Cover Page
| Cover Page - shares | 6 Months Ended | |
| Aug. 03, 2024 | Sep. 04, 2024 | |
| Class of Stock [Line Items] | ||
| Document Type | 10-Q | |
| Document Quarterly Report | true | |
| Document Period End Date | Aug. 03, 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 | Q2 | |
| Amendment Flag | false | |
| Class A Common Shares | ||
| Class of Stock [Line Items] | ||
| Entity Common Stock, Shares Outstanding | 47,766,748 | |
| 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 | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Net sales | $ 771,900 | $ 792,217 | $ 1,518,496 | $ 1,534,299 |
| Gross profit | 252,914 | 273,387 | 497,983 | 511,126 |
| Operating expenses | (226,896) | (214,530) | (465,447) | (434,649) |
| Income from equity investments | 2,571 | 2,138 | 5,435 | 4,469 |
| Impairment charges | 0 | (308) | 0 | (649) |
| Operating profit | 28,589 | 60,687 | 37,971 | 80,297 |
| Interest expense, net | (11,035) | (6,932) | (22,596) | (13,529) |
| Non-operating income (expenses), net | (109) | 579 | (252) | 245 |
| Income before income taxes | 17,445 | 54,334 | 15,123 | 67,013 |
| Income tax provision | (3,363) | (17,079) | (156) | (18,385) |
| Net income | 14,082 | 37,255 | 14,967 | 48,628 |
| Net income attributable to redeemable noncontrolling interest | (258) | (51) | (360) | (9) |
| Net income attributable to Designer Brands Inc. | $ 13,824 | $ 37,204 | $ 14,607 | $ 48,619 |
| Earnings per share attributable to Designer Brands Inc.: | ||||
| Basic earnings per share | $ 0.24 | $ 0.57 | $ 0.25 | $ 0.75 |
| Diluted earnings per share | $ 0.24 | $ 0.56 | $ 0.25 | $ 0.73 |
| Weighted average shares used in per share calculations: | ||||
| Basic shares | 57,162 | 65,576 | 57,313 | 64,973 |
| Diluted shares | 58,576 | 66,997 | 58,978 | 66,863 |
| Product | ||||
| Net sales | $ 771,900 | $ 792,217 | $ 1,518,496 | $ 1,534,299 |
| Cost of sales | $ (518,986) | $ (518,830) | $ (1,020,513) | $ (1,023,173) |
Condensed Consolidated Statem_2
| Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract] | ||||
| Net income | $ 14,082 | $ 37,255 | $ 14,967 | $ 48,628 |
| Other comprehensive income (loss)- | ||||
| Foreign currency translation gain (loss) | (977) | 1,277 | (1,880) | 460 |
| Comprehensive income | 13,105 | 38,532 | 13,087 | 49,088 |
| Comprehensive income attributable to redeemable noncontrolling interest | (258) | (51) | (360) | (9) |
| Comprehensive income attributable to Designer Brands Inc. | $ 12,847 | $ 38,481 | $ 12,727 | $ 49,079 |
Condensed Consolidated Balance
| Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 03, 2024 | Feb. 03, 2024 | Jul. 29, 2023 |
| ASSETS | |||
| Cash and cash equivalents | $ 38,834 | $ 49,173 | $ 46,187 |
| Receivables, net | 49,671 | 83,590 | 97,364 |
| Inventories | 642,783 | 571,331 | 606,841 |
| Prepaid expenses and other current assets | 66,760 | 73,338 | 50,308 |
| Total current assets | 798,048 | 777,432 | 800,700 |
| Property and equipment, net | 216,313 | 219,939 | 226,634 |
| Operating lease assets | 723,818 | 721,335 | 751,637 |
| Goodwill | 130,611 | 123,759 | 135,259 |
| Intangible assets, net | 86,334 | 82,827 | 72,640 |
| Deferred tax assets | 39,997 | 39,067 | 48,100 |
| Equity investments | 61,020 | 62,857 | 62,938 |
| Other assets | 50,993 | 49,016 | 49,430 |
| Total assets | 2,107,134 | 2,076,232 | 2,147,338 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND SHAREHOLDERS' EQUITY | |||
| Accounts payable | 294,739 | 289,368 | 294,724 |
| Accrued expenses | 161,155 | 159,622 | 172,130 |
| Current maturities of long-term debt | 6,750 | 6,750 | 2,500 |
| Current operating lease liabilities | 156,394 | 166,531 | 181,484 |
| Total current liabilities | 619,038 | 622,271 | 650,838 |
| Long-term debt | 458,974 | 420,344 | 328,506 |
| Non-current operating lease liabilities | 653,416 | 646,161 | 682,248 |
| Other non-current liabilities | 16,642 | 24,948 | 22,784 |
| Total liabilities | 1,748,070 | 1,713,724 | 1,684,376 |
| Commitments and contingencies | |||
| Redeemable noncontrolling interest | 3,519 | 3,288 | 3,144 |
| Shareholders' equity: | |||
| Common shares paid in-capital, no par value | 1,038,061 | 1,030,765 | 1,025,662 |
| Treasury shares, at cost | (782,771) | (764,802) | (685,048) |
