Designer Brands (DBI) 10-Q 4 Jun 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	May 04, 2024	May 28, 2024
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 04, 2024
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--02-01
Entity Central Index Key	0001319947
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Shares
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		50,070,340
Class B Common Shares
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		7,732,733

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Net sales	$ 746,596	$ 742,082
Gross profit	245,069	237,739
Operating expenses	(238,551)	(220,119)
Income from equity investments	2,864	2,331
Impairment charges	0	(341)
Operating profit	9,382	19,610
Interest expense, net	(11,561)	(6,597)
Non-operating expenses, net	(143)	(334)
Income (loss) before income taxes	(2,322)	12,679
Income tax benefit (provision)	3,207	(1,306)
Net income	885	11,373
Net loss (income) attributable to redeemable noncontrolling interest	(102)	42
Net income attributable to Designer Brands Inc.	$ 783	$ 11,415
Earnings per share attributable to Designer Brands Inc.:
Basic earnings per share	$ 0.01	$ 0.18
Diluted earnings per share	$ 0.01	$ 0.17
Weighted average shares used in per share calculations:
Basic shares	57,464	64,371
Diluted shares	59,470	67,042
Product
Net sales	$ 746,596	$ 742,082
Cost of sales	$ (501,527)	$ (504,343)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]
Net income	$ 885	$ 11,373
Other comprehensive loss-
Foreign currency translation loss	(903)	(817)
Comprehensive income (loss)	(18)	10,556
Comprehensive loss (income) attributable to redeemable noncontrolling interest	(102)	42
Comprehensive income (loss) attributable to Designer Brands Inc.	$ (120)	$ 10,598

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024	Apr. 29, 2023
ASSETS
Cash and cash equivalents	$ 43,434	$ 49,173	$ 50,569
Receivables, net	96,712	83,590	100,237
Inventories	620,493	571,331	637,396
Prepaid expenses and other current assets	78,224	73,338	43,598
Total current assets	838,863	777,432	831,800
Property and equipment, net	223,205	219,939	227,692
Operating lease assets	728,346	721,335	701,670
Goodwill	133,666	123,759	134,770
Intangible assets, net	85,252	82,827	75,450
Deferred tax assets	40,868	39,067	50,111
Equity investments	62,863	62,857	66,151
Other assets	50,540	49,016	46,851
Total assets	2,163,603	2,076,232	2,134,495
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND SHAREHOLDERS' EQUITY
Accounts payable	298,968	289,368	288,526
Accrued expenses	182,767	159,622	170,759
Current maturities of long-term debt	6,750	6,750	0
Current operating lease liabilities	161,050	166,531	183,074
Total current liabilities	649,535	622,271	642,359
Long-term debt	469,328	420,344	390,302
Non-current operating lease liabilities	657,625	646,161	635,245
Other non-current liabilities	25,253	24,948	23,342
Total liabilities	1,801,741	1,713,724	1,691,248
Commitments and contingencies
Redeemable noncontrolling interest	3,390	3,288	3,093
Shareholders' equity:
Common shares paid in-capital, no par value	1,032,998	1,030,765	1,018,773
Treasury shares, at cost	(764,802)	(764,802)	(662,614)
Retained earnings	96,818	98,896	90,162
Accumulated other comprehensive loss	(6,542)	(5,639)	(6,167)
Total shareholders' equity	358,472	359,220	440,154
Total liabilities, redeemable noncontrolling interest, and shareholders' equity	$ 2,163,603	$ 2,076,232	$ 2,134,495

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Treasury Shares	Common Shares Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Class A Common Shares	Class A Common Shares Common shares	Class B Common Shares	Class B Common Shares Common shares	Treasury Shares Treasury Shares
Common Shares, Outstanding, Beginning Balance (in shares) at Jan. 28, 2023							55,921		7,733	32,882
Beginning Balance at Jan. 28, 2023	$ 432,901	$ (662,614)	$ 1,018,872	$ 81,993	$ (5,350)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,415			11,415
Stock-based compensation activity (in shares)							2,057
Stock-based compensation activity	(99)		(99)
Dividends paid	(3,246)		0	(3,246)
Foreign currency translation gain (loss)	(817)				(817)
Common Shares, Outstanding, Ending Balance (in shares) at Apr. 29, 2023						57,978	57,978	7,733	7,733	32,882
Ending Balance at Apr. 29, 2023	440,154	(662,614)	1,018,773	90,162	(6,167)
Common Shares, Outstanding, Beginning Balance (in shares) at Feb. 03, 2024						49,491	49,491	7,733	7,733	42,560
Beginning Balance at Feb. 03, 2024	359,220	(764,802)	1,030,765	98,896	(5,639)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	783			783
Stock-based compensation activity (in shares)							569
Stock-based compensation activity	2,233		2,233
Dividends paid	(2,861)		0	(2,861)
Foreign currency translation gain (loss)	(903)				(903)
Common Shares, Outstanding, Ending Balance (in shares) at May. 04, 2024						50,060	50,060	7,733	7,733	42,560
Ending Balance at May. 04, 2024	$ 358,472	$ (764,802)	$ 1,032,998	$ 96,818	$ (6,542)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Statement of Stockholders' Equity [Abstract]
Dividends per share (in dollars per share)	$ 0.05	$ 0.05

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Cash flows from operating activities:
Net income	$ 885	$ 11,373
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	16,379	16,565
Stock-based compensation expense	5,554	11,654
Deferred income taxes	(1,848)	(1,826)
Income from equity investments	(2,864)	(2,331)
Distributions received from equity investments	2,859	0
Impairment charges	0	341
Other	351	(1,774)
Change in operating assets and liabilities, net of acquired amounts:
Accounts receivables	(16,999)	(20,985)
Income tax receivable	(514)	2,003
Inventories	(43,003)	14,168
Prepaid expenses and other current assets	(5,505)	45
Accounts payable	3,845	16,745
Accrued expenses	22,053	(19,246)
Operating lease assets and liabilities, net	(873)	(4,186)
Net cash provided by (used in) operating activities	(19,680)	22,546
Cash flows from investing activities:
Cash paid for property and equipment	(15,891)	(14,382)
Cash paid for business acquisitions	(16,674)	(109,553)
Other	4,362	0
Net cash used in investing activities	(28,203)	(123,935)
Cash flows from financing activities:
Borrowing on revolving credit facility	341,356	452,680
Payments on revolving credit facility	(291,131)	(343,263)
Payments for borrowings under Term Loan	(1,687)	0
Dividends paid	(2,861)	(3,246)
Cash paid for taxes for stock-based compensation shares withheld	(3,321)	(11,753)
Other	(33)	(911)
Net cash provided by financing activities	42,323	93,507
Effect of exchange rate changes on cash balances	(179)	(315)
Net decrease in cash and cash equivalents	(5,739)	(8,197)
Cash and cash equivalents, beginning of period	49,173	58,766
Cash and cash equivalents, end of period	43,434	50,569
Supplemental disclosures of cash flow information:
Net cash received for income taxes	46	2,887
Interest Paid, Excluding Capitalized Interest, Operating Activities	10,421	6,154
Cash paid for operating lease liabilities	49,953	52,974
Non-cash investing and financing activities:
Property and equipment purchases not yet paid	6,930	4,397
Operating lease liabilities arising from lease asset additions	8,525	4,711
Net increase to operating lease assets and lease liabilities for modifications	$ 30,327	$ 38,344

