Designer Brands (DBI) 10-Q 2 Jun 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 30, 2022	May 27, 2022
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2022
Document Transition Report	false
Entity File Number	1-32545
Entity Registrant Name	DESIGNER BRANDS INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-0746639
Entity Address, Address Line One	810 DSW Drive,
Entity Address, City or Town	Columbus,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43219
City Area Code	614
Local Phone Number	237-7100
Title of 12(b) Security	Class A Common Shares, without par value
Trading Symbol	DBI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001319947
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Shares
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		62,620,533
Class B Common Shares
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		7,732,743

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
External customer sales	$ 830,543	$ 703,155
Gross profit	275,745	216,111
Operating expenses	(223,426)	(200,814)
Income from equity investment	1,945	1,708
Impairment charges	(1,072)	0
Operating profit	53,192	17,005
Interest expense, net	(2,952)	(8,814)
Loss on extinguishment of debt and write-off of debt issuance costs	(12,862)	0
Non-operating income, net	6	806
Income before income taxes	37,384	8,997
Income tax benefit (provision)	(11,202)	8,029
Net income	$ 26,182	$ 17,026
Basic and diluted earnings per share:
Basic earnings (loss) per share (USD per share)	$ 0.36	$ 0.23
Diluted earnings (loss) per share (USD per share)	$ 0.34	$ 0.22
Weighted average shares used in per share calculations:
Basic shares (in shares)	72,923	72,613
Diluted shares (in shares)	76,924	76,976
Product
External customer sales	$ 830,543	$ 703,155
Cost of sales	$ (554,798)	$ (487,044)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 26,182	$ 17,026
Other comprehensive income (loss), net-
Foreign currency translation gain (loss)	(81)	543
Total comprehensive income	$ 26,101	$ 17,569

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Current Assets:
Cash and cash equivalents	$ 54,802	$ 72,691	$ 49,301
Receivables, net	222,297	199,826	213,447
Inventories	672,490	586,429	540,088
Prepaid expenses and other current assets	49,836	55,270	60,461
Total current assets	999,425	914,216	863,297
Property and equipment, net	250,123	256,786	284,823
Operating lease assets	635,334	647,221	686,704
Goodwill	93,655	93,655	93,655
Intangible assets, net	20,355	15,527	16,131
Equity investment	55,118	55,578	57,012
Other assets	33,734	31,651	30,843
Total assets	2,087,744	2,014,634	2,032,465
Current Liabilities:
Accounts payable	369,147	340,877	341,819
Accrued expenses	208,282	215,812	195,237
Current maturities of long-term debt	0	0	62,500
Current operating lease liabilities	179,870	202,228	200,666
Total current liabilities	757,299	758,917	800,222
Long-term debt	306,861	225,536	274,887
Non-current operating lease liabilities	579,839	593,429	663,018
Other non-current liabilities	26,952	24,356	31,526
Total liabilities	1,670,951	1,602,238	1,769,653
Commitments and contingencies
Shareholders' equity:
Common shares paid-in capital, no par value	1,006,384	1,005,382	992,379
Treasury shares, at cost	(537,771)	(515,065)	(515,065)
Retained deficit	(48,122)	(74,304)	(211,759)
Accumulated other comprehensive loss	(3,698)	(3,617)	(2,743)
Total shareholders' equity	416,793	412,396	262,812
Total liabilities and shareholders' equity	$ 2,087,744	$ 2,014,634	$ 2,032,465

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity Statement - USD ($) shares in Thousands, $ in Thousands	Total	Class A Common Shares	Class B Common Shares	Common StockClass A Common Shares	Common StockClass B Common Shares	Treasury Shares	Treasury SharesTreasury Shares	Common Shares Paid in Capital	Retained Deficit	Accumulated Other Comprehensive Loss
Balance (in shares) at Jan. 30, 2021				64,666	7,733	22,169
Balance at Jan. 30, 2021	$ 243,017					$ (515,065)		$ 990,153	$ (228,785)	$ (3,286)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,026								17,026
Stock-based compensation activity (in shares)				468
Stock-based compensation activity	2,226							2,226
Foreign currency translation adjustment	543									543
Balance (in shares) at May. 01, 2021		65,134	7,733	65,134	7,733	22,169
Balance at May. 01, 2021	262,812					$ (515,065)		992,379	(211,759)	(2,743)
Balance (in shares) at Jan. 29, 2022		65,624	7,733	65,624	7,733	22,169
Balance at Jan. 29, 2022	412,396					$ (515,065)		1,005,382	(74,304)	(3,617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	26,182								26,182
Stock-based compensation activity (in shares)				482
Stock-based compensation activity	$ 4,594							4,594
Repurchase of Class A common shares (in shares)				(1,656)
Repurchase of Class A common shares (in shares)	1,700						1,656
Repurchase of Class A common shares	$ (22,706)					$ (22,706)
Dividends	(3,592)							(3,592)
Foreign currency translation adjustment	(81)									(81)
Balance (in shares) at Apr. 30, 2022		64,450	7,733	64,450	7,733	23,825
Balance at Apr. 30, 2022	$ 416,793					$ (537,771)		$ 1,006,384	$ (48,122)	$ (3,698)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	Apr. 04, 2022	Apr. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (USD per share)	$ 0.05	$ 0.05

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Cash flows from operating activities:
Net income	$ 26,182	$ 17,026
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	21,384	20,575
Stock-based compensation expense	8,594	7,457
Deferred income taxes	(87)	320
Income from equity investment	(1,945)	(1,708)
Distributions received from equity investment	2,405	3,294
Impairment charges	1,072	0
Loss on extinguishment of debt and write-off of debt issuance costs	12,862	0
Other	3,485	(341)
Change in operating assets and liabilities:
Accounts receivable	(21,941)	(8,160)
Income tax receivable	(548)	(9,066)
Inventories	(86,240)	(65,215)
Prepaid expenses and other current assets	4,784	(8,524)
Accounts payable	25,713	94,469
Accrued expenses	(11,406)	(5,439)
Operating lease assets and liabilities, net	(24,986)	(46,044)
Net cash used in operating activities	(40,672)	(1,356)
Cash flows from investing activities:
Cash paid for property and equipment	(12,248)	(5,641)
Other	(4,853)	0
Net cash used in investing activities	(17,101)	(5,641)
Cash flows from financing activities:
Borrowing on revolving lines of credit	757,640	250,513
Payments on revolving lines of credit	(450,779)	(245,670)
Payments for borrowings and prepayment premium under Term Loan	(238,196)	(3,125)
Payments of debt issuance costs	(2,316)	0
Cash paid for treasury shares	(22,706)	0
Other	(3,875)	(5,307)
Net cash provided by (used in) financing activities	39,768	(3,589)
Effect of exchange rate changes on cash balances	115	306
Net decrease in cash, cash equivalents and restricted cash	(17,890)	(10,280)
Cash, cash equivalents and restricted cash, beginning of period	74,459	59,581
Cash, cash equivalents and restricted cash, end of period	56,569	49,301
Supplemental disclosures of cash flow information:
Cash paid (received) for income taxes	62	(3,926)
Cash paid for interest on debt	4,097	7,042
Cash paid for operating lease liabilities	73,621	95,079
Non-cash investing and financing activities:
Property and equipment purchases not yet paid	7,069	2,875
Operating lease liabilities arising from lease asset additions	4,143	7,588
Net increase to operating lease assets and lease liabilities for modifications	$ 27,621	$ 16,760

