Form 8-K

8-K — Designer Brands Inc.

Accession: 0001319947-26-000048

Filed: 2026-09-10

Period: 2026-09-09

CIK: 0001319947

SIC: 5661 (RETAIL-SHOE STORES)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — dbi-20260909.htm (Primary)

EX-99.1 (q220268-kex991pressrelease.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: dbi-20260909.htm · Sequence: 1

dbi-20260909

0001319947false00013199472026-09-102026-09-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 9, 2026

Designer Brands Inc.

(Exact name of registrant as specified in its charter)

Ohio 001-32545 31-0746639

(State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

810 DSW Drive, Columbus, Ohio

43219

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (614) 237-7100

N/A

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A Common Shares, without par value DBI New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange

Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On September 10, 2026, Designer Brands Inc. (the "Company") issued a press release announcing its consolidated financial results for the quarter ended August 1, 2026. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section. Furthermore, the information in this Item 2.02 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.

Item 8.01 Other Events.

On September 9, 2026, the Board approved a quarterly cash dividend of $0.05 per share of the Company’s Class A and Class B common shares. The dividend will be paid on October 7, 2026 to shareholders of record as of the close of business on September 24, 2026. As it is customary, details regarding the record and payment dates for any future quarterly dividends will be announced at the time such dividends are declared by the Board.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description

99.1

Press Release of Designer Brands Inc., dated September 10, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Designer Brands Inc.

By: /s/ Lisa M. Yerrace

Lisa M. Yerrace

Senior Vice President, General Counsel and Corporate Secretary

Date: September 10, 2026

EX-99.1

Filename: q220268-kex991pressrelease.htm · Sequence: 2

Document

Exhibit 99.1

Designer Brands Inc. Reports Second Quarter of 2026 Financial Results

Raising full year guidance following strong operating performance and positive start to third quarter

Generated double-digit Brand Portfolio sales growth

Drove a meaningful improvement in profitability year-over-year

Reduced total debt by $93.0 million compared to the second quarter last year

COLUMBUS, Ohio, September 10, 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 second quarter ended August 1, 2026.

"Our second quarter results represent significant improvement in profitability year-over-year, highlighted by meaningful gross margin expansion as well as impressive sales growth in our Brand Portfolio segment," said Doug Howe, Chief Executive Officer. "We remain focused on generating long term value for our shareholders and are encouraged by the progress we are making against our strategic plan. These efforts have contributed to improved retail trends and a positive start to the third quarter, giving us confidence in raising our full year guidance."

Second Quarter of 2026 Operating Results (Unless otherwise stated, all comparisons are to the second quarter of 2025)

•Net sales decreased 1.2% to $730.6 million.

•Total comparable sales decreased by 2.4%.

•Reported gross profit was $365.4 million compared to $322.5 million last year, and gross margin was 50.0% compared to 43.6% last year.

•Adjusted gross profit was $350.0 million compared to $322.5 million last year, and adjusted gross margin was 47.9% compared to 43.6% last year.

•Reported net income attributable to Designer Brands Inc. was $17.6 million, or diluted earnings per share ("EPS") of $0.31.

•Adjusted net income was $19.2 million, or adjusted diluted EPS of $0.34.

Liquidity

•Cash and cash equivalents totaled $51.6 million at the end of the second quarter of 2026, compared to $44.9 million at the end of the same period last year, with $146.2 million available for borrowings under our senior secured asset-based revolving credit facility.

•Debt totaled $423.1 million at the end of the second quarter of 2026 compared to $516.3 million at the end of the same period last year, a reduction of approximately $93.0 million.

•The Company ended the second quarter of 2026 with inventories of $594.7 million compared to $610.9 million at the end of the same period last year.

Return to Shareholders

A dividend of $0.05 per share for both Class A and Class B common shares will be paid on October 7, 2026 to shareholders of record at the close of business on September 24, 2026.

Store Count

(square footage in thousands) August 1, 2026 August 2, 2025

Number of Stores Square Footage Number of Stores Square Footage

DSW stores 523 10,225 519 10,197

The Shoe Co. stores 118 598 121 618

Rubino stores 27 141 28 147

Total number of stores 668 10,964 668 10,962

During the six months ended August 1, 2026, the Company opened 7 new stores, closed 4 stores, and remodeled 3 stores.