Description of Business and Sig

Description of Business and Significant Accounting Policies	3 Months Ended
	May 04, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS Business Operations- Designer Brands Inc. 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, DSW, and Rubino banners through its direct-to-consumer Canada stores and e-commerce sites. The Brand Portfolio segment earns revenue from the wholesale of products to retailers and international distributors, the sale of our branded products through direct-to-consumer e-commerce for the Vince Camuto, Keds, Hush Puppies, and Topo brands, and commissions for serving retailers as the design and buying agent for products under private labels. Our equity investments in ABG-Camuto, LLC ("ABG-Camuto") and Le Tigre 360 Global LLC ("Le Tigre") are an integral part of the Brand Portfolio segment. We have a 40.0% ownership interest in ABG-Camuto, a joint venture that owns the intellectual property rights of Vince Camuto and other brands. We are party to a licensing agreement with ABG-Camuto, which provides for the exclusive right to design, source, and sell footwear and handbags under the brands that ABG-Camuto owns. We have a 33.3% ownership interest in Le Tigre, which manages the Le Tigre brand. We are also party to a license agreement with Le Tigre, which provides for the exclusive right to design, source, and sell Le Tigre-branded footwear. In addition, we own the licensing rights for footwear and handbags of the Lucky Brand and the licensing rights for footwear of the Jessica Simpson brand and the Hush Puppies brand. On April 8, 2024, we completed the acquisition of Rubino Shoes Inc. ("Rubino"), a retailer of branded footwear, handbags, and accessories that operates Rubino banner stores and an e-commerce platform in Quebec, Canada. The acquisition of Rubino allows our Canada Retail segment to expand into the province of Quebec. 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 as of February 3, 2024 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 2023 Form 10-K. Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year (e.g., "2024") 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 2024), 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 2023 Form 10-K. Principles of Consolidation- The condensed consolidated financial statements include the accounts of Designer Brands Inc. and its subsidiaries, including any 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 repor ting 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 customer returns and allowances, 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, redeemable noncontrolling interest, income taxes and valuation allowances on deferred tax assets, self-insurance reserves, and acquisitions. Although we believe that 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. Chief Executive Officer Transition- In January 2023, we announced our succession process relating to the Company's Chief Executive Officer ("CEO") role, whereby our former CEO, Roger Rawlins, stepped down from his role as CEO and as a member of the Board of Directors (the "Board") effective April 1, 2023, at which time, Doug Howe, who previously served as Executive Vice President of the Company and President of DSW, assumed the CEO role and joined the Board. During the three months ended April 29, 2023, we recognized $2.2 million of CEO transition costs in operating expenses on the condensed consolidated statements of operations. There are no CEO transition costs for 2024. Severance- During the three months ended May 4, 2024 and April 29, 2023, we incurred severance costs of $2.4 million and $2.1 million, respectively. These costs are included in operating expenses in the condensed consolidated statements of operations. As of May 4, 2024, February 3, 2024, and April 29, 2023, we had $5.1 million, $3.9 million, and $4.7 million, respectively, of severance liability included in accrued expenses on the condensed consolidated balance sheets. Income Taxes- For the three months ended May 4, 2024 and April 29, 2023, our effective tax rate was 138.1% and 10.3%, respectively. The high effective tax rate for the three months ended May 4, 2024 was due to discrete tax benefits, primarily state tax planning initiatives and release of federal tax reserves no longer deemed necessary, that approximated the amount of loss before income taxes and the impact of permanent non-deductible compensation. The low effective tax rate for the three months ended April 29, 2023 was primarily due to net discrete tax benefits, including federal and state valuation allowance adjustments, partially offset by permanent non-deductible compensation. 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, receivables, and accounts payables approximated their fair values due to their short-term nature. The carrying value of borrowings under our ABL Revolver and our Term Loan approximated fair value based on the terms and variable interest rates. Recently Issued Accounting Pronouncements- In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2023-07, Improvements to Reportable Segment Disclosures , which updates reportable segment disclosure requirements including, among other things, enhanced disclosures about significant segment expenses and information used to assess segment performance. ASU 2023-07 is effective on a retrospective basis to all prior periods presented beginning with our 2024 Annual Report on Form 10-K and subsequent interim periods. We are currently evaluating the impact of adopting ASU 2023-07 to the notes of the condensed consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	May 04, 2024
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS ACQUISITION OF KEDS On February 4, 2023, we acquired the Keds business ("Keds"), including the Keds brand, inventory, and inventory-related accounts payable, from Wolverine World Wide, Inc. ("Seller"). The cash consideration was funded with available cash and borrowings on the ABL Revolver. The final purchase price and the allocation of the total consideration to the fair values of the assets and liabilities was finalized as of February 3, 2024, and consisted of the following: (in thousands) Final Purchase Price and Allocation Purchase price: Cash Consideration $ 127,304 Due from Seller for estimated contingent consideration (8,899) $ 118,405 Fair value of assets and liabilities acquired: Inventories $ 42,516 Goodwill 25,776 Intangible assets 53,500 Accounts payable (3,387) $ 118,405 The purchase price was subject to adjustments primarily based upon estimated contingent considerations as provided by the purchase agreement, which were based on recognized sales and incurred marketing costs for certain identified aged inventories. We recorded an estimated amount due from Seller at fair value based on our estimated probability of the conditions being met requiring payment. Changes to the estimated amount due from Seller after we have finalized the purchase price were recorded to earnings and were immaterial. The fair value of inventories, which were made up of finished goods, was determined based on market assumptions for realizing a reasonable profit after selling costs. The fair value of the intangible assets relates to $46.9 million of an indefinite-lived tradename and $6.6 million of customer relationships, amortized over a useful life of 10 years, and were based on the excess earnings method under the income approach with the relief from royalty method for the tradename. The fair value measurements were based on significant unobservable inputs, including discounted future cash flows, market-based assumed royalty rates, and customer attrition rates. The goodwill, included within the Brand Portfolio segment, represents the excess of the purchase price over the fair value of the net assets acquired and was primarily attributable to acquiring an established design and sourcing process for casual footwear, including kids' footwear, with international distribution. Goodwill is expected to be deductible for income tax purposes. ACQUISITION OF RUBINO On April 8, 2024, we acquired Rubino for $16.7 million in cash, subject to a working capital adjustment to be determined by the end of the third quarter of 2024, along with $1.5 million in contingent consideration. The cash consideration was funded with available cash and borrowings on the ABL Revolver. The contingent consideration represents the estimated fair value associated with a potential earn-out payment to the sellers of Rubino, which was estimated at the maximum potential amount, subject to Rubino's achievement of a defined average annual financial performance target for the 24-month period following the acquisition. The preliminary purchase price and the allocation of the total consideration to the fair values of the assets and liabilities consisted of the following: (in thousands) Preliminary Purchase Price and Allocation as of April 8, 2024 Purchase Price: Cash consideration $ 16,674 Contingent consideration 1,472 $ 18,146 Fair value of assets and liabilities acquired: Inventories $ 6,967 Operating lease assets 9,334 Goodwill 9,972 Intangible assets 3,166 Other assets 2,273 Accounts payable and other current liabilities (4,232) Operating lease liabilities (9,334) $ 18,146 We recorded an allocation of the purchase price to the tangible assets and intangible tradename acquired and liabilities assumed based on their fair value at the acquisition date. The contingent consideration and the allocation of the purchase price is based on certain preliminary valuations and analysis that have not been completed as of the date of this filing. Any subsequent changes in the estimated fair values assumed upon the finalization of more detailed analysis within the measurement period will change the allocation of the purchase price and will be adjusted during the period in which the amounts are determined. We expect to finalize the valuations as soon as practicable, but not later than one year from the acquisition date. The fair value of the intangible asset relates to an indefinite-lived tradename and was determined using the relief from royalty method of the income approach. The fair value measurements are based on significant unobservable inputs, including discounted future cash flows and an assumed royalty rate. The fair value of the operating lease assets was determined based on the market valuation approach. The goodwill, included within the Canada Retail segment, represents the excess of the purchase price over the fair value of the net assets acquired and was primarily attributable to acquiring an established retail banner in a province in Canada we did not previously have a presence in. Goodwill is expected to be deductible for income tax purposes. COMBINED RESULTS OF ACQUIRED ENTITY

