "Designer Brands Inc."
filed_at: "2023-06-08T23:59:59+00:00"
generated_at: "2026-06-14T04:46:02.094439+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Designer Brands Q1 net sales $742.1M (-10.7% YoY); cuts FY EPS guidance to $1.20-$1.50

## Summary
- Net sales $742.1M, down 10.7% YoY; comparable sales down 10.4%; gross margin 32.0% vs 33.2%.
- Reported diluted EPS $0.17; adjusted diluted EPS $0.21.
- Owned brand penetration rose to 26.7%; acquisitions of Keds, Le Tigre, Topo Athletic noted.
- FY2023 guidance cut: net sales growth (ex-Keds) from down mid-single to down mid/high-single digits; EPS $1.20-$1.50 from $1.65-$1.75.
- Announces $100M modified Dutch tender offer for share buyback, funded by $135M new term loan.

## SEC filing metadata
- accession: 0001319947-23-000030
- form_type: 8-K
- ticker: DBI
- cik: 0001319947
- company_name: Designer Brands Inc.
- filed_at: 2023-06-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1319947/000131994723000030/0001319947-23-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1319947/000131994723000030/dbi-20230608.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001319947-23-000030
- JSON: https://secwatch.observer/filing/0001319947-23-000030.json
- Plain text: https://secwatch.observer/filing/0001319947-23-000030.txt

## Key facts
- Earnings Releases
  Designer Brands Inc. reported three months ended April 29, 2023 results: revenue $742.1 million, net income $11.4 million, EPS $0.17. Guidance reaffirmed.
  - Period: three months ended April 29, 2023
  - Revenue: $742.1 million
  - Net income: $11.4 million
  - EPS: $0.17
  - Guidance: reaffirmed
  - Result: reported results
  source text: seeking a wide range of styles." First Quarter Operating Results (Unless otherwise stated, all comparisons are to the first quarter of 2022) • Net sales decreased 10.7% to $742.1 million. • Comparable sales decreased by 10.4% . • Gross profit decreased to $237.7 million versus $275.7 million last year, and gross margin was 32.0% compared to 33.2% for the same
  evidence_url: https://www.sec.gov/Archives/edgar/data/1319947/000131994723000030/0001319947-23-000030-index.htm
- Earnings Releases
  Designer Brands Inc. updated its full year 2023 guidance (lowered).
  - Period: full year 2023
  - Guidance: lowered
  - Result: guidance update
  source text: The Company is updating the following guidance for the full year 2023:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1319947/000131994723000030/0001319947-23-000030-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.