Description of Business and Sig

Description of Business and Significant Accounting Policies	3 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Description of Business and Significant Accounting Policies	DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS Business Operations- Designer Brands Inc. ("we," "us," "our," and the "Company") is one of the world's largest designers, producers, and retailers of footwear and accessories. We operate in three reportable segments: the U.S. Retail segment, the Canada Retail segment, and the Brand Portfolio segment. The U.S. Retail segment operates the DSW Designer Shoe Warehouse ("DSW") banner through its direct-to-consumer U.S. stores and e-commerce site. The Canada Retail segment operates The Shoe Company and DSW banners through its direct-to-consumer Canada stores and e-commerce sites. The Brand Portfolio segment earns revenue from the sale of wholesale products to retailers, commissions for serving retailers as the design and buying agent for products under private labels (which we refer to as "First Cost"), and the sale of branded products through the direct-to-consumer e-commerce site at www.vincecamuto.com. An integral part of the Brand Portfolio segment is our equity investment in ABG-Camuto, LLC ("ABG-Camuto"), which is a partnership between Camuto LLC, a wholly-owned subsidiary doing business as "Camuto Group," and Authentic Brands Group LLC, a global brand management and marketing company. Camuto Group has a 40% stake in ABG-Camuto, a joint venture that holds several intellectual property rights, including, among others, Vince Camuto and Louise et Cie, and focuses on licensing and developing new category extensions to support the global growth of these brands. Camuto Group has a licensing agreement with ABG-Camuto whereby we pay royalties on our net sales from the brands managed by ABG-Camuto, subject to guaranteed minimums. Camuto Group also holds footwear and certain handbag licensing rights of Jessica Simpson, Lucky Brand and, through a joint venture, JLO Jennifer Lopez. Basis of Presentation- The accompanying unaudited, condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 29, 2022 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the 2021 Form 10-K. Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year (e.g., "2022") refer to the calendar year in which the fiscal year begins. This reporting schedule is followed by many national retail companies and typically results in a 52-week fiscal year (including 2022 and 2021), but occasionally will contain an additional week resulting in a 53-week fiscal year (including 2023). SIGNIFICANT ACCOUNTING POLICIES Accounting Policies - The complete summary of significant accounting policies is included in the notes to the consolidated financial statements as presented in our 2021 Form 10-K. Principles of Consolidation- The condensed consolidated financial statements include the accounts of Designer Brands Inc. and its subsidiaries, including variable interest entities. All intercompany accounts and transactions have been eliminated in consolidation. All amounts are in U.S. dollars. Use of Estimates- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and reported amounts of net sales and expenses during the reporting periods. Certain estimates and assumptions use forecasted financial information based on information reasonably available to us. Significant estimates and assumptions are required as a part of accounting for sales returns allowances, customer allowances and discounts, gift card breakage income, deferred revenue associated with loyalty programs, valuation of inventories, depreciation and amortization, impairments of long-lived assets, intangibles and goodwill, lease accounting, income taxes, and self-insurance reserves. Although we believe these estimates and assumptions are reasonable, they are based on management's knowledge of current events and actions we may undertake in the future. Changes in facts and circumstances may result in revised estimates and assumptions, and actual results could differ from these estimates. Severance- During the three months ended April 30, 2022 and May 1, 2021, we incurred severance costs of $0.7 million and $1.4 million, respectively. These costs are included in operating expenses in the condensed consolidated statements of operations. As of April 30, 2022, January 29, 2022, and May 1, 2021, we had accrued severance of $1.1 million, $1.9 million, and $5.1 million, respectively, included in accrued expenses on the condensed consolidated balance sheets. Income Taxes- For the three months ended April 30, 2022 and May 1, 2021, our effective tax rate was 30.0% and negative 89.2%, respectively. The rate for three months ended April 30, 2022 was impacted by permanent tax adjustments, primarily non-deductible compensation. The negative rate for the three months ended May 1, 2021 was the result of maintaining a full valuation allowance on deferred tax assets along with net discrete tax benefits, primarily as a result of adjustments to our estimated 2020 return reflecting implemented tax strategies. Cash, Cash Equivalents, and Restricted Cash - Cash and cash equivalents represent cash, money market funds, and credit card receivables that generally settle within three days. Restricted cash represents cash that is restricted as to withdrawal or usage and consists of a mandatory cash deposit maintained for certain insurance policies and letters of credit. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Cash and cash equivalents $ 54,802 $ 72,691 $ 49,301 Restricted cash, included in prepaid expenses and other current assets 1,767 1,768 — Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 56,569 $ 74,459 $ 49,301 Intangible Assets - During the three months ended April 30, 2022, we acquired the rights to the shoes.com tradename for $4.9 million, which was recorded as a definite-lived tradename intangible asset with a useful life of 15 years. Fair Value- Fair value is defined as the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to the subjectivity associated with the inputs to fair value measurements as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets or inputs that are observable. • Level 3 - Unobservable inputs in which little or no market activity exists. The carrying value of cash and cash equivalents, restricted cash, receivables, and accounts payables approximated their fair values due to their short-term nature. The carrying value of borrowings under our revolving lines of credit approximated fair value based on its term and variable interest rate. Impairment of Long-Lived Assets- During the three months ended April 30, 2022, we recorded an impairment charge of $1.1 million in the Brand Portfolio segment for the sublease of an abandoned leased space.