Revenue

Revenue	3 Months Ended
	May 04, 2024
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 (2) Brand Portfolio Eliminations Consolidated Three months ended May 4, 2024 Owned Brands: (1) Direct-to-consumer $ 105,014 $ 8,360 $ 13,930 $ — $ 127,304 External customer wholesale, commission income, and other — — 55,787 — 55,787 Intersegment wholesale — — 34,413 (34,413) — Total Owned Brands 105,014 8,360 104,130 (34,413) 183,091 National brands 516,353 47,152 — — 563,505 Total net sales $ 621,367 $ 55,512 $ 104,130 $ (34,413) $ 746,596 Three months ended April 29, 2023 Owned Brands: (1) Direct-to-consumer $ 123,209 $ 7,872 $ 10,624 $ — $ 141,705 External customer wholesale, commission income, and other — — 64,617 — 64,617 Intersegment wholesale and commission income — — 17,742 (17,742) — Total Owned Brands 123,209 7,872 92,983 (17,742) 206,322 National brands 489,677 46,083 — — 535,760 Total net sales $ 612,886 $ 53,955 $ 92,983 $ (17,742) $ 742,082 (1) "Owned Brands" refers to those brands that we have rights to sell through ownership or license arrangements. (2) Beginning with the 2023 Form 10-K, we are providing a breakout of Canada Retail segment net sales by brand categories and we have recast the three months ended April 29, 2023 on a consistent basis. Net Sales by Product and Service Categories - The following table presents net sales disaggregated by product and service categories for each segment: Three months ended (in thousands) May 4, 2024 April 29, 2023 Net sales: U.S. Retail segment: Women's footwear $ 408,773 $ 407,193 Men's footwear 129,360 128,833 Kids' footwear 50,230 44,294 Accessories and other 33,004 32,566 621,367 612,886 Canada Retail segment: Women's footwear 30,859 30,514 Men's footwear 14,118 13,866 Kids' footwear 8,561 7,544 Accessories and other 1,974 2,031 55,512 53,955 Three months ended (in thousands) May 4, 2024 April 29, 2023 Brand Portfolio segment: Wholesale 88,670 80,784 Direct-to consumer 13,930 10,624 Commission income and other 1,530 1,575 104,130 92,983 Total segment net sales 781,009 759,824 Elimination of intersegment sales (34,413) (17,742) Total net sales $ 746,596 $ 742,082 During the three months ended October 28, 2023, we identified an error in the classification of certain net sales categories for the U.S. Retail segment in the Net Sales by Product and Service Categories table within Note 3, Revenue , of our condensed consolidated financial statements for the Quarterly Reports on Forms 10-Q for the first and second quarters of 2023. The above table for the three months ended April 29, 2023 has been corrected to reflect the reduction of $8.3 million of U.S. Retail segment net sales from accessories and other and increases of $4.0 million and $4.3 million of U.S. Retail segment net sales to women’s footwear and men’s footwear, respectively, representing the impact of the error for the first quarter of 2023. This immaterial correction did not impact the condensed consolidated statements of operations, comprehensive income (loss), or balance sheets. 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 loyalty programs: Three months ended (in thousands) May 4, 2024 April 29, 2023 Gift cards: Beginning of period $ 31,662 $ 35,121 Gift cards redeemed and breakage recognized to net sales (17,265) (16,449) Gift cards issued 13,414 12,261 End of period $ 27,811 $ 30,933 Loyalty programs: Beginning of period $ 15,971 $ 16,900 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (8,190) (7,592) Deferred revenue for loyalty points issued 7,167 7,324 End of period $ 14,948 $ 16,632

Related Party Transactions

Related Party Transactions	3 Months Ended
	May 04, 2024
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, and members of his family (the "Schottenstein Affiliates"). As of May 4, 2024, the Schottenstein Affiliates beneficially owned approximately 25% of the Company's outstanding common shares, representing approximately 61% of the combined voting power of the Company, consisting of, in the aggregate, 7.0 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 certain store and office locations that are owned by the Schottenstein Affiliates. For the three months ended May 4, 2024 and April 29, 2023, we recorded rent expense from the leases with Schottenstein Affiliates of $2.0 million and $1.9 million, respectively. As of May 4, 2024, February 3, 2024, and April 29, 2023, we had related party current operating lease liabilities of $4.0 million, $5.6 million, and $5.2 million, respectively, and non-current operating lease liabilities of $18.9 million, $18.5 million, and $13.0 million, respectively. Other Purchases and Services - For both the three months ended May 4, 2024 and April 29, 2023, we had other purchases and services we incurred from the Schottenstein Affiliates of $0.6 million, respectively. Due to Related Parties- Amounts due to the Schottenstein Affiliates, other than operating lease liabilities, were immaterial for all periods presented. EQUITY METHOD INVESTMENTS ABG-Camuto- We have a 40.0% ownership interest in ABG-Camuto. We are party to a licensing agreement with ABG-Camuto, pursuant to which we pay royalties on the net sales of the brands owned by ABG-Camuto, subject to guaranteed minimums. For the three months ended May 4, 2024 and April 29, 2023, we recorded royalty expense for amounts paid to ABG-Camuto of $4.8 million and $4.5 million, respectively. Le Tigre - We have a 33.3% ownership interest in Le Tigre. We are party to a license agreement with Le Tigre, pursuant to which we pay royalties on the net sales of the Le Tigre brand, subject to guaranteed minimums. Activity with Le Tigre was immaterial for all periods presented.

Earnings Per Share

Earnings Per Share	3 Months Ended
	May 04, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is based on net income attributable to Designer Brands Inc. 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 attributable to Designer Brands Inc.: Three months ended (in thousands) May 4, 2024 April 29, 2023 Weighted average basic shares outstanding 57,464 64,371 Dilutive effect of stock-based compensation awards 2,006 2,671 Weighted average diluted shares outstanding 59,470 67,042 For the three months ended May 4, 2024 and April 29, 2023, the number of shares relating to potentially dilutive stock-based compensation awards that were excluded from the computation of diluted earnings per share due to their anti-dilutive effect was 2.8 million and 4.5 million, respectively.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	May 04, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION For the three months ended May 4, 2024 and April 29, 2023, we recorded stock-based compensation expense of $5.6 million and $11.7 million, respectively, which is included in operating expenses in the condensed consolidated statements of operations. The following table summarizes the stock-based compensation award share activity for RSUs for the three months ended May 4, 2024: (in thousands) Shares of Time-Based RSUs Shares of Performance-Based RSUs Outstanding - beginning of period 4,383 1,236 Granted 1,750 729 Vested (588) (284) Forfeited (158) (692) Outstanding - end of period 5,387 989

