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."

First Quarter Operating Results (Unless otherwise stated, all comparisons are to the first quarter of 2025)
•Net sales increased 1.4% to $696.4 million.
•Total comparable sales decreased by 1.1%.
•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.
•Reported net income attributable to Designer Brands Inc. was $1.2 million, or diluted EPS of $0.02.
•Adjusted net income was $3.8 million, or adjusted diluted EPS of $0.07.



Liquidity
•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.
•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.

Store Count
(square footage in thousands)May 2, 2026May 3, 2025
Number of StoresSquare FootageNumber of StoresSquare Footage
DSW stores518 10,150 520 10,237 
The Shoe Co. stores118 599 121 620 
Rubino stores27 140 28 149 
Total number of stores663 10,889 669 11,006 


2026 Financial Outlook
The Company is reaffirming the following guidance for the full year 2026:
Metric
 2026 Guidance
Designer Brands Change in Net SalesDown 1% to Up 1%
Diluted Earnings per Share$0.28 - $0.38

Webcast and Conference Call
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:


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.

About Designer Brands
Designer Brands is one of the world's largest designers, producers, and retailers of the most recognizable footwear brands and accessories, transforming and defining the footwear industry through a mission of being shoe obsessed. With a diversified, world-class portfolio of coveted brands, including Topo Athletic, Keds, Vince Camuto, Kelly & Katie, Jessica Simpson, Lucky Brand, Mix No. 6, Crown Vintage and others, Designer Brands designs and produces on-trend footwear and accessories for all of life's occasions delivered to the consumer through a robust direct-to-consumer omni-channel infrastructure and powerful national wholesale distribution. Powered by a billion-dollar digital commerce business across multiple domains and over 660 DSW Designer Shoe Warehouse, The Shoe Co., and Rubino stores in North America, Designer Brands delivers current, in-line footwear and accessories from the largest national brands in the industry and holds leading market share positions in key product categories across women's, men's, and kids'. Designer Brands also distributes its brands internationally through select wholesale and distributor relationships while also leveraging design and sourcing expertise to build private label products for national retailers. Designer Brands is committed to being a difference maker in the world and the footwear industry. By leading with our corporate values of We Belong and We Do What's Right, Designer Brands supports the global community and the health of the planet by donating more than thirteen million pairs of shoes to the global non-profit Soles4Souls since 2018. To learn more, visit www.designerbrands.com.



Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
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)

Net Sales
Three months ended
(dollars in thousands)May 2, 2026May 3, 2025Change
Amount% of Segment Net SalesAmount% of Segment Net SalesAmount%
Segment net sales:
Retail$626,684 84.5 %$627,145 86.7 %$(461)(0.1)%
Brand Portfolio
114,518 15.5 95,898 13.3 18,620 19.4 %
Total segment net sales741,202 100.0 %723,043 100.0 %18,159 2.5 %
Elimination of intersegment net sales(44,852)(36,134)(8,718)24.1 %
Consolidated net sales$696,350 $686,909 $9,441 1.4 %

Comparable Sales
Three months ended
May 2, 2026May 3, 2025
Change in comparable sales:
Retail segment(1.2)%(7.5)%
Brand Portfolio segment - direct-to-consumer channel3.0 %(27.0)%
Total(1.1)%(7.8)%


Gross Profit
Three months ended
(dollars in thousands)May 2, 2026May 3, 2025Change
Amount% of Segment Net SalesAmount% of Segment Net SalesAmount%Basis Points
Segment gross profit:
Retail$284,296 45.4 %$268,200 42.8 %$16,096 6.0 %260
Brand Portfolio38,877 33.9 %26,026 27.1 %12,851 49.4 %680
Total segment gross profit323,173 43.6 %294,226 40.7 %28,947 9.8 %290
Net recognition (elimination) of intersegment gross profit(7,855)255 (8,110)
Consolidated gross profit$315,318 45.3 %$294,481 42.9 %$20,837 7.1 %240



Intersegment Recognition and Elimination Activity
Three months ended
(in thousands)May 2, 2026May 3, 2025
Intersegment recognition and elimination activity:
Elimination of net sales recognized by Brand Portfolio segment$(44,852)$(36,134)
Cost of sales:
Elimination of cost of sales recognized by Brand Portfolio segment28,003 25,814 
Recognition of intersegment gross profit for inventory previously purchased that was subsequently sold to external customers during the current period8,994 10,575 
$(7,855)$255 

Operating Profit
Three months ended
(dollars in thousands)
May 2, 2026May 3, 2025Change
Amount% of Segment Net SalesAmount% of Segment Net SalesAmount%Basis Points
Segment operating profit:
Retail$51,278 8.2 %$39,973 6.4 %$11,305 28.3 %180 
Brand Portfolio15,423 13.5 %1,946 2.0 %13,477 692.5 %1,150 
Total segment operating profit66,701 9.0 %41,919 5.8 %24,782 59.1 %320 
Corporate/eliminations(47,831)(49,826)1,995 (4.0)%
Consolidated operating profit (loss) $18,870 2.7 %$(7,907)(1.2)%$26,777 NMNM