Revenue

Revenue	3 Months Ended
	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE DISAGGREGATION OF NET SALES Net Sales by Brand Categories- The following table presents net sales disaggregated by brand categories for each segment: (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Three months ended April 30, 2022 Owned Brands: (1) Direct-to-consumer $ 139,155 $ — $ 6,527 $ — $ 145,682 External customer wholesale and commission income — — 64,956 — 64,956 Intersegment wholesale and commission income — — 25,973 (25,973) — Total Owned Brands 139,155 — 97,456 (25,973) 210,638 National Brands 563,590 — — — 563,590 Canada Retail (2) — 56,315 — — 56,315 Total Net Sales $ 702,745 $ 56,315 $ 97,456 $ (25,973) $ 830,543 Three months ended May 1, 2021 Owned Brands: (1) Direct-to-consumer $ 83,266 $ — $ 5,453 $ — $ 88,719 External customer wholesale and commission income — — 36,440 — 36,440 Intersegment wholesale and commission income — — 15,534 (15,534) — Total Owned Brands 83,266 — 57,427 (15,534) 125,159 National Brands 537,392 — — — 537,392 Canada Retail (2) — 40,604 — — 40,604 Total Net Sales $ 620,658 $ 40,604 $ 57,427 $ (15,534) $ 703,155 (1) Owned Brands include those brands we have rights to sell through ownership or license arrangements. (2) We currently do not report the Canada Retail segment net sales by brand categories. Net Sales by Product and Service Categories- The following table presents net sales disaggregated by product and service category for each segment: Three months ended (in thousands) April 30, 2022 May 1, 2021 Net sales: U.S. Retail segment: Women's footwear $ 469,131 $ 405,300 Men's footwear 145,807 131,947 Kids' footwear 52,918 54,732 Accessories and other 34,889 28,679 702,745 620,658 Canada Retail segment: Women's footwear 30,004 20,431 Men's footwear 14,428 9,528 Kids' footwear 9,817 9,513 Accessories and other 2,066 1,132 56,315 40,604 Brand Portfolio segment: Wholesale 87,775 48,643 First Cost commission income 3,154 3,331 Direct-to-consumer 6,527 5,453 97,456 57,427 Total segment net sales 856,516 718,689 Elimination of intersegment sales (25,973) (15,534) Total net sales $ 830,543 $ 703,155 DEFERRED REVENUE LIABILITIES We record deferred revenue liabilities, included in accrued expenses on the condensed consolidated balance sheets, for remaining obligations we have to our customers. The following table presents the changes and total balances for gift cards and our loyalty programs: Three months ended (in thousands) April 30, 2022 May 1, 2021 Gift cards: Beginning of period $ 36,783 $ 34,442 Gift cards redeemed and breakage recognized to net sales (18,260) (17,170) Gift cards issued 14,321 13,537 End of period $ 32,844 $ 30,809 Loyalty programs: Beginning of period $ 15,736 $ 11,379 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (7,881) (4,896) Deferred revenue for loyalty points issued 8,388 6,472 End of period $ 16,243 $ 12,955

Related Party Transactions

Related Party Transactions	3 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Schottenstein Affiliates We have transactions with entities owned or controlled by Jay L. Schottenstein, the executive chairman of our Board of Directors, and members of his family (the "Schottenstein Affiliates"). As of April 30, 2022, the Schottenstein Affiliates beneficially owned approximately 20% of the Company's outstanding common shares, representing approximately 54% of the combined voting power of the Company, consisting of, in the aggregate, 6.7 million Class A common shares and 7.7 million Class B common shares. The following summarizes the related party transactions with the Schottenstein Affiliates for the relevant periods: Leases- We lease our fulfillment center and certain store locations owned by the Schottenstein Affiliates. During the three months ended April 30, 2022 and May 1, 2021, we recorded rent expense from leases with Schottenstein Affiliates of $2.5 million and $2.7 million, respectively. As of April 30, 2022, January 29, 2022, and May 1, 2021, we had related party current operating lease liabilities of $5.7 million, $6.3 million, and $6.8 million, respectively, and non-current operating lease liabilities of $10.6 million, $18.3 million, and $22.9 million , respectively. Other Purchases and Services- During the three months ended April 30, 2022 and May 1, 2021, we had other purchases and services we incurred from the Schottenstein Affiliates of $1.1 million and $1.4 million, respectively. Due to Related Parties- Amounts due to Schottenstein Affiliates, other than operating lease liabilities, were immaterial for all periods presented. ABG-Camuto We have a 40% interest in our equity investment in ABG-Camuto. We have a licensing agreement with ABG-Camuto, pursuant to which we pay royalties on the net sales of the brands managed by ABG-Camuto, subject to guaranteed minimums. For both the three months ended April 30, 2022 and May 1, 2021, we recorded royalty expense for amounts paid to ABG-Camuto of $4.6 million. Amounts due to ABG-Camuto were immaterial for all periods presented.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share is based on net income and the weighted average of Class A and Class B common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options and restricted stock units ("RSUs") calculated using the treasury stock method. The following is a reconciliation between basic and diluted weighted average shares outstanding, as used in the calculation of earnings per share: Three months ended (in thousands) April 30, 2022 May 1, 2021 Weighted average basic shares outstanding 72,923 72,613 Dilutive effect of stock-based compensation awards 4,001 4,363 Weighted average diluted shares outstanding 76,924 76,976

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION Stock-based compensation expense consisted of the following: Three months ended (in thousands) April 30, 2022 May 1, 2021 Stock options $ 101 $ 253 Restricted and director stock units 8,493 7,204 $ 8,594 $ 7,457 The following table summarizes the stock-based compensation award share activity for RSUs for the three months ended April 30, 2022: (in thousands) Shares of Time-Based RSUs Shares of Performance-Based RSUs Outstanding - beginning of period 6,058 744 Granted 1,344 533 Vested (575) (174) Forfeited (74) — Outstanding - end of period 6,753 1,103

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Apr. 30, 2022
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS' EQUITY Shares- Our Class A common shares are listed for trading under the ticker symbol "DBI" on the New York Stock Exchange. There is currently no public market for the Company's Class B common shares, but the Class B common shares can be exchanged for the Company's Class A common shares at the election of the holder on a share for share basis. Holders of Class A common shares are entitled to one vote per share and holders of Class B common shares are entitled to eight votes per share on matters submitted to shareholders for approval. The following table provides additional information for our common shares: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Class A Class B Class A Class B Class A Class B Authorized shares 250,000 100,000 250,000 100,000 250,000 100,000 Issued shares 88,275 7,733 87,793 7,733 87,303 7,733 Outstanding shares 64,450 7,733 65,624 7,733 65,134 7,733 Treasury shares 23,825 — 22,169 — 22,169 — We have authorized 100 million shares of no par value preferred shares, with no shares issued for any of the periods presented. Dividends- On April 4, 2022, the Board of Directors declared a quarterly cash dividend payment of $0.05 per share for both Class A and Class B common shares. The dividend was paid on May 6, 2022 to shareholders of record at the close of business on April 22, 2022. A s of April 30, 2022, t he dividend was accrued and recorded against common shares paid in capital on the condensed consolidated balance sheets and as shown on the condensed consolidated statements of shareholders' equity due to the Company being in a retained deficit position, as required under the Ohio General Corporation Law. On May 19, 2022, the Board of Directors declared a quarterly cash dividend payment of $0.05 per share for both Class A and Class B common shares. The dividend will be paid on July 6, 2022 to shareholders of record at the close of business on June 22, 2022. The dividend is expected to be recorded against common shares paid in capital due to the Company being in a retained deficit position, as required under the Ohio General Corporation Law. Share Repurchases- On August 17, 2017, the Board of Directors authorized the repurchase of an additional $500 million of Class A common shares under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. During the three months ended April 30, 2022, we repurchased 1.7 million Class A common shares at an aggregate cost of $22.7 million, with $312.2 million of Class A common shares that remain authorized under the program a s of April 30, 2022 . During the three months ended May 1, 2021, we did not repurchase any Class A common shares. The share repurchase program may be suspended, modified or discontinued at any time, and we have no obligation to repurchase any amount of our common shares under the program. Shares will be repurchased in the open market at times and in amounts considered appropriate based on price and market conditions.