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	May 04, 2024
Shareholders' 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 converted into 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) May 4, 2024 February 3, 2024 April 29, 2023 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 92,620 7,733 92,051 7,733 90,860 7,733 Outstanding shares 50,060 7,733 49,491 7,733 57,978 7,733 Treasury shares 42,560 — 42,560 — 32,882 — We have authorized 100 million shares of no par value preferred shares, with no shares issued for any of the periods presented. SHARE REPURCHASES On August 17, 2017, the Board authorized the repurchase of an additional $500.0 million of Class A common shar es under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. As of May 4, 2024, $87.7 million of Class A common shares remained available for repurchase under the share repurchase program. The share repurchase program may be suspended, modified, or discontinued at any time, and we have no obligation to repurchase any amount of our Class A common shares under the program. Under the share repurchase 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
	May 04, 2024
Receivables [Abstract]
RECEIVABLES	RECEIVABLES Receivables, net, consisted of the following: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 Customer accounts receivables: Receivables with payment guarantee by third-party provider $ 33,388 $ 18,615 $ 35,132 Receivables without payment guarantee 7,956 7,890 12,785 Income tax receivable 44,990 44,476 42,018 Other receivables 10,863 13,093 10,763 Total receivables 97,197 84,074 100,698 Allowance for doubtful accounts (485) (484) (461) $ 96,712 $ 83,590 $ 100,237

Accrued Expenses

Accrued Expenses	3 Months Ended
	May 04, 2024
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses consisted of the following: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 Gift cards $ 27,811 $ 31,662 $ 30,933 Accrued compensation and related expenses 36,645 19,342 19,645 Accrued taxes 25,923 23,134 23,122 Loyalty programs deferred revenue 14,948 15,971 16,632 Customer returns and allowances 21,521 19,569 22,219 Other 55,919 49,944 58,208 $ 182,767 $ 159,622 $ 170,759

Debt

Debt	3 Months Ended
	May 04, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 ABL Revolver $ 351,296 $ 301,070 $ 390,302 Term Loan 131,437 133,125 — Total debt 482,733 434,195 390,302 Less unamortized Term Loan debt issuance costs (6,655) (7,101) — Less current maturities of long-term debt (6,750) (6,750) — Long-term debt $ 469,328 $ 420,344 $ 390,302 On March 30, 2022, we replaced our previous senior secured asset-based revolving credit facility with our current ABL Revolver, which was subsequently amended on February 28, 2023 and June 23, 2023. The ABL Revolver provides a revolving line of credit of up to $600.0 million, including a Canadian sub-limit of up to $60.0 million, a $75.0 million sub-limit for the issuance of letters of credit, a $60.0 million sub-limit for swing-loan advances for U.S. borrowings, and a $6.0 million sub-limit for swing-loan advances for Canadian borrowings. In addition, the ABL Revolver includes a first-in last-out term loan ("FILO Term Loan") of up to $30.0 million, which was drawn in full on February 28, 2023. The FILO Term Loan may be repaid in full, but not in part, so long as certain payment conditions are satisfied. Once repaid, no portion of the FILO Term Loan may be reborrowed. Our 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 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 May 4, 2024, the revolving line of credit (excluding the FILO Term Loan) had a borrowing base of $514.0 million, with $321.3 million in outstanding borrowings and $4.9 million in letters of credit issued, resulting in $187.8 million available for borrowings. Borrowings under the revolving line of credit and letters of credit issued under the 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 in the credit facility agreement and subject to a floor of 0%) plus 0.5%, and (iii) Adjusted Term SOFR (as defined in the credit facility agreement) 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. The FILO Term Loan accrues interest, at our option, at a rate equal to: (A) a fluctuating interest rate per annum equal to the greatest of (i) the prime rate, (ii) the Fed Funds Rate plus 0.5%, or (iii) Adjusted Term SOFR plus 1.0%, plus 2.5%; or (B) Adjusted Term SOFR for the interest period in effect for such borrowing plus 3.5%. Commitment fees are based on the unused portion of the ABL Revolver available for borrowings. Interest expense related to the ABL Revolver includes interest on borrowings and letters of credit, with an interest rate o f 7.5% as of May 4, 2024, commitment fees, and the amortization of debt issuance costs. TERM LOAN On June 23, 2023, we entered into the Term Loan and have since borrowed the maximum aggregate amount of $135.0 million during 2023, consisting of a $121.5 million U.S. loan and a $13.5 million Canadian loan (denominated in USD). The Term Loan matures at the earliest of the date the ABL Revolver matures (currently March 2027) or five years from closing of the Term Loan (June 2028). The Term Loan is collateralized by a first priority lien on substantially all of our personal, real, and intellectual property and by a second priority lien on the assets used as collateral for the ABL revolver, primarily credit card receivables, accounts receivable, and inventory. Borrowings under the Term Loan bear interest at a per annum rate equal to: (A) an adjusted three-month SOFR per annum (subject to a floor of 2.0%), plus 7.0%; or if (A) is not available, then (B) a base rate per annum equal to the greater of (i) 2.0%, (ii) the prime rate, (iii) the Fed Funds Rate plus 0.5%, and (iv) the Adjusted Term SOFR plus 1.0%; plus, in each instance, 6.0%, with an interest rate of 12.4% (effective interest rate of 13.8% when including the amortization of debt issuance costs) as of May 4, 2024. DEBT COVENANTS The 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 $47.3 million or 10.0% of the maximum borrowing amount. At any time that liquidity is less than $100.0 million, the Term Loan requires a maximum consolidated net leverage ratio as of the last day of each fiscal month, calculated on a trailing twelve-month basis, of (1) 2.25 to 1.00 for any trailing twelve-month period through February 3, 2024, and (2) 2.50 to 1.00 thereafter. Testing of the consolidated net leverage ratio ends after liquidity has been greater than or equal to $100.0 million for a period of 45 consecutive days. The ABL Revolver and the Term Loan also contain customary covenants restricting certain activities, including limitations on our 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 ABL Revolver and the Term Loan contain 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, our 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 May 4, 2024, we were in compliance with all financial covenants contained in the ABL Revolver and the Term Loan.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 04, 2024
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 our 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.

Segment Reporting

Segment Reporting	3 Months Ended
	May 04, 2024
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING The following table provides certain financial da ta by segment reconciled to the condensed consolidated financial statements: (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Three months ended May 4, 2024 Net sales: External customer sales $ 621,367 $ 55,512 $ 69,717 $ — $ 746,596 Intersegment sales — — 34,413 (34,413) — Total net sales $ 621,367 $ 55,512 $ 104,130 $ (34,413) $ 746,596 Gross profit $ 198,455 $ 17,385 $ 33,477 $ (4,248) $ 245,069 Income from equity investments $ — $ — $ 2,864 $ — $ 2,864 Three months ended April 29, 2023 Net sales: External customer sales $ 612,886 $ 53,955 $ 75,241 $ — $ 742,082 Intersegment sales — — 17,742 (17,742) — Total net sales $ 612,886 $ 53,955 $ 92,983 $ (17,742) $ 742,082 Gross profit $ 196,814 $ 17,174 $ 22,085 $ 1,666 $ 237,739 Income from equity investments $ — $ — $ 2,331 $ — $ 2,331 Beginning in 2024, we changed how the Brand Portfolio segment sources certain Owned Brands for the U.S. Retail segment by transacting using a wholesale model, where intersegment sales and cost of sales are recorded, whereas in 2023 and prior we transacted on a commission model, where intersegment sales were based on a percentage of product cost. This change results in an increase in Brand Portfolio intersegment net sales, cost of sales, and gross profit and a corresponding increase in the amount of eliminated intersegment net sales, cost of sales, and gross profit with no impact to consolidated net sales and cost of sales.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Pay vs Performance Disclosure
Net income	$ 783	$ 11,415