| Retained earnings | 107,774 | 98,896 | 124,094 |
| Accumulated other comprehensive loss | (7,519) | (5,639) | (4,890) |
| Total shareholders' equity | 355,545 | 359,220 | 459,818 |
| Total liabilities, redeemable noncontrolling interest, and shareholders' equity | $ 2,107,134 | $ 2,076,232 | $ 2,147,338 |
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 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 | 48,619 | 48,619 | |||||||||
| Stock-based compensation activity (in shares) | 2,335 | ||||||||||
| Stock-based compensation activity | 6,790 | 6,790 | |||||||||
| Repurchase of Class A common shares (in shares) | (2,113) | ||||||||||
| Repurchase of Class A common shares (in shares) | 2,113 | ||||||||||
| Repurchase of Class A common shares | (22,434) | (22,434) | |||||||||
| Dividends paid | (6,518) | 0 | (6,518) | ||||||||
| Foreign currency translation gain (loss) | 460 | 460 | |||||||||
| Common Shares, Outstanding, Ending Balance (in shares) at Jul. 29, 2023 | 56,143 | 56,143 | 7,733 | 7,733 | 34,995 | ||||||
| Ending Balance at Jul. 29, 2023 | 459,818 | (685,048) | 1,025,662 | 124,094 | (4,890) | ||||||
| Common Shares, Outstanding, Beginning Balance (in shares) at Apr. 29, 2023 | 57,978 | 7,733 | 32,882 | ||||||||
| Beginning Balance at Apr. 29, 2023 | 440,154 | (662,614) | 1,018,773 | 90,162 | (6,167) | ||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
| Net income | 37,204 | 37,204 | |||||||||
| Stock-based compensation activity (in shares) | 278 | ||||||||||
| Stock-based compensation activity | 6,889 | 6,889 | |||||||||
| Repurchase of Class A common shares (in shares) | (2,113) | ||||||||||
| Repurchase of Class A common shares (in shares) | 2,113 | ||||||||||
| Repurchase of Class A common shares | (22,434) | (22,434) | |||||||||
| Dividends paid | (3,272) | 0 | (3,272) | ||||||||
| Foreign currency translation gain (loss) | 1,277 | 1,277 | |||||||||
| Common Shares, Outstanding, Ending Balance (in shares) at Jul. 29, 2023 | 56,143 | 56,143 | 7,733 | 7,733 | 34,995 | ||||||
| Ending Balance at Jul. 29, 2023 | 459,818 | (685,048) | 1,025,662 | 124,094 | (4,890) | ||||||
| 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 | 14,607 | 14,607 | |||||||||
| Stock-based compensation activity (in shares) | 931 | ||||||||||
| Stock-based compensation activity | 7,296 | 7,296 | |||||||||
| Repurchase of Class A common shares (in shares) | (2,665) | ||||||||||
| Repurchase of Class A common shares (in shares) | 2,700 | 2,665 | |||||||||
| Repurchase of Class A common shares | (17,969) | (17,969) | |||||||||
| Dividends paid | (5,729) | 0 | (5,729) | ||||||||
| Foreign currency translation gain (loss) | (1,880) | (1,880) | |||||||||
| Common Shares, Outstanding, Ending Balance (in shares) at Aug. 03, 2024 | 47,757 | 47,757 | 7,733 | 7,733 | 45,225 | ||||||
| Ending Balance at Aug. 03, 2024 | 355,545 | (782,771) | 1,038,061 | 107,774 | (7,519) | ||||||
| Common Shares, Outstanding, Beginning Balance (in shares) at May. 04, 2024 | 50,060 | 7,733 | 42,560 | ||||||||
| Beginning Balance at May. 04, 2024 | 358,472 | (764,802) | 1,032,998 | 96,818 | (6,542) | ||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
| Net income | 13,824 | 13,824 | |||||||||
| Stock-based compensation activity (in shares) | 362 | ||||||||||
| Stock-based compensation activity | 5,063 | 5,063 | |||||||||
| Repurchase of Class A common shares (in shares) | (2,665) | ||||||||||
| Repurchase of Class A common shares (in shares) | 2,665 | ||||||||||
| Repurchase of Class A common shares | (17,969) | (17,969) | |||||||||
| Dividends paid | (2,868) | 0 | (2,868) | ||||||||
| Foreign currency translation gain (loss) | (977) | (977) | |||||||||
| Common Shares, Outstanding, Ending Balance (in shares) at Aug. 03, 2024 | 47,757 | 47,757 | 7,733 | 7,733 | 45,225 | ||||||
| Ending Balance at Aug. 03, 2024 | $ 355,545 | $ (782,771) | $ 1,038,061 | $ 107,774 | $ (7,519) |
Condensed Consolidated Statem_4
| Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Statement of Stockholders' Equity [Abstract] | ||||
| Dividends per share (in dollars per share) | $ 0.05 | $ 0.05 | $ 0.10 | $ 0.10 |
Condensed Consolidated Statem_5
| Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
| Aug. 03, 2024 | Jul. 29, 2023 | |
| Cash flows from operating activities: | ||