Receivables

Receivables	3 Months Ended
	Apr. 30, 2022
Accounts Receivable [Abstract]
Receivables	RECEIVABLES Receivables, net, consisted of the following: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Customer accounts receivables: Serviced by third-party provider with guaranteed payment $ 50,591 $ 27,827 $ 38,572 Serviced by third-party provider without guaranteed payment 232 82 323 Serviced in-house 3,246 2,783 3,558 Income tax receivable 162,788 162,240 158,890 Other receivables 6,573 8,026 13,305 Total receivables 223,430 200,958 214,648 Allowance for doubtful accounts (1,133) (1,132) (1,201) $ 222,297 $ 199,826 $ 213,447

Accrued Expenses

Accrued Expenses	3 Months Ended
	Apr. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	ACCRUED EXPENSES Accrued expenses consisted of the following: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Gift cards $ 32,844 $ 36,783 $ 30,809 Accrued compensation and related expenses 26,693 41,603 29,945 Accrued taxes 32,526 28,327 32,093 Loyalty programs deferred revenue 16,243 15,736 12,955 Sales returns, customer allowances and discounts 23,030 20,671 25,698 Other 76,946 72,692 63,737 $ 208,282 $ 215,812 $ 195,237

Debt

Debt	3 Months Ended
	Apr. 30, 2022
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 2020 ABL Revolver $ — $ — $ 104,843 2022 ABL Revolver 306,861 — — Term Loan — 231,250 240,625 Total debt 306,861 231,250 345,468 Less unamortized Term Loan debt issuance costs — (5,714) (8,081) Less current maturities of long-term debt — — (62,500) Long-term debt $ 306,861 $ 225,536 $ 274,887 2022 ABL Revolver- On March 30, 2022, we replaced our previous senior secured asset-based revolving credit facility ("2020 ABL Revolver") with our current senior secured asset-based revolving credit facility ("2022 ABL Revolver"), which provides a revolving line of credit of up to $550.0 million, including a Canadian sub-limit of up to $55.0 million, a $75.0 million sub-limit for the issuance of letters of credit, a $55.0 million sub-limit for swing loan advances for U.S. borrowings, and a $5.5 million sub-limit for swing loan advances for Canadian borrowings. Our 2022 ABL Revolver matures in March 2027 and is secured by a first priority lien on substantially all of our personal property assets, including credit card receivables and inventory. The 2022 ABL Revolver may be used to provide funds for working capital, capital expenditures, share repurchases, other expenditures, and permitted acquisitions as defined by the credit facility agreement. The amount of credit available is limited to a borrowing base formulated on, among other things, a percentage of the book value of eligible inventory and credit card receivables, as reduced by certain reserves. As of April 30, 2022, the 2022 ABL Revolver had a borrowing base of $550.0 million, with $306.9 million outstanding borrowings and $4.9 million in letters of credit issued, resulting in $238.2 million available for borrowings. Borrowings and letters of credit issued under the 2022 ABL Revolver accrue interest, at our option, at a rate equal to: (A) a base rate per annum equal to the greatest of (i) the prime rate, (ii) the Fed Funds Rate (as defined and subject to a floor of 0%) plus 0.5%, and (iii) the one-month Adjusted Term SOFR (as defined) plus 1.0%; or (B) a one-month, three-month or six-month Adjusted Term SOFR per annum (subject to a floor of 0%), plus, in each instance, an applicable rate to be determined based on average availability, with an interest rate of 2.4% as of April 30, 2022. Commitment fees are based on the unused portion of the 2022 ABL Revolver. Interest expense related to the 2022 ABL Revolver includes interest on borrowings and letters of credit, commitment fees, and the amortization of debt issuance costs. Debt Covenants- The 2022 ABL Revolver requires us to maintain a fixed charge coverage ratio covenant of not less than 1:1 when availability is less than the greater of $41.3 million and 10.0% of the maximum borrowing amount. The 2022 ABL Revolver also contains customary covenants restricting our activities, including limitations on the ability to sell assets, engage in acquisitions, enter into transactions involving related parties, incur additional debt, grant liens on assets, pay dividends or repurchase stock, and make certain other changes. There are specific exceptions to these covenants including, in some cases, upon satisfying specified payment conditions based on availability. The 2022 ABL Revolver contains customary events of default, including failure to comply with certain financial and other covenants. Upon an event of default that is not cured or waived within the cure periods, in addition to other remedies that may be available to the lenders, the obligations may be accelerated, outstanding letters of credit may be required to be cash collateralized, and remedies may be exercised against the collateral. As of April 30, 2022, we were in compliance with all financial covenants. Termination of Term Loan- On February 8, 2022, we settled in full the $231.3 million principal amount outstanding on that date under our senior secured term loan agreement ("Term Loan"). In connection with this settlement, we incurred a $12.7 million loss on extinguishment of debt, composed of a $6.9 million prepayment premium and a $5.7 million write-off of unamortized debt issuance costs.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Proceedings- We are involved in various legal proceedings that are incidental to the conduct of our business. Although it is not possible to predict with certainty the eventual outcome of any litigation, we believe the amount of any potential liability with respect to current legal proceedings will not be material to the results of operations or financial condition. As additional information becomes available, we will assess any potential liability related to pending litigation and revise the estimates as needed. Guarantee- We provide guarantees for lease obligations that are scheduled to expire in fiscal 2023 for locations that have been leased to third parties. If a third party does not pay the rent or vacates the premise, we may be required to make full rent payments to the landlord. As of April 30, 2022, the total future minimum lease payment requirements under these guarantees were approxim ately $12.9 million.