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	May 04, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	RULE 10B5-1 TRADING PLANS During the three months ended May 4, 2024, none of our directors or executive officers adopted or terminated any contract, instruction, or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K).
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and S_2

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	May 04, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Year	Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year (e.g., "2024") 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 2024), 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 any 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 repor ting 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 customer returns and allowances, 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, redeemable noncontrolling interest, income taxes and valuation allowances on deferred tax assets, self-insurance reserves, and acquisitions. Although we believe that 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.
Chief Executive Officer Transition and Restructuring Costs	Chief Executive Officer Transition- In January 2023, we announced our succession process relating to the Company's Chief Executive Officer ("CEO") role, whereby our former CEO, Roger Rawlins, stepped down from his role as CEO and as a member of the Board of Directors (the "Board") effective April 1, 2023, at which time, Doug Howe, who previously served as Executive Vice President of the Company and President of DSW, assumed the CEO role and joined the Board. During the three months ended April 29, 2023, we recognized $2.2 million of CEO transition costs in operating expenses on the condensed consolidated statements of operations. There are no CEO transition costs for 2024. Severance- During the three months ended May 4, 2024 and April 29, 2023, we incurred severance costs of $2.4 million and $2.1 million, respectively. These costs are included in operating expenses in the condensed consolidated statements of operations. As of May 4, 2024, February 3, 2024, and April 29, 2023, we had $5.1 million, $3.9 million, and $4.7 million, respectively, of severance liability included in accrued expenses on the condensed consolidated balance sheets.
Income Taxes	Income Taxes- For the three months ended May 4, 2024 and April 29, 2023, our effective tax rate was 138.1% and 10.3%, respectively. The high effective tax rate for the three months ended May 4, 2024 was due to discrete tax benefits, primarily state tax planning initiatives and release of federal tax reserves no longer deemed necessary, that approximated the amount of loss before income taxes and the impact of permanent non-deductible compensation. The low effective tax rate for the three months ended April 29, 2023 was primarily due to net discrete tax benefits, including federal and state valuation allowance adjustments, partially offset by permanent non-deductible compensation.
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, receivables, and accounts payables approximated their fair values due to their short-term nature. The carrying value of borrowings under our ABL Revolver and our Term Loan approximated fair value based on the terms and variable interest rates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements- In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2023-07, Improvements to Reportable Segment Disclosures , which updates reportable segment disclosure requirements including, among other things, enhanced disclosures about significant segment expenses and information used to assess segment performance. ASU 2023-07 is effective on a retrospective basis to all prior periods presented beginning with our 2024 Annual Report on Form 10-K and subsequent interim periods. We are currently evaluating the impact of adopting ASU 2023-07 to the notes of the condensed consolidated financial statements.
Revenue Recognition	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 attributable to Designer Brands Inc. 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 converted into 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.
Share Repurchases	SHARE REPURCHASES On August 17, 2017, the Board authorized the repurchase of an additional $500.0 million of Class A common shar es under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. As of May 4, 2024, $87.7 million of Class A common shares remained available for repurchase under the share repurchase program. The share repurchase program may be suspended, modified, or discontinued at any time, and we have no obligation to repurchase any amount of our Class A common shares under the program. Under the share repurchase program, shares will be repurchased in the open market at times and in amounts considered appropriate based on price and market conditions.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	May 04, 2024
Business Combination and Asset Acquisition [Abstract]
Allocation of Consideration	The final purchase price and the allocation of the total consideration to the fair values of the assets and liabilities was finalized as of February 3, 2024, and consisted of the following: (in thousands) Final Purchase Price and Allocation Purchase price: Cash Consideration $ 127,304 Due from Seller for estimated contingent consideration (8,899) $ 118,405 Fair value of assets and liabilities acquired: Inventories $ 42,516 Goodwill 25,776 Intangible assets 53,500 Accounts payable (3,387) $ 118,405 The preliminary purchase price and the allocation of the total consideration to the fair values of the assets and liabilities consisted of the following: (in thousands) Preliminary Purchase Price and Allocation as of April 8, 2024 Purchase Price: Cash consideration $ 16,674 Contingent consideration 1,472 $ 18,146 Fair value of assets and liabilities acquired: Inventories $ 6,967 Operating lease assets 9,334 Goodwill 9,972 Intangible assets 3,166 Other assets 2,273 Accounts payable and other current liabilities (4,232) Operating lease liabilities (9,334) $ 18,146

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	May 04, 2024
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 (2) Brand Portfolio Eliminations Consolidated Three months ended May 4, 2024 Owned Brands: (1) Direct-to-consumer $ 105,014 $ 8,360 $ 13,930 $ — $ 127,304 External customer wholesale, commission income, and other — — 55,787 — 55,787 Intersegment wholesale — — 34,413 (34,413) — Total Owned Brands 105,014 8,360 104,130 (34,413) 183,091 National brands 516,353 47,152 — — 563,505 Total net sales $ 621,367 $ 55,512 $ 104,130 $ (34,413) $ 746,596 Three months ended April 29, 2023 Owned Brands: (1) Direct-to-consumer $ 123,209 $ 7,872 $ 10,624 $ — $ 141,705 External customer wholesale, commission income, and other — — 64,617 — 64,617 Intersegment wholesale and commission income — — 17,742 (17,742) — Total Owned Brands 123,209 7,872 92,983 (17,742) 206,322 National brands 489,677 46,083 — — 535,760 Total net sales $ 612,886 $ 53,955 $ 92,983 $ (17,742) $ 742,082 (1) "Owned Brands" refers to those brands that we have rights to sell through ownership or license arrangements. (2) Beginning with the 2023 Form 10-K, we are providing a breakout of Canada Retail segment net sales by brand categories and we have recast the three months ended April 29, 2023 on a consistent basis. Net Sales by Product and Service Categories - The following table presents net sales disaggregated by product and service categories for each segment: Three months ended (in thousands) May 4, 2024 April 29, 2023 Net sales: U.S. Retail segment: Women's footwear $ 408,773 $ 407,193 Men's footwear 129,360 128,833 Kids' footwear 50,230 44,294 Accessories and other 33,004 32,566 621,367 612,886 Canada Retail segment: Women's footwear 30,859 30,514 Men's footwear 14,118 13,866 Kids' footwear 8,561 7,544 Accessories and other 1,974 2,031 55,512 53,955 Three months ended (in thousands) May 4, 2024 April 29, 2023 Brand Portfolio segment: Wholesale 88,670 80,784 Direct-to consumer 13,930 10,624 Commission income and other 1,530 1,575 104,130 92,983 Total segment net sales 781,009 759,824 Elimination of intersegment sales (34,413) (17,742) Total net sales $ 746,596 $ 742,082 During the three months ended October 28, 2023, we identified an error in the classification of certain net sales categories for the U.S. Retail segment in the Net Sales by Product and Service Categories table within Note 3, Revenue , of our condensed consolidated financial statements for the Quarterly Reports on Forms 10-Q for the first and second quarters of 2023. The above table for the three months ended April 29, 2023 has been corrected to reflect the reduction of $8.3 million of U.S. Retail segment net sales from accessories and other and increases of $4.0 million and $4.3 million of U.S. Retail segment net sales to women’s footwear and men’s footwear, respectively, representing the impact of the error for the first quarter of 2023. This immaterial correction did not impact the condensed consolidated statements of operations, comprehensive income (loss), or balance sheets.
Contract with Customer, Asset and Liability	The following table presents the changes and total balances for gift cards and loyalty programs: Three months ended (in thousands) May 4, 2024 April 29, 2023 Gift cards: Beginning of period $ 31,662 $ 35,121 Gift cards redeemed and breakage recognized to net sales (17,265) (16,449) Gift cards issued 13,414 12,261 End of period $ 27,811 $ 30,933 Loyalty programs: Beginning of period $ 15,971 $ 16,900 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (8,190) (7,592) Deferred revenue for loyalty points issued 7,167 7,324 End of period $ 14,948 $ 16,632