| Net income | $ 14,967 | $ 48,628 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 32,827 | 33,134 |
| Stock-based compensation expense | 11,419 | 19,029 |
| Deferred income taxes | (999) | 221 |
| Income from equity investments | (5,435) | (4,469) |
| Distributions received from equity investments | 7,272 | 5,351 |
| Impairment charges | 0 | 649 |
| Other | 703 | (1,337) |
| Change in operating assets and liabilities, net of acquired amounts: | ||
| Accounts receivables | (14,663) | (12,400) |
| Income tax receivable | 44,476 | 1,533 |
| Inventories | (65,812) | 41,788 |
| Prepaid expenses and other current assets | 5,619 | (8,220) |
| Accounts payable | 3,883 | 37,647 |
| Accrued expenses | (7,247) | (18,135) |
| Operating lease assets and liabilities, net | (5,112) | (9,048) |
| Net cash provided by operating activities | 21,898 | 134,371 |
| Cash flows from investing activities: | ||
| Cash paid for property and equipment | (29,481) | (25,127) |
| Cash paid for business acquisitions | (16,352) | (127,496) |
| Other | 4,362 | 0 |
| Net cash used in investing activities | (41,471) | (152,623) |
| Cash flows from financing activities: | ||
| Borrowing on revolving credit facility | 652,076 | 688,411 |
| Payments on revolving credit facility | (610,866) | (684,794) |
| Proceeds from the issuance of the Term Loan | 0 | 50,000 |
| Payments for borrowings under Term Loan | (3,375) | 0 |
| Payments of debt issuance costs | 0 | (6,693) |
| Cash paid for treasury shares | (17,969) | (22,434) |
| Dividends paid | (5,729) | (6,518) |
| Cash paid for taxes for stock-based compensation shares withheld | (4,123) | (12,239) |
| Other | (387) | (85) |
| Net cash provided by financing activities | 9,627 | 5,648 |
| Effect of exchange rate changes on cash balances | (393) | 25 |
| Net decrease in cash and cash equivalents | (10,339) | (12,579) |
| Cash and cash equivalents, beginning of period | 49,173 | 58,766 |
| Cash and cash equivalents, end of period | 38,834 | 46,187 |
| Supplemental disclosures of cash flow information: | ||
| Net cash paid (received) for income taxes | (47,771) | 13,230 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | 20,533 | 10,786 |
| Cash paid for operating lease liabilities | 104,185 | 107,056 |
| Non-cash investing and financing activities: | ||
| Property and equipment purchases not yet paid | 2,777 | 8,269 |
| Operating lease liabilities arising from lease asset additions | 10,818 | 11,521 |
| Net increase to operating lease assets and lease liabilities for modifications | $ 65,435 | $ 121,476 |
Description of Business and Sig
| Description of Business and Significant Accounting Policies | 6 Months Ended |
| Aug. 03, 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 Co., 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, as well as from commissions for serving retailers as the design and buying agent for products under private labels. We have a 40.0% ownership interest in ABG-Camuto, LLC ("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 also have a 33.3% ownership interest in Le Tigre 360 Global LLC ("Le Tigre"), which manages the Le Tigre brand, and are party to a license agreement with Le Tigre, which provides for the exclusive right to design, source, and sell Le Tigre-branded footwear. Our equity investments are an integral part of the Brand Portfolio segment. 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 has allowed 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 six months ended July 29, 2023, we recognized $2.9 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 six months ended August 3, 2024 and July 29, 2023, we incurred severance costs of $4.3 million and $2.4 million, respectively. These costs are included in operating expenses on the condensed consolidated statements of operations. As of August 3, 2024, February 3, 2024, and July 29, 2023, we had $3.0 million, $3.9 million, and $3.0 million, respectively, of severance liability included in accrued expenses on the condensed consolidated balance sheets. Income Taxes- For the three months ended August 3, 2024 and July 29, 2023, our effective tax rate was 19.3% and 31.4%, respectively, and for the six months ended August 3, 2024 and July 29, 2023, our effective tax rate was 1.0% and 27.4%, respectively. The lower effective tax rate for the three and six months ended August 3, 2024 was due to discrete tax benefits recognized, primarily the release of tax reserves no longer deemed necessary and state tax planning initiatives, partially offset by the impact of permanent non-deductible compensation. The higher effective tax rate for the three and six months ended July 29, 2023 was due to the impact of permanent non-deductible compensation partially offset by federal and state valuation allowance adjustments. 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 | 6 Months Ended |