Segment Reporting

Segment Reporting	3 Months Ended
	Apr. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING The following provides certain key financial data by segment reconciled to the condensed consolidated financial statements: (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Three months ended April 30, 2022 Net sales: External customer sales $ 702,745 $ 56,315 $ 71,483 $ — $ 830,543 Intersegment sales — — 25,973 (25,973) — Total net sales $ 702,745 $ 56,315 $ 97,456 $ (25,973) $ 830,543 Gross profit $ 233,067 $ 18,873 $ 23,842 $ (37) $ 275,745 Income from equity investment $ — $ — $ 1,945 $ — $ 1,945 Three months ended May 1, 2021 Net sales: External customer sales $ 620,658 $ 40,604 $ 41,893 $ — $ 703,155 Intersegment sales — — 15,534 (15,534) — Total net sales $ 620,658 $ 40,604 $ 57,427 $ (15,534) $ 703,155 Gross profit $ 193,113 $ 10,835 $ 11,926 $ 237 $ 216,111 Income from equity investment $ — $ — $ 1,708 $ — $ 1,708

Description of Business and S_2

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation- The accompanying unaudited, condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the U.S. ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 29, 2022 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the 2021 Form 10-K.
Fiscal Year	Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year (e.g., "2022") refer to the calendar year in which the fiscal year begins. This reporting schedule is followed by many national retail companies and typically results in a 52-week fiscal year (including 2022 and 2021), but occasionally will contain an additional week resulting in a 53-week fiscal year (including 2023).
Principles of Consolidation	Principles of Consolidation- The condensed consolidated financial statements include the accounts of Designer Brands Inc. and its subsidiaries, including variable interest entities. All intercompany accounts and transactions have been eliminated in consolidation. All amounts are in U.S. dollars.
Use of Estimates	Use of Estimates- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and reported amounts of net sales and expenses during the reporting periods. Certain estimates and assumptions use forecasted financial information based on information reasonably available to us. Significant estimates and assumptions are required as a part of accounting for sales returns allowances, customer allowances and discounts, gift card breakage income, deferred revenue associated with loyalty programs, valuation of inventories, depreciation and amortization, impairments of long-lived assets, intangibles and goodwill, lease accounting, income taxes, and self-insurance reserves. Although we believe these estimates and assumptions are reasonable, they are based on management's knowledge of current events and actions we may undertake in the future. Changes in facts and circumstances may result in revised estimates and assumptions, and actual results could differ from these estimates.
Severance	Severance- During the three months ended April 30, 2022 and May 1, 2021, we incurred severance costs of $0.7 million and $1.4 million, respectively. These costs are included in operating expenses in the condensed consolidated statements of operations. As of April 30, 2022, January 29, 2022, and May 1, 2021, we had accrued severance of $1.1 million, $1.9 million, and $5.1 million, respectively, included in accrued expenses on the condensed consolidated balance sheets.
Income Taxes	Income Taxes- For the three months ended April 30, 2022 and May 1, 2021, our effective tax rate was 30.0% and negative 89.2%, respectively. The rate for three months ended April 30, 2022 was impacted by permanent tax adjustments, primarily non-deductible compensation. The negative rate for the three months ended May 1, 2021 was the result of maintaining a full valuation allowance on deferred tax assets along with net discrete tax benefits, primarily as a result of adjustments to our estimated 2020 return reflecting implemented tax strategies.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash - Cash and cash equivalents represent cash, money market funds, and credit card receivables that generally settle within three days. Restricted cash represents cash that is restricted as to withdrawal or usage and consists of a mandatory cash deposit maintained for certain insurance policies and letters of credit.
Intangible Assets	Intangible Assets - During the three months ended April 30, 2022, we acquired the rights to the shoes.com tradename for $4.9 million, which was recorded as a definite-lived tradename intangible asset with a useful life of 15 years.
Fair Value	Fair Value- Fair value is defined as the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to the subjectivity associated with the inputs to fair value measurements as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets or inputs that are observable. • Level 3 - Unobservable inputs in which little or no market activity exists. The carrying value of cash and cash equivalents, restricted cash, receivables, and accounts payables approximated their fair values due to their short-term nature. The carrying value of borrowings under our revolving lines of credit approximated fair value based on its term and variable interest rate.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets- During the three months ended April 30, 2022, we recorded an impairment charge of $1.1 million in the Brand Portfolio segment for the sublease of an abandoned leased space.
Deferred Revenue Liabilities	We record deferred revenue liabilities, included in accrued expenses on the condensed consolidated balance sheets, for remaining obligations we have to our customers.
Earnings Per Share	Basic earnings per share is based on net income and the weighted average of Class A and Class B common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options and restricted stock units ("RSUs") calculated using the treasury stock method.
Shareholders' Equity	Shares- Our Class A common shares are listed for trading under the ticker symbol "DBI" on the New York Stock Exchange. There is currently no public market for the Company's Class B common shares, but the Class B common shares can be exchanged for the Company's Class A common shares at the election of the holder on a share for share basis. Holders of Class A common shares are entitled to one vote per share and holders of Class B common shares are entitled to eight votes per share on matters submitted to shareholders for approval.

Description of Business and S_3

Description of Business and Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Cash and cash equivalents $ 54,802 $ 72,691 $ 49,301 Restricted cash, included in prepaid expenses and other current assets 1,767 1,768 — Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 56,569 $ 74,459 $ 49,301
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Cash and cash equivalents $ 54,802 $ 72,691 $ 49,301 Restricted cash, included in prepaid expenses and other current assets 1,767 1,768 — Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 56,569 $ 74,459 $ 49,301