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	May 04, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following is a reconciliation between basic and diluted weighted average shares outstanding, as used in the calculation of earnings per share attributable to Designer Brands Inc.: Three months ended (in thousands) May 4, 2024 April 29, 2023 Weighted average basic shares outstanding 57,464 64,371 Dilutive effect of stock-based compensation awards 2,006 2,671 Weighted average diluted shares outstanding 59,470 67,042

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	May 04, 2024
Share-Based Payment Arrangement [Abstract]
Restricted Stock Unit Activity	The following table summarizes the stock-based compensation award share activity for RSUs for the three months ended May 4, 2024: (in thousands) Shares of Time-Based RSUs Shares of Performance-Based RSUs Outstanding - beginning of period 4,383 1,236 Granted 1,750 729 Vested (588) (284) Forfeited (158) (692) Outstanding - end of period 5,387 989

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	May 04, 2024
Shareholders' Equity [Abstract]
Schedule of Stock by Class	The following table provides additional information for our common shares: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 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 92,620 7,733 92,051 7,733 90,860 7,733 Outstanding shares 50,060 7,733 49,491 7,733 57,978 7,733 Treasury shares 42,560 — 42,560 — 32,882 —

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	May 04, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Receivables, net, consisted of the following: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 Customer accounts receivables: Receivables with payment guarantee by third-party provider $ 33,388 $ 18,615 $ 35,132 Receivables without payment guarantee 7,956 7,890 12,785 Income tax receivable 44,990 44,476 42,018 Other receivables 10,863 13,093 10,763 Total receivables 97,197 84,074 100,698 Allowance for doubtful accounts (485) (484) (461) $ 96,712 $ 83,590 $ 100,237

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	May 04, 2024
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 Gift cards $ 27,811 $ 31,662 $ 30,933 Accrued compensation and related expenses 36,645 19,342 19,645 Accrued taxes 25,923 23,134 23,122 Loyalty programs deferred revenue 14,948 15,971 16,632 Customer returns and allowances 21,521 19,569 22,219 Other 55,919 49,944 58,208 $ 182,767 $ 159,622 $ 170,759

Debt (Tables)

Debt (Tables)	3 Months Ended
	May 04, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: (in thousands) May 4, 2024 February 3, 2024 April 29, 2023 ABL Revolver $ 351,296 $ 301,070 $ 390,302 Term Loan 131,437 133,125 — Total debt 482,733 434,195 390,302 Less unamortized Term Loan debt issuance costs (6,655) (7,101) — Less current maturities of long-term debt (6,750) (6,750) — Long-term debt $ 469,328 $ 420,344 $ 390,302

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	May 04, 2024
Segment Reporting [Abstract]
Segment Information	The following table provides certain financial da ta by segment reconciled to the condensed consolidated financial statements: (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Three months ended May 4, 2024 Net sales: External customer sales $ 621,367 $ 55,512 $ 69,717 $ — $ 746,596 Intersegment sales — — 34,413 (34,413) — Total net sales $ 621,367 $ 55,512 $ 104,130 $ (34,413) $ 746,596 Gross profit $ 198,455 $ 17,385 $ 33,477 $ (4,248) $ 245,069 Income from equity investments $ — $ — $ 2,864 $ — $ 2,864 Three months ended April 29, 2023 Net sales: External customer sales $ 612,886 $ 53,955 $ 75,241 $ — $ 742,082 Intersegment sales — — 17,742 (17,742) — Total net sales $ 612,886 $ 53,955 $ 92,983 $ (17,742) $ 742,082 Gross profit $ 196,814 $ 17,174 $ 22,085 $ 1,666 $ 237,739 Income from equity investments $ — $ — $ 2,331 $ — $ 2,331

Description of Business and S_3

Description of Business and Significant Accounting Policies - Narrative (Details) $ in Millions	3 Months Ended
	May 04, 2024 USD ($) segment	Apr. 29, 2023 USD ($)	Feb. 03, 2024 USD ($)	Jul. 31, 2022
Entity Information [Line Items]
Number of reportable segments | segment	3
Restructuring charges, cumulative	$ 0	$ 2.2
Severance costs	2.4	2.1
Severance liability	$ 5.1	$ 4.7	$ 3.9
Effective tax rate	138.10%	10.30%
Le Tigre
Entity Information [Line Items]
Ownership percentage	33.30%			33.30%
Designer Brands Inc. | ABG-Camuto, LLC
Entity Information [Line Items]
Noncontrolling interest, ownership percentage by parent	40%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Apr. 08, 2024	Feb. 04, 2023	Feb. 03, 2024
Keds
Business Acquisition [Line Items]
Indefinite lived intangible assets		$ 46,900
Finite lived intangible assets		$ 6,600
Cash Consideration			$ 127,304
Keds | Customer relationships
Business Acquisition [Line Items]
Intangible assets useful life		10 years
Rubino
Business Acquisition [Line Items]
Cash Consideration	$ 16,674
Contingent consideration	$ 1,472

Acquisitions - Allocation of Co

Acquisitions - Allocation of Consideration (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 08, 2024	Feb. 03, 2024	May 04, 2024	Apr. 29, 2023
Fair value of assets and liabilities acquired:
Goodwill		$ 123,759	$ 133,666	$ 134,770
Keds
Business Acquisition [Line Items]
Cash Consideration		127,304
Due from Seller for estimated contingent consideration		(8,899)
Total consideration transferred		118,405
Fair value of assets and liabilities acquired:
Inventories		42,516
Goodwill		25,776
Intangible assets		53,500
Accounts payable		(3,387)
Fair value of assets and liabilities acquired		$ 118,405
Rubino
Business Acquisition [Line Items]
Cash Consideration	$ 16,674
Contingent consideration	1,472
Total consideration transferred	18,146
Fair value of assets and liabilities acquired:
Inventories	6,967
Operating lease assets	9,334
Goodwill	9,972
Intangible assets	3,166
Other assets	2,273
Accounts payable and other current liabilities	(4,232)
Operating lease liabilities	(9,334)
Fair value of assets and liabilities acquired	$ 18,146

Revenue - by Brand Categories (

Revenue - by Brand Categories (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 746,596	$ 742,082
Eliminations
Disaggregation of Revenue [Line Items]
Total net sales	(34,413)	(17,742)
U.S. Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	621,367	612,886
Canada Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	55,512	53,955
Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	104,130	92,983
Owned Brands
Disaggregation of Revenue [Line Items]
Total net sales	183,091	206,322
Owned Brands | Eliminations
Disaggregation of Revenue [Line Items]
Total net sales	(34,413)	(17,742)
Owned Brands | U.S. Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	105,014	123,209
Owned Brands | Canada Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	8,360	7,872
Owned Brands | Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	104,130	92,983
Owned Brands | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Total net sales	127,304	141,705
Owned Brands | Direct-to-consumer | U.S. Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	105,014	123,209
Owned Brands | Direct-to-consumer | Canada Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	8,360	7,872
Owned Brands | Direct-to-consumer | Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	13,930	10,624
Owned Brands | External customer wholesale and commission income
Disaggregation of Revenue [Line Items]
Total net sales	55,787	64,617
Owned Brands | External customer wholesale and commission income | U.S. Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	0	0
Owned Brands | External customer wholesale and commission income | Canada Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	0	0
Owned Brands | External customer wholesale and commission income | Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	55,787	64,617
Owned Brands | Intersegment wholesale and commission income | Eliminations
Disaggregation of Revenue [Line Items]
Total net sales	(34,413)	(17,742)
Owned Brands | Intersegment wholesale and commission income | Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	34,413	17,742
National Brands
Disaggregation of Revenue [Line Items]
Total net sales	563,505	535,760
National Brands | U.S. Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	516,353	489,677
National Brands | Canada Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	47,152	46,083
National Brands | Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	$ 0	$ 0