2026 Financial Outlook

Following a strong start to the third quarter, the Company is raising its guidance for the full year 2026:

Metric Previous Guidance

Revised Guidance

Designer Brands Change in Net Sales Down 1% to Up 1% Flat to Up 1%

Adjusted Diluted Earnings per Share $0.28 - $0.38 $0.47 - $0.52

To supplement amounts presented in our consolidated financial statements determined in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company uses certain non-GAAP financial measures. Forward-looking adjusted diluted earnings per share excludes potential charges or gains that may be recorded during the fiscal year, including, among other things, tariff recoveries recorded to cost of sales and interest on tariff recoveries recorded to non-operating income used to pay interest expense to an unrelated financial investor (the "Investor"); interest expense on the financing transaction with the Investor and under-reported import duties; restructuring costs, including severance charges; impairment charges; foreign currency transaction gains or losses; net income or loss attributable to redeemable noncontrolling interest; and the net tax impact of such items and the potential change in the valuation allowance on deferred tax assets. A reconciliation of this forward-looking non-GAAP amount to the comparable GAAP measure is not provided, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K, because the impact and timing of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the Company believes that such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items are uncertain and could have a substantial impact on GAAP measures of our financial performance. For additional information regarding the use of non-GAAP measures, refer to the Non-GAAP Measures section below.

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 1127904 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/916wJ9QJZvG

For those unable to listen to the live webcast, an archived version will be available on the Company's investor website until September 24, 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: 5663074

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. Forward-looking statements in this press release include, but are not limited to, statements regarding our business and strategy and our current expectations about the Company's future operating results and financial condition, including our financial guidance for 2026. 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, geopolitical instability and conflicts, social unrest, 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

(amounts in thousands) August 1, 2026 August 2, 2025 Change

Amount % of Segment Net Sales Amount % of Segment Net Sales Amount %

Segment net sales:

Retail $ 671,062 88.6 % $ 686,003 90.4 % $ (14,941) (2.2) %

Brand Portfolio

86,279 11.4 73,157 9.6 13,122 17.9 %

Total segment net sales 757,341 100.0 % 759,160 100.0 % (1,819) (0.2) %

Elimination of intersegment net sales (26,710) (19,398) (7,312) 37.7 %

Consolidated net sales $ 730,631 $ 739,762 $ (9,131) (1.2) %

Six months ended

(amounts in thousands) August 1, 2026 August 2, 2025 Change

Amount % of Segment Net Sales Amount % of Segment Net Sales Amount %

Segment net sales:

Retail $ 1,297,746 86.6 % $ 1,313,148 88.6 % $ (15,402) (1.2) %

Brand Portfolio

200,797 13.4 169,055 11.4 31,742 18.8 %

Total segment net sales 1,498,543 100.0 % 1,482,203 100.0 % 16,340 1.1 %

Elimination of intersegment net sales (71,562) (55,532) (16,030) 28.9 %

Consolidated net sales $ 1,426,981 $ 1,426,671 $ 310 — %

Comparable Sales

Three months ended Six months ended

August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Change in comparable sales:

Retail segment (2.6) % (4.5) % (1.9) % (6.0) %

Brand Portfolio segment - direct-to-consumer channel 7.1 % (29.2) % 5.0 % (28.1) %

Total (2.4) % (5.0) % (1.8) % (6.4) %

Gross Profit

Three months ended

(amounts in thousands) August 1, 2026 August 2, 2025 Change

Amount % of Segment Net Sales Amount % of Segment Net Sales Amount % Basis Points

Segment gross profit:

Retail $ 301,469 44.9 % $ 299,472 43.7 % $ 1,997 0.7 % 120

Brand Portfolio 25,693 29.8 % 18,068 24.7 % 7,625 42.2 % 510

Total segment gross profit 327,162 43.2 % 317,540 41.8 % 9,622 3.0 % 140

Corporate/eliminations:

Net recognition of intersegment gross profit 2,657 4,953 (2,296)

Recoveries related to IEEPA tariff costs incurred 35,536 — 35,536

Consolidated gross profit $ 365,355 50.0 % $ 322,493 43.6 % $ 42,862 13.3 % 640

Six months ended

(amounts in thousands) August 1, 2026 August 2, 2025 Change

Amount % of Segment Net Sales Amount % of Segment Net Sales Amount % Basis Points

Segment gross profit:

Retail $ 585,765 45.1 % $ 567,672 43.2 % $ 18,093 3.2 % 190

Brand Portfolio 64,570 32.2 % 44,094 26.1 % 20,476 46.4 % 610

Total segment gross profit 650,335 43.4 % 611,766 41.3 % 38,569 6.3 % 210

Corporate/eliminations:

Net recognition (elimination) of intersegment gross profit (5,198) 5,208 (10,406)

Recoveries related to IEEPA tariff costs incurred 35,536 — 35,536

Consolidated gross profit $ 680,673 47.7 % $ 616,974 43.2 % $ 63,699 10.3 % 450

Intersegment Recognition and Elimination Activity

Three months ended Six months ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Intersegment recognition and elimination activity:

Elimination of net sales recognized by Brand Portfolio segment $ (26,710) $ (19,398) $ (71,562) $ (55,532)