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.
(in thousands, except per share amounts, unaudited)Three months ended May 3, 2025
Previously Reported% of Net SalesAdjustmentsAs Adjusted% of Net Sales
Consolidated:
Net sales$686,909 100.0 %$— $686,909 100.0 %
Cost of sales(391,783)(57.0)(645)(392,428)(57.1)
Gross profit$295,126 43.0 %$(645)$294,481 42.9 %
Operating loss$(7,262)(1.1)%$(645)$(7,907)(1.2)%
Net loss attributable to Designer Brands Inc.$(17,424)$(392)$(17,816)
Diluted loss per share$(0.36)$(0.01)$(0.37)
Brand Portfolio segment:
Net sales$95,898 100.0 %$— $95,898 100.0 %
Cost of sales(69,227)(72.2)(645)(69,872)(72.9)
Gross profit$26,671 27.8 %$(645)$26,026 27.1 %
Operating profit$2,591 2.7 %$(645)$1,946 2.0 %

(in thousands, except per share amounts, unaudited)Three months ended August 2, 2025Six months ended August 2, 2025
Previously Reported% of Net SalesAdjustmentsAs Adjusted% of Net SalesPreviously Reported% of Net SalesAdjustmentsAs Adjusted% of Net Sales
Consolidated:
Net sales$739,762 100.0 %$— $739,762 100.0 %$1,426,671 100.0 %$— $1,426,671 100.0 %
Cost of sales(416,829)(56.3)(440)(417,269)(56.4)(808,612)(56.7)(1,085)(809,697)(56.8)
Gross profit$322,933 43.7 %$(440)$322,493 43.6 %$618,059 43.3 %$(1,085)$616,974 43.2 %
Operating income$26,583 3.6 %$(440)$26,143 3.5 %$19,321 1.4 %$(1,085)$18,236 1.3 %
Net income (loss) attributable to Designer Brands Inc.$10,827 $(292)$10,535 $(6,597)$(684)$(7,281)
Diluted earnings (loss) per share$0.22 $(0.01)$0.21 $(0.14)$(0.01)$(0.15)
Brand Portfolio segment:
Net sales$73,157 100.0 %$— $73,157 100.0 %$169,055 100.0 %$— $169,055 100.0 %
Cost of sales(54,649)(74.7)(440)(55,089)(75.3)(123,876)(73.3)(1,085)(124,961)(73.9)
Gross profit$18,508 25.3 %$(440)$18,068 24.7 %$45,179 26.7 %$(1,085)$44,094 26.1 %
Operating loss$(3,606)(4.9)%$(440)$(4,046)(5.5)%$(1,015)(0.6)%$(1,085)$(2,100)(1.2)%



(in thousands, except per share amounts, unaudited)Three months ended November 1, 2025Nine months ended November 1, 2025
Previously Reported% of Net SalesAdjustmentsAs Adjusted% of Net SalesPreviously Reported% of Net SalesAdjustmentsAs Adjusted% of Net Sales
Consolidated:
Net sales$752,411 100.0 %$— $752,411 100.0 %$2,179,082 100.0 %$— $2,179,082 100.0 %
Cost of sales(412,792)(54.9)(359)(413,151)(54.9)(1,221,404)(56.1)(1,444)(1,222,848)(56.1)
Gross profit$339,619 45.1 %$(359)$339,260 45.1 %$957,678 43.9 %$(1,444)$956,234 43.9 %
Operating income$42,663 5.7 %$(359)$42,304 5.6 %$61,984 2.8 %$(1,444)$60,540 2.8 %
Net income attributable to Designer Brands Inc.$18,215 $991 $19,206 $11,618 $307 $11,925 
Diluted earnings per share$0.35 $0.02 $0.37 $0.23 $0.01 $0.24 
Brand Portfolio segment:
Net sales$101,923 100.0 %$— $101,923 100.0 %$270,978 100.0 %$— $270,978 100.0 %
Cost of sales(72,955)(71.6)(359)(73,314)(71.9)(196,831)(72.6)(1,444)(198,275)(73.2)
Gross profit$28,968 28.4 %$(359)$28,609 28.1 %$74,147 27.4 %$(1,444)$72,703 26.8 %
Operating income$8,256 8.1 %$(359)$7,897 7.7 %$7,241 2.7 %$(1,444)$5,797 2.1 %