Revenue - Disaggregation of Net

Revenue - Disaggregation of Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 746,596	$ 742,082
Eliminations
Disaggregation of Revenue [Line Items]
Total net sales	(34,413)	(17,742)
Product
Disaggregation of Revenue [Line Items]
Total net sales	746,596	742,082
Product | Segments
Disaggregation of Revenue [Line Items]
Total net sales	781,009	759,824
U.S. Retail Segment | Segments
Disaggregation of Revenue [Line Items]
Total net sales	621,367	612,886
U.S. Retail Segment | Women's footwear | Segments
Disaggregation of Revenue [Line Items]
Total net sales	408,773	407,193
U.S. Retail Segment | Women's footwear | Segments | Revision of prior period, error correction
Disaggregation of Revenue [Line Items]
Total net sales		4,000
U.S. Retail Segment | Men's footwear | Segments
Disaggregation of Revenue [Line Items]
Total net sales	129,360	128,833
U.S. Retail Segment | Men's footwear | Segments | Revision of prior period, error correction
Disaggregation of Revenue [Line Items]
Total net sales		4,300
U.S. Retail Segment | Kids' footwear | Segments
Disaggregation of Revenue [Line Items]
Total net sales	50,230	44,294
U.S. Retail Segment | Accessories and other | Segments
Disaggregation of Revenue [Line Items]
Total net sales	33,004	32,566
U.S. Retail Segment | Accessories and other | Segments | Revision of prior period, error correction
Disaggregation of Revenue [Line Items]
Total net sales		(8,300)
Canada Retail | Segments
Disaggregation of Revenue [Line Items]
Total net sales	55,512	53,955
Canada Retail | Women's footwear | Segments
Disaggregation of Revenue [Line Items]
Total net sales	30,859	30,514
Canada Retail | Men's footwear | Segments
Disaggregation of Revenue [Line Items]
Total net sales	14,118	13,866
Canada Retail | Kids' footwear | Segments
Disaggregation of Revenue [Line Items]
Total net sales	8,561	7,544
Canada Retail | Accessories and other | Segments
Disaggregation of Revenue [Line Items]
Total net sales	1,974	2,031
Canada Retail | Product | Segments
Disaggregation of Revenue [Line Items]
Total net sales	55,512	53,955
Brand Portfolio | Segments
Disaggregation of Revenue [Line Items]
Total net sales	104,130	92,983
Brand Portfolio | Eliminations
Disaggregation of Revenue [Line Items]
Total net sales	34,413	17,742
Brand Portfolio | Wholesale | Segments
Disaggregation of Revenue [Line Items]
Total net sales	88,670	80,784
Brand Portfolio | Commission income | Segments
Disaggregation of Revenue [Line Items]
Total net sales	1,530	1,575
Brand Portfolio | Direct-to-consumer | Segments
Disaggregation of Revenue [Line Items]
Total net sales	13,930	10,624
Brand Portfolio | Product | Segments
Disaggregation of Revenue [Line Items]
Total net sales	$ 69,717	$ 75,241

Revenue - Deferred Revenue Liab

Revenue - Deferred Revenue Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Contract With Customer Liability [Roll Forward]
Gift cards and merchandise credits, beginning balance	$ 31,662	$ 35,121
Gift cards and merchandise credits, ending balance	27,811	30,933
Loyalty programs deferred revenue, beginning balance	15,971	16,900
Loyalty programs deferred revenue, ending balance	14,948	16,632
Loyalty certificates redeemed and expired and other adjustments recognized to net sales
Contract With Customer Liability [Roll Forward]
Increase (decrease) in contract with customer, liability	(8,190)	(7,592)
Deferred revenue for loyalty points issued
Contract With Customer Liability [Roll Forward]
Increase (decrease) in contract with customer, liability	7,167	7,324
Gift cards redeemed and breakage recognized to net sales
Contract With Customer Liability [Roll Forward]
Increase (decrease) in contract with customer, liability	(17,265)	(16,449)
Gift cards issued
Contract With Customer Liability [Roll Forward]
Increase (decrease) in contract with customer, liability	$ 13,414	$ 12,261

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	May 04, 2024	Apr. 29, 2023	Feb. 03, 2024	Jul. 31, 2022
Related Party Transaction [Line Items]
Outstanding common shares owned (in hundredths)	25%
Combined voting power of outstanding common shares (in hundredths)	61%
Current operating lease liabilities	$ 161,050	$ 183,074	$ 166,531
Non-current operating lease liabilities	657,625	635,245	646,161
Related Party
Related Party Transaction [Line Items]
Current operating lease liabilities	4,000	5,200	5,600
Non-current operating lease liabilities	18,900	13,000	$ 18,500
Related Party
Related Party Transaction [Line Items]
Lease expense	$ 2,000	1,900
Class A Common Shares
Related Party Transaction [Line Items]
Number of common shares owned by related party (in shares)	7
Class B Common Shares
Related Party Transaction [Line Items]
Number of common shares owned by related party (in shares)	7.7
Affiliated Entity
Related Party Transaction [Line Items]
Royalty expense	$ 4,800	4,500
Affiliated Entity | Schottenstein Affiliates
Related Party Transaction [Line Items]
Other purchases and services	$ 600	$ 600
Le Tigre
Related Party Transaction [Line Items]
Ownership percentage	33.30%			33.30%
Designer Brands Inc. | ABG-Camuto, LLC
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by parent	40%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Earnings Per Share [Abstract]
Basic shares	57,464	64,371
Weighted average basic shares outstanding	2,006	2,671
Diluted shares	59,470	67,042

Earnings Per Share - Anti-Dilut

Earnings Per Share - Anti-Dilutive Securities (Details) - shares shares in Millions	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2.8	4.5

Stock-based Compensation - Expe

Stock-based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,600	$ 11,700

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Units (Details) shares in Thousands	3 Months Ended
	May 04, 2024 shares
Time-Based Restricted Stock Units
Equity instruments other than options [Roll forward]
Outstanding, beginning of period (in units)	4,383
Granted (in units)	1,750
Vested (in units)	(588)
Forfeited (in units)	(158)
Outstanding, end of period (in units)	5,387
Performance Shares
Equity instruments other than options [Roll forward]
Outstanding, beginning of period (in units)	1,236
Granted (in units)	729
Vested (in units)	(284)
Forfeited (in units)	(692)
Outstanding, end of period (in units)	989

Shareholders' Equity (Details)