Cost of sales:

Elimination of cost of sales recognized by Brand Portfolio segment 18,716 13,785 46,719 39,599

Recognition of intersegment gross profit for inventory previously purchased that was subsequently sold to external customers during the current period 10,651 10,566 19,645 21,141

$ 2,657 $ 4,953 $ (5,198) $ 5,208

Operating Profit

Three months ended

(amounts in thousands) August 1, 2026 August 2, 2025 Change

Amount % of Segment Net Sales Amount % of Segment Net Sales Amount % Basis Points

Segment operating profit (loss):

Retail $ 62,027 9.2 % $ 68,709 10.0 % $ (6,682) (9.7) % (80)

Brand Portfolio 979 1.1 % (4,046) (5.5) % 5,025 NM NM

Total segment operating profit 63,006 8.3 % 64,663 8.5 % (1,657) (2.6) % (20)

Corporate/eliminations (8,283) (38,520) 30,237 (78.5) %

Consolidated operating profit $ 54,723 7.5 % $ 26,143 3.5 % $ 28,580 109.3 % 400

Six months ended

(amounts in thousands) August 1, 2026 August 2, 2025 Change

Amount % of Segment Net Sales Amount % of Segment Net Sales Amount % Basis Points

Segment operating profit (loss):

Retail $ 113,305 8.7 % $ 108,682 8.3 % $ 4,623 4.3 % 40

Brand Portfolio 16,402 8.2 % (2,100) (1.2) % 18,502 NM NM

Total segment operating profit 129,707 8.7 % 106,582 7.2 % 23,125 21.7 % 150

Corporate/eliminations (56,114) (88,346) 32,232 (36.5) %

Consolidated operating profit $ 73,593 5.2 % $ 18,236 1.3 % $ 55,357 303.6 % 390

NM - Not meaningful

DESIGNER BRANDS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in thousands, except per share amounts)

Three months ended Six months ended

August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Net sales $ 730,631 $ 739,762 $ 1,426,981 $ 1,426,671

Cost of sales (365,276) (417,269) (746,308) (809,697)

Gross profit 365,355 322,493 680,673 616,974

Operating expenses (313,412) (297,462) (612,621) (599,324)

Income from equity investment 2,780 2,578 5,541 5,005

Impairment charges — (1,466) — (4,419)

Operating profit 54,723 26,143 73,593 18,236

Interest expense on debt, net of interest income (9,288) (11,783) (19,413) (23,754)

Interest expense on tariff sale financing transaction (16,097) — (16,097) —

Non-operating income (expenses), net 1,244 (78) 1,239 (70)

Income (loss) before income taxes and loss from equity investment 30,582 14,282 39,322 (5,588)

Income tax provision (10,031) (3,408) (14,836) (1,219)

Loss from equity investment (134) — (615) —

Net income (loss) 20,417 10,874 23,871 (6,807)

Net income attributable to redeemable noncontrolling interest (2,860) (339) (5,155) (474)

Net income (loss) attributable to Designer Brands Inc. $ 17,557 $ 10,535 $ 18,716 $ (7,281)

Diluted earnings (loss) per share attributable to Designer Brands Inc. $ 0.31 $ 0.21 $ 0.34 $ (0.15)

Weighted average diluted shares 55,974 49,734 55,757 48,678

DESIGNER BRANDS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited and in thousands)

August 1, 2026 January 31, 2026 August 2, 2025

ASSETS

Current assets:

Cash and cash equivalents $ 51,591 $ 50,871 $ 44,937

Receivables, net 80,397 61,716 57,607

Inventories 594,688 563,547 610,876

Prepaid expenses and other current assets 36,252 34,286 40,437

Total current assets 762,928 710,420 753,857

Property and equipment, net 208,965 213,291 227,141

Operating lease assets 694,367 675,648 716,685

Goodwill 130,601 130,837 130,716

Intangible assets, net 79,614 81,242 81,881

Deferred tax assets 30,018 35,882 45,067

Equity investments 55,153 56,260 59,446

Other assets 46,496 46,325 48,870

Total assets $ 2,008,142 $ 1,949,905 $ 2,063,663

LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 256,081 $ 236,195 $ 239,200

Accrued expenses 192,213 178,430 177,491

Current maturities of long-term debt 6,750 6,750 6,750

Current operating lease liabilities 172,454 175,515 157,212

Total current liabilities 627,498 596,890 580,653

Long-term debt 416,309 428,206 509,593

Non-current operating lease liabilities 613,503 596,587 646,431

Other non-current liabilities 43,482 46,606 48,201

Total liabilities 1,700,792 1,668,289 1,784,878

Redeemable noncontrolling interest 6,232 1,616 1,738

Total shareholders' equity 301,118 280,000 277,047

Total liabilities, redeemable noncontrolling interest, and shareholders' equity $ 2,008,142 $ 1,949,905 $ 2,063,663

DESIGNER BRANDS INC.