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents net sales disaggregated by brand categories for each segment: (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Three months ended April 30, 2022 Owned Brands: (1) Direct-to-consumer $ 139,155 $ — $ 6,527 $ — $ 145,682 External customer wholesale and commission income — — 64,956 — 64,956 Intersegment wholesale and commission income — — 25,973 (25,973) — Total Owned Brands 139,155 — 97,456 (25,973) 210,638 National Brands 563,590 — — — 563,590 Canada Retail (2) — 56,315 — — 56,315 Total Net Sales $ 702,745 $ 56,315 $ 97,456 $ (25,973) $ 830,543 Three months ended May 1, 2021 Owned Brands: (1) Direct-to-consumer $ 83,266 $ — $ 5,453 $ — $ 88,719 External customer wholesale and commission income — — 36,440 — 36,440 Intersegment wholesale and commission income — — 15,534 (15,534) — Total Owned Brands 83,266 — 57,427 (15,534) 125,159 National Brands 537,392 — — — 537,392 Canada Retail (2) — 40,604 — — 40,604 Total Net Sales $ 620,658 $ 40,604 $ 57,427 $ (15,534) $ 703,155 (1) Owned Brands include those brands we have rights to sell through ownership or license arrangements. (2) We currently do not report the Canada Retail segment net sales by brand categories. Three months ended (in thousands) April 30, 2022 May 1, 2021 Net sales: U.S. Retail segment: Women's footwear $ 469,131 $ 405,300 Men's footwear 145,807 131,947 Kids' footwear 52,918 54,732 Accessories and other 34,889 28,679 702,745 620,658 Canada Retail segment: Women's footwear 30,004 20,431 Men's footwear 14,428 9,528 Kids' footwear 9,817 9,513 Accessories and other 2,066 1,132 56,315 40,604 Brand Portfolio segment: Wholesale 87,775 48,643 First Cost commission income 3,154 3,331 Direct-to-consumer 6,527 5,453 97,456 57,427 Total segment net sales 856,516 718,689 Elimination of intersegment sales (25,973) (15,534) Total net sales $ 830,543 $ 703,155
Deferred Revenue	The following table presents the changes and total balances for gift cards and our loyalty programs: Three months ended (in thousands) April 30, 2022 May 1, 2021 Gift cards: Beginning of period $ 36,783 $ 34,442 Gift cards redeemed and breakage recognized to net sales (18,260) (17,170) Gift cards issued 14,321 13,537 End of period $ 32,844 $ 30,809 Loyalty programs: Beginning of period $ 15,736 $ 11,379 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (7,881) (4,896) Deferred revenue for loyalty points issued 8,388 6,472 End of period $ 16,243 $ 12,955

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Reconciliation of the Number of Shares Used in the Calculation of Diluted Earnings per Share	The following is a reconciliation between basic and diluted weighted average shares outstanding, as used in the calculation of earnings per share: Three months ended (in thousands) April 30, 2022 May 1, 2021 Weighted average basic shares outstanding 72,923 72,613 Dilutive effect of stock-based compensation awards 4,001 4,363 Weighted average diluted shares outstanding 76,924 76,976

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expense consisted of the following: Three months ended (in thousands) April 30, 2022 May 1, 2021 Stock options $ 101 $ 253 Restricted and director stock units 8,493 7,204 $ 8,594 $ 7,457
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following table summarizes the stock-based compensation award share activity for RSUs for the three months ended April 30, 2022: (in thousands) Shares of Time-Based RSUs Shares of Performance-Based RSUs Outstanding - beginning of period 6,058 744 Granted 1,344 533 Vested (575) (174) Forfeited (74) — Outstanding - end of period 6,753 1,103

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Apr. 30, 2022
Equity [Abstract]
Schedule of Stock by Class	The following table provides additional information for our common shares: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Class A Class B Class A Class B Class A Class B Authorized shares 250,000 100,000 250,000 100,000 250,000 100,000 Issued shares 88,275 7,733 87,793 7,733 87,303 7,733 Outstanding shares 64,450 7,733 65,624 7,733 65,134 7,733 Treasury shares 23,825 — 22,169 — 22,169 —

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Apr. 30, 2022
Accounts Receivable [Abstract]
Schedule of Accounts Receivable, Net	Receivables, net, consisted of the following: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Customer accounts receivables: Serviced by third-party provider with guaranteed payment $ 50,591 $ 27,827 $ 38,572 Serviced by third-party provider without guaranteed payment 232 82 323 Serviced in-house 3,246 2,783 3,558 Income tax receivable 162,788 162,240 158,890 Other receivables 6,573 8,026 13,305 Total receivables 223,430 200,958 214,648 Allowance for doubtful accounts (1,133) (1,132) (1,201) $ 222,297 $ 199,826 $ 213,447

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Apr. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 Gift cards $ 32,844 $ 36,783 $ 30,809 Accrued compensation and related expenses 26,693 41,603 29,945 Accrued taxes 32,526 28,327 32,093 Loyalty programs deferred revenue 16,243 15,736 12,955 Sales returns, customer allowances and discounts 23,030 20,671 25,698 Other 76,946 72,692 63,737 $ 208,282 $ 215,812 $ 195,237

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: (in thousands) April 30, 2022 January 29, 2022 May 1, 2021 2020 ABL Revolver $ — $ — $ 104,843 2022 ABL Revolver 306,861 — — Term Loan — 231,250 240,625 Total debt 306,861 231,250 345,468 Less unamortized Term Loan debt issuance costs — (5,714) (8,081) Less current maturities of long-term debt — — (62,500) Long-term debt $ 306,861 $ 225,536 $ 274,887

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Apr. 30, 2022
Segment Reporting [Abstract]
Segment Information	The following provides certain key financial data by segment reconciled to the condensed consolidated financial statements: (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Three months ended April 30, 2022 Net sales: External customer sales $ 702,745 $ 56,315 $ 71,483 $ — $ 830,543 Intersegment sales — — 25,973 (25,973) — Total net sales $ 702,745 $ 56,315 $ 97,456 $ (25,973) $ 830,543 Gross profit $ 233,067 $ 18,873 $ 23,842 $ (37) $ 275,745 Income from equity investment $ — $ — $ 1,945 $ — $ 1,945 Three months ended May 1, 2021 Net sales: External customer sales $ 620,658 $ 40,604 $ 41,893 $ — $ 703,155 Intersegment sales — — 15,534 (15,534) — Total net sales $ 620,658 $ 40,604 $ 57,427 $ (15,534) $ 703,155 Gross profit $ 193,113 $ 10,835 $ 11,926 $ 237 $ 216,111 Income from equity investment $ — $ — $ 1,708 $ — $ 1,708

Description of Business and S_4

Description of Business and Significant Accounting Policies - Narrative (Details) $ in Millions	3 Months Ended
	Apr. 30, 2022USD ($)segment	May 01, 2021USD ($)	Jan. 29, 2022USD ($)
Number of reportable segments | segment	3
Severance costs	$ 0.7	$ 1.4
Accrued severance	$ 1.1	$ 5.1	$ 1.9
Effective tax rate	30.00%	(89.20%)
Long-lived assets, impairment charges	$ 1.1
Tradename
Intangible assets acquired	$ 4.9
Intangible assets useful life	15 years
ABG-Camuto, LLC
Ownership percentage	40.00%

Description of Business and S_5

Description of Business and Significant Accounting Policies - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021	Jan. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 54,802	$ 72,691	$ 49,301
Restricted cash, included in prepaid expenses and other current assets	1,767	1,768	0
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows	$ 56,569	$ 74,459	$ 49,301	$ 59,581