Shareholders' Equity (Details) $ / shares in Units, $ in Millions	May 15, 2024 $ / shares	May 04, 2024 USD ($) $ / shares shares	Feb. 03, 2024 shares	Apr. 29, 2023 shares	Aug. 17, 2017 USD ($)
Class of Stock [Line Items]
Preferred Stock, Shares Authorized		100,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares		$ 0
Preferred Stock, Shares Issued		0
Subsequent Event
Class of Stock [Line Items]
Dividend declared (in dollars per share) | $ / shares	$ 0.05
Class A Common Shares
Class of Stock [Line Items]
Common Stock, Voting Rights, Number Of Votes | $ / shares		1
Common Stock, Shares Authorized		250,000,000	250,000,000	250,000,000
Common Stock, Shares, Issued		92,620,000	92,051,000	90,860,000
Common Shares, outstanding (in shares)		50,060,000	49,491,000	57,978,000
Treasury Stock, Common, Shares		42,560,000	42,560,000	32,882,000
Authorized repurchase amount | $					$ 500
Remaining authorized repurchase amount | $		$ 87.7			$ 33.5
Class B Common Shares
Class of Stock [Line Items]
Common Stock, Voting Rights, Number Of Votes | $ / shares		8
Common Stock, Shares Authorized		100,000,000	100,000,000	100,000,000
Common Stock, Shares, Issued		7,733,000	7,733,000	7,733,000
Common Shares, outstanding (in shares)		7,733,000	7,733,000	7,733,000
Treasury Stock, Common, Shares		0	0	0

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024	Apr. 29, 2023
Receivables [Abstract]
Receivables with payment guarantee by third-party provider	$ 33,388	$ 18,615	$ 35,132
Receivables without payment guarantee	7,956	7,890	12,785
Income tax receivable	44,990	44,476	42,018
Other receivables	10,863	13,093	10,763
Total receivables	97,197	84,074	100,698
Allowance for doubtful accounts	(485)	(484)	(461)
Receivables, net	$ 96,712	$ 83,590	$ 100,237

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024	Apr. 29, 2023	Jan. 28, 2023
Payables and Accruals [Abstract]
Gift cards	$ 27,811	$ 31,662	$ 30,933	$ 35,121
Accrued compensation and related expenses	36,645	19,342	19,645
Accrued taxes	25,923	23,134	23,122
Loyalty programs deferred revenue	14,948	15,971	16,632	$ 16,900
Customer returns and allowances	21,521	19,569	22,219
Other	55,919	49,944	58,208
Total accrued expenses	$ 182,767	$ 159,622	$ 170,759

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024	Apr. 29, 2023
Debt Instrument [Line Items]
Total debt	$ 482,733	$ 434,195	$ 390,302
Less unamortized Term Loan debt issuance costs	(6,655)	(7,101)	0
Less current maturities of long-term debt	(6,750)	(6,750)	0
Long-term debt	469,328	420,344	390,302
Line of Credit | Revolving Credit Facility and Swing Loan | ABL Revolver
Debt Instrument [Line Items]
Total debt	351,296	301,070	390,302
Term Loan | Term Loan
Debt Instrument [Line Items]
Total debt	$ 131,437	$ 133,125	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands		3 Months Ended
	Jun. 23, 2023 USD ($)	May 04, 2024 USD ($)	Feb. 03, 2024 USD ($)	Apr. 29, 2023 USD ($)	Feb. 28, 2023 USD ($)
Debt Instrument [Line Items]
Total debt		$ 482,733	$ 434,195	$ 390,302
Term Loan | Term Loan
Debt Instrument [Line Items]
Debt face amount	$ 135,000
Total debt		$ 131,437	$ 133,125	$ 0
Debt term	5 years
Interest rate	12.40%
Effective interest rate	13.80%
Interest Rate Scenario One | Term Loan | Term Loan
Debt Instrument [Line Items]
Interest rate floor	2%
Interest Rate Scenario Two | Term Loan | Term Loan
Debt Instrument [Line Items]
Interest rate base	6%
Secured Overnight Financing Rate (SOFR) | Interest Rate Scenario One | Term Loan | Term Loan
Debt Instrument [Line Items]
Spread on variable interest rate	7%
Secured Overnight Financing Rate (SOFR) | Interest Rate Scenario Two | Term Loan | Term Loan
Debt Instrument [Line Items]
Spread on variable interest rate	1%
Base Rate | Interest Rate Scenario Two | Term Loan | Term Loan
Debt Instrument [Line Items]
Spread on variable interest rate	2%
Overnight Bank Funding Rate | Interest Rate Scenario Two | Term Loan | Term Loan
Debt Instrument [Line Items]
Spread on variable interest rate	0.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio		1
Revolving Credit Facility | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Credit Facility, maximum capacity					$ 600,000
Current borrowing base		$ 514,000
Total debt		321,300
Letters of credit		4,900
Availability for borrowings		$ 187,800
Spread on variable interest rate		7.50%
Availability covenant, minimum amount		$ 47,300
Availability covenant, minimum percentage		10%
Liquidity covenant		$ 100,000
Revolving Credit Facility | ABL Revolver | Line of Credit | Debt Covenant Period One
Debt Instrument [Line Items]
Consolidated net leverage ratio		2.25
Revolving Credit Facility | ABL Revolver | Line of Credit | Debt Covenant Period Two
Debt Instrument [Line Items]
Consolidated net leverage ratio		2.50
Revolving Credit Facility | Federal Funds Rate | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		0.50%
Revolving Credit Facility | Federal Funds Rate | Interest Rate Floor | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		0%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		1%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Interest Rate Floor | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		0%
Revolving Credit Facility | Foreign | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Credit Facility, maximum capacity					60,000
Letter of Credit | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Credit Facility, maximum capacity					75,000
Domestic Line of Credit | Term Loan | Term Loan
Debt Instrument [Line Items]
Debt face amount	$ 121,500
Domestic Line of Credit | United States | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Credit Facility, maximum capacity					60,000
Foreign Line of Credit | Term Loan | Term Loan
Debt Instrument [Line Items]
Debt face amount	$ 13,500
Foreign Line of Credit | Non-US | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Credit Facility, maximum capacity					6,000
Term Loan | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Debt face amount					$ 30,000
Term Loan | Federal Funds Rate | Interest Rate Scenario One | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		0.50%
Term Loan | Secured Overnight Financing Rate (SOFR) | Interest Rate Scenario One | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		1%
Additional spread on variable interest rate		2.50%
Term Loan | Secured Overnight Financing Rate (SOFR) | Interest Rate Scenario Two | ABL Revolver | Line of Credit
Debt Instrument [Line Items]
Spread on variable interest rate		3.50%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	May 04, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future payments for guarantees	$ 3.7

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Segment information [Abstract]
Net sales	$ 746,596	$ 742,082
Gross profit	245,069	237,739
Income from equity investments	2,864	2,331
Product
Segment information [Abstract]
Net sales	746,596	742,082
Segments | U.S. Retail
Segment information [Abstract]
Net sales	621,367	612,886
Gross profit	198,455	196,814
Income from equity investments	0	0
Segments | Canada Retail
Segment information [Abstract]
Net sales	55,512	53,955
Gross profit	17,385	17,174
Income from equity investments	0	0
Segments | Brand Portfolio
Segment information [Abstract]
Net sales	104,130	92,983
Gross profit	33,477	22,085
Income from equity investments	2,864	2,331
Segments | Product
Segment information [Abstract]
Net sales	781,009	759,824
Segments | Product | U.S. Retail
Segment information [Abstract]
Net sales	621,367	612,886
Segments | Product | Canada Retail
Segment information [Abstract]
Net sales	55,512	53,955
Segments | Product | Brand Portfolio
Segment information [Abstract]
Net sales	69,717	75,241
Eliminations
Segment information [Abstract]
Net sales	(34,413)	(17,742)
Gross profit	(4,248)	1,666
Eliminations | Brand Portfolio
Segment information [Abstract]
Net sales	$ 34,413	$ 17,742