While comparable sales fell by 2.5 per cent, Designer Brands’ first-quarter net sales improved by 0.6 per cent to US $ 746.6 million. The company reiterated its forecast for the entire year, stating that low-single-digit net sales growth is anticipated.

“This quarter, we were pleased to deliver results in line with our expectations for this quarter, as we gained traction on our path to returning Designer Brands to growth. We believe that we are on solid footing as we enter the summer months and are pleased to reaffirm our guidance for 2024,” stated Doug Howe, the company’s chief executive officer.

Comparing the same quarter last year to this one, the gross profit climbed to US $ 245.1 million and the gross margin to 32.8 per cent. The adjusted net income for the company was US $ 4.8 million, compared to the reported net income of US $ 0.8 million.

Designer Brands opened one store in the US during the first quarter of 2024. In Canada, it purchased 28 Rubino stores, opened five stores, and closed one store. With this, Designer Brands now has 500 stores total—175 in the US and 500 in Canada.