Revenue - by Brand Categories (

Revenue - by Brand Categories (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 830,543	$ 703,155
Elimination of intersegment sales
Disaggregation of Revenue [Line Items]
Total Net Sales	(25,973)	(15,534)
U.S. Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	702,745	620,658
Canada Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	56,315	40,604
Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	97,456	57,427
Brand Portfolio | Elimination of intersegment sales
Disaggregation of Revenue [Line Items]
Total Net Sales	25,973	15,534
Owned Brands
Disaggregation of Revenue [Line Items]
Total Net Sales	210,638	125,159
Owned Brands | Elimination of intersegment sales
Disaggregation of Revenue [Line Items]
Total Net Sales	(25,973)	(15,534)
Owned Brands | U.S. Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	139,155	83,266
Owned Brands | Canada Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
Owned Brands | Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	97,456	57,427
Owned Brands | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Total Net Sales	145,682	88,719
Owned Brands | Direct-to-consumer | U.S. Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	139,155	83,266
Owned Brands | Direct-to-consumer | Canada Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
Owned Brands | Direct-to-consumer | Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	6,527	5,453
Owned Brands | External customer wholesale and commission income
Disaggregation of Revenue [Line Items]
Total Net Sales	64,956	36,440
Owned Brands | External customer wholesale and commission income | U.S. Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
Owned Brands | External customer wholesale and commission income | Canada Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
Owned Brands | External customer wholesale and commission income | Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	64,956	36,440
Owned Brands | Intersegment wholesale and commission income | Elimination of intersegment sales
Disaggregation of Revenue [Line Items]
Total Net Sales	(25,973)	(15,534)
Owned Brands | Intersegment wholesale and commission income | Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	25,973	15,534
National Brands
Disaggregation of Revenue [Line Items]
Total Net Sales	563,590	537,392
National Brands | U.S. Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	563,590	537,392
National Brands | Canada Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
National Brands | Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
Canada Retail
Disaggregation of Revenue [Line Items]
Total Net Sales	56,315	40,604
Canada Retail | U.S. Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	0	0
Canada Retail | Canada Retail | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	56,315	40,604
Canada Retail | Brand Portfolio | Operating Segments
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 0	$ 0

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	$ 830,543	$ 703,155
Gift cards, beginning of period	36,783	34,442
Gift cards, end of period	32,844	30,809
Loyalty programs, beginning of period	15,736	11,379
Loyalty programs, end of period	16,243	12,955
Loyalty certificates redeemed and expired and other adjustments recognized to net sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in contract with customer, liability	(7,881)	(4,896)
Increase (decrease) in contract with customer, liability	(7,881)	(4,896)
Deferred revenue for loyalty points issued
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in contract with customer, liability	8,388	6,472
Increase (decrease) in contract with customer, liability	8,388	6,472
Product
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	830,543	703,155
Gift cards redeemed and breakage recognized to net sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in contract with customer, liability	(18,260)	(17,170)
Increase (decrease) in contract with customer, liability	(18,260)	(17,170)
Gift cards issued
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in contract with customer, liability	14,321	13,537
Increase (decrease) in contract with customer, liability	14,321	13,537
Operating Segments | Product
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	856,516	718,689
Operating Segments | U.S. Retail
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	702,745	620,658
Operating Segments | U.S. Retail | Product
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	702,745	620,658
Operating Segments | U.S. Retail | Women's footwear
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	469,131	405,300
Operating Segments | U.S. Retail | Men's footwear
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	145,807	131,947
Operating Segments | U.S. Retail | Kids' footwear
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	52,918	54,732
Operating Segments | U.S. Retail | Accessories and other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	34,889	28,679
Operating Segments | Canada Retail
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	56,315	40,604
Operating Segments | Canada Retail | Product
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	56,315	40,604
Operating Segments | Canada Retail | Women's footwear
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	30,004	20,431
Operating Segments | Canada Retail | Men's footwear
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	14,428	9,528
Operating Segments | Canada Retail | Kids' footwear
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	9,817	9,513
Operating Segments | Canada Retail | Accessories and other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	2,066	1,132
Operating Segments | Brand Portfolio
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	97,456	57,427
Operating Segments | Brand Portfolio | Product
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	71,483	41,893
Operating Segments | Brand Portfolio | Wholesale
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	87,775	48,643
Operating Segments | Brand Portfolio | First Cost commission income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	3,154	3,331
Operating Segments | Brand Portfolio | Direct-to-consumer
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	6,527	5,453
Elimination of intersegment sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	(25,973)	(15,534)
Elimination of intersegment sales | Brand Portfolio
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
External customer sales	$ 25,973	$ 15,534

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021	Jan. 29, 2022
Related Party Transaction [Line Items]
Related party transaction outstanding common shares owned (in hundredths)	20.00%
Related party transaction combined voting power of outstanding common shares (in hundredths)	54.00%
Current operating lease liabilities	$ 179,870	$ 200,666	$ 202,228
Non-current operating lease liabilities	579,839	663,018	593,429
Related Party
Related Party Transaction [Line Items]
Current operating lease liabilities	5,700	6,800	6,300
Non-current operating lease liabilities	10,600	22,900	$ 18,300
Related Party
Related Party Transaction [Line Items]
Lease expense	$ 2,500	2,700
Class A Common Shares
Related Party Transaction [Line Items]
Related party transaction, number of shares owned by related party (in shares)	6.7
Class B Common Shares
Related Party Transaction [Line Items]
Related party transaction, number of shares owned by related party (in shares)	7.7
Schottenstein Affiliates
Related Party Transaction [Line Items]
Related party transaction, purchases from related party	$ 1,100	1,400
Royalty Arrangement
Related Party Transaction [Line Items]
Royalty expense	$ 4,600	$ 4,600
ABG-Camuto, LLC
Related Party Transaction [Line Items]
Ownership percentage	40.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Earnings Per Share [Abstract]
Weighted average basic shares outstanding	72,923	72,613
Dilutive effect of stock-based compensation awards	4,001	4,363
Weighted average diluted shares outstanding	76,924	76,976

Earnings Per Share - Anti-Dilut

Earnings Per Share - Anti-Dilutive Securities (Details) - shares shares in Millions	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Earnings Per Share [Abstract]
Securities outstanding not included in computation of diluted earnings per share	3	3.6

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 8,594	$ 7,457
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	101	253
Restricted and director stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 8,493	$ 7,204

Stock-Based Compensation - Awar

Stock-Based Compensation - Award Activity (Details) shares in Thousands	3 Months Ended
	Apr. 30, 2022shares
Shares of Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding - beginning of period	6,058
Granted	1,344
Vested	(575)
Forfeited	(74)
Outstanding - end of period	6,753
Shares of Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding - beginning of period	744
Granted	533
Vested	(174)
Forfeited	0
Outstanding - end of period	1,103