| Aug. 03, 2024 | |
| Business Combination, Asset Acquisition, and Joint Venture Formation [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 not expected to be deductible for income tax purposes. ACQUISITION OF RUBINO On April 8, 2024, we acquired Rubino for $16.4 million in cash, subject to a working capital adjustment to be determined by the end of the third quarter of 2024, which was funded with available cash and borrowings on the ABL Revolver. The purchase price also included a contingent consideration with a maximum potential payment of $1.5 million, subject to Rubino's achievement of a defined average annual financial performance target for the 24-month period following the acquisition. Based on Rubino's projected performance, we have estimated at fair value no contingent consideration to be recorded. 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 Measurement Period Adjustments Preliminary Purchase Price Allocation as of August 3, 2024 Purchase Price: Cash consideration $ 16,674 $ (322) $ 16,352 Contingent consideration 1,472 (1,472) — $ 18,146 $ (1,794) $ 16,352 Fair value of assets and liabilities acquired: Inventories $ 6,967 $ 322 $ 7,289 Operating lease assets 9,334 — 9,334 Goodwill 9,972 (2,981) 6,991 Intangible assets 3,166 1,840 5,006 Other assets 2,273 151 2,424 Accounts payable and other current liabilities (4,232) (1,126) (5,358) Operating lease liabilities (9,334) — (9,334) $ 18,146 $ (1,794) $ 16,352 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 purchase price and 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 estimated 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 not expected to be deductible for income tax purposes. |
Revenue
| Revenue | 6 Months Ended |
| Aug. 03, 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 August 3, 2024 Owned Brands: (1) Direct-to-consumer $ 98,040 $ 10,550 $ 13,889 $ — $ 122,479 External customer wholesale, commission income, and other — — 41,520 — 41,520 Intersegment wholesale — — 40,584 (40,584) — Total Owned Brands 98,040 10,550 95,993 (40,584) 163,999 National brands 543,654 64,247 — — 607,901 Total net sales $ 641,694 $ 74,797 $ 95,993 $ (40,584) $ 771,900 Three months ended July 29, 2023 Owned Brands: (1) Direct-to-consumer $ 115,749 $ 10,048 $ 15,776 $ — $ 141,573 External customer wholesale, commission income, and other — — 47,633 — 47,633 Intersegment wholesale and commission income — — 20,808 (20,808) — Total Owned Brands 115,749 10,048 84,217 (20,808) 189,206 National brands 542,793 60,218 — — 603,011 Total net sales $ 658,542 $ 70,266 $ 84,217 $ (20,808) $ 792,217 Six months ended August 3, 2024 Owned Brands: (1) Direct-to-consumer $ 203,054 $ 18,910 $ 27,819 $ — $ 249,783 External customer wholesale, commission income, and other — — 97,307 — 97,307 Intersegment wholesale — — 74,997 (74,997) — Total Owned Brands 203,054 18,910 200,123 (74,997) 347,090 National brands 1,060,007 111,399 — — 1,171,406 Total net sales $ 1,263,061 $ 130,309 $ 200,123 $ (74,997) $ 1,518,496 Six months ended July 29, 2023 Owned Brands: (1) Direct-to-consumer $ 238,958 $ 17,920 $ 26,400 $ — $ 283,278 External customer wholesale, commission income, and other — — 112,250 — 112,250 Intersegment wholesale and commission income — — 38,550 (38,550) — Total Owned Brands 238,958 17,920 177,200 (38,550) 395,528 National brands 1,032,470 106,301 — — 1,138,771 Total net sales $ 1,271,428 $ 124,221 $ 177,200 $ (38,550) $ 1,534,299 (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 and the six months ended July 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 Six months ended (in thousands) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Net