(in thousands, except per share amounts, unaudited)Three months ended January 31, 2026Twelve months ended January 31, 2026
Previously Reported% of Net SalesAdjustmentsAs Adjusted% of Net SalesPreviously Reported% of Net SalesAdjustmentsAs Adjusted% of Net Sales
Consolidated:
Net sales$713,589 100.0 %$— $713,589 100.0 %$2,892,671 100.0 %$— $2,892,671 100.0 %
Cost of sales(410,877)(57.6)(630)(411,507)(57.7)(1,632,281)(56.4)(2,074)(1,634,355)(56.5)
Gross profit$302,712 42.4 %$(630)$302,082 42.3 %$1,260,390 43.6 %$(2,074)$1,258,316 43.5 %
Operating income (loss)$(14,220)(2.0)%$(630)$(14,850)(2.1)%$47,764 1.7 %$(2,074)$45,690 1.6 %
Net loss attributable to Designer Brands Inc.$(19,992)$273 $(19,719)$(8,374)$580 $(7,794)
Diluted loss per share$(0.40)$— $(0.40)$(0.17)$0.01 $(0.16)
Brand Portfolio segment:
Net sales$91,883 100.0 %$— $91,883 100.0 %$362,861 100.0 %$— $362,861 100.0 %
Cost of sales(63,239)(68.8)(630)(63,869)(69.5)(260,070)(71.7)(2,074)(262,144)(72.2)
Gross profit$28,644 31.2 %$(630)$28,014 30.5 %$102,791 28.3 %$(2,074)$100,717 27.8 %
Operating income$3,667 4.0 %$(630)$3,037 3.3 %$10,908 3.0 %$(2,074)$8,834 2.4 %


DESIGNER BRANDS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited and in thousands, except per share amounts)

Three months ended
May 2, 2026May 3, 2025
Net sales$696,350 $686,909 
Cost of sales(381,032)(392,428)
Gross profit315,318 294,481 
Operating expenses(299,209)(301,862)
Income from equity investments2,761 2,427 
Impairment charges— (2,953)
Operating profit (loss)18,870 (7,907)
Interest expense, net(10,125)(11,971)
Non-operating income (expenses), net(5)8 
Income (loss) before income taxes and loss from equity investment8,740 (19,870)
Income tax benefit (provision)(4,805)2,189 
Loss from equity investment(481)— 
Net income (loss)3,454 (17,681)
Net income attributable to redeemable noncontrolling interest(2,295)(135)
Net income (loss) attributable to Designer Brands Inc.$1,159 $(17,816)
Diluted earnings (loss) per share attributable to Designer Brands Inc.$0.02 $(0.37)
Weighted average diluted shares 55,920 48,243 



DESIGNER BRANDS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited and in thousands)

May 2, 2026January 31, 2026May 3, 2025
ASSETS
Current assets:
Cash and cash equivalents$50,104 $50,871 $46,025 
Receivables, net77,725 61,716 57,941 
Inventories586,635 563,547 623,584 
Prepaid expenses and other current assets49,703 34,286 47,975 
Total current assets764,167 710,420 775,525 
Property and equipment, net209,164 213,291 230,559 
Operating lease assets673,681 675,648 719,749 
Goodwill130,830 130,837 130,714 
Intangible assets, net80,734 81,242 85,062 
Deferred tax assets34,693 35,882 50,801 
Equity investments56,733 56,260 54,862 
Other assets48,194 46,325 46,046 
Total assets$1,998,196 $1,949,905 $2,093,318 
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable$236,278 $236,195 $261,787 
Accrued expenses202,398 178,430 187,808 
Current maturities of long-term debt6,750 6,750 6,750 
Current operating lease liabilities158,034 175,515 158,171 
Total current liabilities603,460 596,890 614,516 
Long-term debt468,521 428,206 516,192 
Non-current operating lease liabilities593,156 596,587 650,438 
Other non-current liabilities48,562 46,606 46,478 
Total liabilities1,713,699 1,668,289 1,827,624 
Redeemable noncontrolling interest3,571 1,616 2,212 
Total shareholders' equity280,926 280,000 263,482 
Total liabilities, redeemable noncontrolling interest, and shareholders' equity$1,998,196 $1,949,905 $2,093,318 



DESIGNER BRANDS INC.
NON-GAAP RECONCILIATION
(unaudited and in thousands, except per share amounts)

Three months ended
May 2, 2026May 3, 2025
Operating expenses$(299,209)$(301,862)
Non-GAAP adjustments-
Restructuring and integration costs508 3,875 
Total non-GAAP adjustments508 3,875 
Adjusted operating expenses$(298,701)$(297,987)
Operating profit (loss)$18,870 $(7,907)
Non-GAAP adjustments:
Restructuring and integration costs508 3,875 
Impairment charges— 2,953 
Total non-GAAP adjustments508 6,828 
Adjusted operating profit (loss)$19,378 $(1,079)
Net income (loss) attributable to Designer Brands Inc.$1,159 $(17,816)
Non-GAAP adjustments:
Restructuring and integration costs508 3,875 
Impairment charges
— 2,953 
Interest expense on under-reported import duties159 103 
Foreign currency transaction losses (gains)5 (8)
Total non-GAAP adjustments before tax effect672 6,923 
Tax effect of adjustments and changes in valuation allowance(320)(2,192)
Total non-GAAP adjustments, after tax352 4,731 
Net income attributable to redeemable noncontrolling interest2,295 135 
Adjusted net income (loss)$3,806 $(12,950)
Diluted earnings (loss) per share$0.02 $(0.37)
Adjusted diluted earnings (loss) per share$0.07 $(0.27)

Non-GAAP Measures
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


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.

Comparable Sales Performance Metric
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