Shareholders' Equity - Class of

Shareholders' Equity - Class of Stock (Details)	Apr. 30, 2022vote$ / sharesshares	Jan. 29, 2022shares	May 01, 2021shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	100,000,000
Preferred stock, par value (USD per share) | $ / shares	$ 0
Preferred stock, shares issued (in shares)	0
Class A Common Shares
Class of Stock [Line Items]
Common stock, number of votes per share | vote	1
Common stock, shares authorized (in shares)	250,000,000	250,000,000	250,000,000
Common stock, shares, issued (in shares)	88,275,000	87,793,000	87,303,000
Common stock, shares, outstanding (in shares)	64,450,000	65,624,000	65,134,000
Treasury shares (in shares)	23,825,000	22,169,000	22,169,000
Class B Common Shares
Class of Stock [Line Items]
Common stock, number of votes per share | vote	8
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares, issued (in shares)	7,733,000	7,733,000	7,733,000
Common stock, shares, outstanding (in shares)	7,733,000	7,733,000	7,733,000
Treasury shares (in shares)	0	0	0

Shareholders' Equity - Dividend

Shareholders' Equity - Dividends (Details) - $ / shares	May 19, 2022	Apr. 04, 2022	Apr. 30, 2022
Dividends Payable [Line Items]
Dividends declared (USD per share)		$ 0.05	$ 0.05
Subsequent Event
Dividends Payable [Line Items]
Dividends declared (USD per share)	$ 0.05

Shareholders' Equity - Share Re

Shareholders' Equity - Share Repurchases (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Apr. 30, 2022	Aug. 17, 2017
Equity [Abstract]
Share repurchase authorized amount		$ 500
Remaining authorized amount	$ 312.2	$ 33.5
Repurchase of Class A common shares (in shares)	1.7
Repurchase of Class A common shares	$ 22.7

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021
Customer accounts receivables:
Serviced by third-party provider with guaranteed payment	$ 50,591	$ 27,827	$ 38,572
Serviced by third-party provider without guaranteed payment	232	82	323
Serviced in-house	3,246	2,783	3,558
Income tax receivable	162,788	162,240	158,890
Other receivables	6,573	8,026	13,305
Total receivables	223,430	200,958	214,648
Allowance for doubtful accounts	(1,133)	(1,132)	(1,201)
Receivables, net	$ 222,297	$ 199,826	$ 213,447

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 29, 2022	May 01, 2021	Jan. 30, 2021
Payables and Accruals [Abstract]
Gift cards	$ 32,844	$ 36,783	$ 30,809	$ 34,442
Accrued compensation and related expenses	26,693	41,603	29,945
Accrued taxes	32,526	28,327	32,093
Loyalty programs deferred revenue	16,243	15,736	12,955	$ 11,379
Sales returns, customer allowances and discounts	23,030	20,671	25,698
Other	76,946	72,692	63,737
Accrued expenses	$ 208,282	$ 215,812	$ 195,237

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Feb. 08, 2022	Aug. 07, 2020	Apr. 30, 2022	May 01, 2021	Jan. 29, 2022
Debt Instrument [Line Items]
Long-term debt, gross			$ 306,861	$ 345,468	$ 231,250
Less unamortized Term Loan debt issuance costs			0	(8,081)	(5,714)
Less current maturities of long-term debt			0	(62,500)	0
Long-term debt			306,861	274,887	225,536
Line of credit facility, current borrowing capacity			550,000
Letters of credit outstanding, amount			4,900
Line of credit facility, available borrowing capacity			238,200
Loss on extinguishment of debt and write-off of debt issuance costs			12,862	0
ABL Revolver
Debt Instrument [Line Items]
Long-term debt, gross		$ 550,000	$ 306,900
Basis spread on variable interest rate			2.40%
Covenant, fixed charge coverage ratio, minimum			1
Minimum availability covenant			$ 41,300
Minimum availability covenant, percent of maximum borrowing amount			10.00%
ABL Revolver | 2020 ABL Revolver
Debt Instrument [Line Items]
Long-term debt, gross			$ 0	104,843	0
ABL Revolver | 2022 ABL Revolver
Debt Instrument [Line Items]
Long-term debt, gross			306,861	0	0
ABL Revolver | Overnight Bank Funding Rate
Debt Instrument [Line Items]
Basis spread on variable interest rate		0.50%
ABL Revolver | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable interest rate		1.00%
ABL Revolver | London Interbank Offered Rate (LIBOR) | Interest Rate Floor
Debt Instrument [Line Items]
Basis spread on variable interest rate		0.00%
ABL Revolver | Canadian
Debt Instrument [Line Items]
Long-term debt, gross		$ 55,000
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross			$ 0	$ 240,625	$ 231,250
Repayments of debt	$ 231,300
Loss on extinguishment of debt and write-off of debt issuance costs	12,700
Prepayment premium	6,900
Write-off of unamortized debt issuance costs	$ 5,700
Letter of Credit
Debt Instrument [Line Items]
Long-term debt, gross		75,000
Domestic Line of Credit | United States
Debt Instrument [Line Items]
Long-term debt, gross		55,000
Foreign Line of Credit | Canadian
Debt Instrument [Line Items]
Long-term debt, gross		$ 5,500

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Apr. 30, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantees	$ 12.9

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	May 01, 2021
Segment information [Abstract]
External customer sales	$ 830,543	$ 703,155
Gross profit	275,745	216,111
Income from equity investment	1,945	1,708
Product
Segment information [Abstract]
External customer sales	830,543	703,155
Operating Segments | U.S. Retail
Segment information [Abstract]
External customer sales	702,745	620,658
Gross profit	233,067	193,113
Income from equity investment	0	0
Operating Segments | Canada Retail
Segment information [Abstract]
External customer sales	56,315	40,604
Gross profit	18,873	10,835
Income from equity investment	0	0
Operating Segments | Brand Portfolio
Segment information [Abstract]
External customer sales	97,456	57,427
Gross profit	23,842	11,926
Income from equity investment	1,945	1,708
Operating Segments | Product
Segment information [Abstract]
External customer sales	856,516	718,689
Operating Segments | Product | U.S. Retail
Segment information [Abstract]
External customer sales	702,745	620,658
Operating Segments | Product | Canada Retail
Segment information [Abstract]
External customer sales	56,315	40,604
Operating Segments | Product | Brand Portfolio
Segment information [Abstract]
External customer sales	71,483	41,893
Eliminations
Segment information [Abstract]
External customer sales	(25,973)	(15,534)
Gross profit	(37)	237
Income from equity investment	0	0
Eliminations | Product
Segment information [Abstract]
External customer sales	0	0
Intersegment eliminations
Segment information [Abstract]
External customer sales	(25,973)	(15,534)
Intersegment eliminations | Brand Portfolio
Segment information [Abstract]
External customer sales	$ 25,973	$ 15,534