sales: U.S. Retail segment: Women's footwear $ 402,885 $ 423,563 $ 811,658 $ 830,756 Men's footwear 148,396 153,721 277,756 282,553 Kids' footwear 55,528 45,163 105,758 89,457 Accessories and other 34,885 36,095 67,889 68,662 641,694 658,542 1,263,061 1,271,428 Canada Retail segment: Women's footwear 42,234 40,534 73,093 71,048 Men's footwear 19,235 18,880 33,353 32,746 Kids' footwear 9,976 8,089 18,537 15,633 Accessories and other 3,352 2,763 5,326 4,794 74,797 70,266 130,309 124,221 Brand Portfolio segment: Wholesale 80,592 64,709 169,262 145,493 Direct-to consumer 13,889 15,776 27,819 26,400 Commission income and other 1,512 3,732 3,042 5,307 95,993 84,217 200,123 177,200 Total segment net sales 812,484 813,025 1,593,493 1,572,849 Elimination of intersegment sales (40,584) (20,808) (74,997) (38,550) Total net sales $ 771,900 $ 792,217 $ 1,518,496 $ 1,534,299 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 July 29, 2023 has been corrected to reflect the reduction of $13.9 million of U.S. Retail segment net sales from accessories and other and increases of $6.0 million and $7.9 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 second quarter of 2023. The above table for the six months ended July 29, 2023 has been corrected to reflect the reduction of $22.2 million of U.S. Retail segment net sales from accessories and other and increases of $10.0 million and $12.2 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 and second quarters of 2023. This immaterial correction did not impact the condensed consolidated statements of operations, comprehensive income, 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 Six months ended (in thousands) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Gift cards: Beginning of period $ 27,811 $ 30,933 $ 31,662 $ 35,121 Gift cards redeemed and breakage recognized to net sales (14,763) (16,388) (32,028) (32,837) Gift cards issued 12,297 13,689 25,711 25,950 End of period $ 25,345 $ 28,234 $ 25,345 $ 28,234 Loyalty programs: Beginning of period $ 14,948 $ 16,632 $ 15,971 $ 16,900 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (8,104) (7,835) (16,294) (15,427) Deferred revenue for loyalty points issued 7,710 7,965 14,877 15,289 End of period $ 14,554 $ 16,762 $ 14,554 $ 16,762 |
Related Party Transactions
| Related Party Transactions | 6 Months Ended |
| Aug. 03, 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 August 3, 2024, the Schottenstein Affiliates beneficially owned approximately 26% of the Company's outstanding common shares, representing approximately 63% 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 August 3, 2024 and July 29, 2023, we recorded rent expense from the leases with Schottenstein Affiliates of $1.6 million and $2.1 million, respectively. For the six months ended August 3, 2024 and July 29, 2023, we recorded rent expense from the leases with Schottenstein Affiliates of $3.6 million and $4.0 million, respectively. As of August 3, 2024, February 3, 2024, and July 29, 2023, we had related party current operating lease liabilities of $4.0 million, $5.6 million, and $4.7 million, respectively, and non-current operating lease liabilities of $18.1 million, $18.5 million, and $12.0 million, respectively. Other Purchases and Services - For both the three months ended August 3, 2024 and July 29, 2023, we had other purchases and services we incurred from the Schottenstein Affiliates of $0.6 million. For both the six months ended August 3, 2024 and July 29, 2023, we had other purchases and services we incurred from the Schottenstein Affiliates of $1.2 million. 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 August 3, 2024 and July 29, 2023, we recorded royalty expense for amounts paid to ABG-Camuto of $4.8 million and $4.6 million, respectively. For the six months ended August 3, 2024 and July 29, 2023, we recorded royalty expense for amounts paid to ABG-Camuto of $9.6 million and $9.1 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 | 6 Months Ended |