NON-GAAP RECONCILIATIONS

(unaudited)

Reconciliation of Gross Profit and Gross Margin to Adjusted Gross Profit and Adjusted Gross Margin

Three months ended Six months ended

(amounts in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Gross profit $ 365,355 $ 322,493 $ 680,673 $ 616,974

Gross margin 50.0 % 43.6 % 47.7 % 43.2 %

Non-GAAP adjustments-

Tariff recoveries recorded to cost of sales used to pay the Investor for interest expense (15,336) — (15,336) —

Adjusted gross profit $ 350,019 $ 322,493 $ 665,337 $ 616,974

Adjusted gross margin 47.9 % 43.6 % 46.6 % 43.2 %

Reconciliation of Operating Expenses to Adjusted Operating Expenses

Three months ended Six months ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Operating expenses $ (313,412) $ (297,462) $ (612,621) $ (599,324)

Operating expenses as a % of net sales 42.9 % 40.2 % 42.9 % 42.0 %

Non-GAAP adjustments-

Restructuring and integration costs — 2,212 508 6,087

Adjusted operating expenses $ (313,412) $ (295,250) $ (612,113) $ (593,237)

Adjusted operating expenses as a % of net sales 42.9 % 39.9 % 42.9 % 41.6 %

Reconciliation of Operating Profit to Adjusted Operating Profit

Three months ended Six months ended

(in thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Operating profit $ 54,723 $ 26,143 $ 73,593 $ 18,236

Operating profit as a % of net sales 7.5 % 3.5 % 5.2 % 1.3 %

Non-GAAP adjustments:

Tariff recoveries recorded to cost of sales used to pay the Investor for interest expense (15,336) — (15,336) —

Restructuring and integration costs — 2,212 508 6,087

Impairment charges — 1,466 — 4,419

Adjusted operating profit $ 39,387 $ 29,821 $ 58,765 $ 28,742

Adjusted operating profit as a % of net sales 5.4 % 4.0 % 4.1 % 2.0 %

Reconciliation of Net Income (Loss) Attributable to Designer Brands Inc. and Diluted Earnings (Loss) Per Share Attributable to Designer Brands Inc. to Adjusted Net Income and Adjusted Diluted Earnings Per Share

Three months ended Six months ended

(in thousands, except per share amounts) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025

Net income (loss) attributable to Designer Brands Inc. $ 17,557 $ 10,535 $ 18,716 $ (7,281)

Diluted earnings (loss) per share attributable to Designer Brands Inc. $ 0.31 $ 0.21 $ 0.34 $ (0.15)

Non-GAAP adjustments:

Tariff recoveries recorded to cost of sales used to pay the Investor for interest expense (15,336) — (15,336) —

Restructuring and integration costs — 2,212 508 6,087

Interest on tariff recoveries recorded to non-operating income and used to pay the Investor for interest expense (761) — (761) —

Impairment charges

— 1,466 — 4,419

Interest expense on tariff sale financing transaction and under-reported import duties 16,097 116 16,256 219

Foreign currency transaction losses 6 78 11 70

Net income attributable to redeemable noncontrolling interest 2,860 339 5,155 474

Tax effect of adjustments and changes in valuation allowance (1,195) 1,679 (1,515) (513)

Adjusted net income $ 19,228 $ 16,425 $ 23,034 $ 3,475

Adjusted diluted earnings per share $ 0.34 $ 0.33 $ 0.41 $ 0.07

Non-GAAP Measures

Non-GAAP financial measures used by the Company includes adjusted gross profit and adjusted gross margin, adjusted operating expenses, adjusted operating profit, adjusted net income, and adjusted diluted earnings per share as shown in the table above. During the second quarter of 2026, we remitted interest payments recognized as interest expense to an Investor that previously purchased certain refund claims that we received. Tariff recoveries recorded to cost of sales and interest on tariff recoveries recorded to non-operating income used to pay the Investor for interest expense related to the tariff sale financing transaction with the Investor were adjusted from our GAAP results as shown in the table above. The non-GAAP measures presented in the table above adjust for the effects of: (1) Tariff recoveries recorded to cost of sales used to pay the Investor for interest expense; (2) restructuring and integration costs, including severance charges; (3) interest on tariff recoveries recorded to non-operating income and used to pay the Investor for interest expense; (4) impairment charges; (5) interest expense on the tariff sale financing transaction with the Investor and under-reported import duties; (6) foreign currency transaction losses; (7) net income attributable to redeemable noncontrolling interest; and (8) the net tax impact of such items and changes in

the valuation allowance on deferred tax assets. 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 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 net sales from 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

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