| Aug. 03, 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 Six months ended (in thousands) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Weighted average basic shares outstanding 57,162 65,576 57,313 64,973 Dilutive effect of stock-based compensation awards 1,414 1,421 1,665 1,890 Weighted average diluted shares outstanding 58,576 66,997 58,978 66,863 For the three months ended August 3, 2024 and July 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 4.1 million and 3.1 million, respectively. For both the six months ended August 3, 2024 and July 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 3.6 million. |
Stock-based Compensation
| Stock-based Compensation | 6 Months Ended |
| Aug. 03, 2024 | |
| Share-Based Payment Arrangement [Abstract] | |
| STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION For the three months ended August 3, 2024 and July 29, 2023, we recorded stock-based compensation expense of $5.8 million and $7.4 million, respectively. For the six months ended August 3, 2024 and July 29, 2023, we recorded stock-based compensation expense of $11.4 million and $19.0 million, respectively. These costs are included in operating expenses on the condensed consolidated statements of operations. The following table summarizes the stock-based compensation award share activity for RSUs for the six months ended August 3, 2024: (in thousands) Shares of Time-Based RSUs Shares of Performance-Based RSUs Outstanding - beginning of period 4,383 1,236 Granted 1,850 736 Vested (817) (284) Forfeited (411) (692) Outstanding - end of period 5,005 996 |
Shareholders' Equity
| Shareholders' Equity | 6 Months Ended |
| Aug. 03, 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) August 3, 2024 February 3, 2024 July 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 92,982 7,733 92,051 7,733 91,138 7,733 Outstanding shares 47,757 7,733 49,491 7,733 56,143 7,733 Treasury shares 45,225 — 42,560 — 34,995 — 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. During the six months ended August 3, 2024, we repurchased 2.7 million Class A common shares at an aggregate cost of $18.0 million. As of August 3, 2024, $69.7 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 | 6 Months Ended |
| Aug. 03, 2024 | |
| Receivables [Abstract] | |
| RECEIVABLES | RECEIVABLES Receivables, net, consisted of the following: (in thousands) August 3, 2024 February 3, 2024 July 29, 2023 Customer accounts receivables: Receivables with payment guarantee by third-party provider $ 24,405 $ 18,615 $ 22,234 Receivables without payment guarantee 10,983 7,890 17,027 Income tax receivable — 44,476 42,488 Other receivables 14,731 13,093 16,092 Total receivables 50,119 84,074 97,841 Allowance for doubtful accounts (448) (484) (477) $ 49,671 $ 83,590 $ 97,364 |
Accrued Expenses
| Accrued Expenses | 6 Months Ended |
| Aug. 03, 2024 | |
| Payables and Accruals [Abstract] | |
| ACCRUED EXPENSES | ACCRUED EXPENSES Accrued expenses consisted of the following: (in thousands) August 3, 2024 February 3, 2024 July 29, 2023 Gift cards $ 25,345 $ 31,662 $ 28,234 Accrued compensation and related expenses 31,579 19,342 27,142 Accrued taxes 23,721 23,134 21,878 Loyalty programs deferred revenue 14,554 15,971 16,762 Customer returns and allowances 19,247 19,569 19,256 Other 46,709 49,944 58,858 $ 161,155 $ 159,622 $ 172,130 |
Debt
| Debt | 6 Months Ended |
| Aug. 03, 2024 | |
| Debt Disclosure [Abstract] | |
| DEBT | DEBT Debt consisted of the following: (in thousands) August 3, 2024 February 3, 2024 July 29, 2023 ABL Revolver $ 342,280 $ 301,070 $ 284,652 Term Loan 129,750 133,125 50,000 Total debt 472,030 434,195 334,652 Less unamortized Term Loan debt issuance costs (6,306) (7,101) (3,646) Less current maturities of long-term debt (6,750) (6,750) (2,500) Long-term debt $ 458,974 $ 420,344 $ 328,506 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 August 3, 2024, the revolving line of credit (excluding the FILO Term Loan) had a borrowing base of $471.8 million, with $312.3 million in outstanding borrowings and $4.4 million in letters of credit issued, resulting in $155.1 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 rat e of 7.5% as of August 3, 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 12.3% (effective interest rate of 13.7% when including the amortization of debt issuance costs) as of August 3, 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 August 3, 2024, we were in compliance with all financial covenants contained in the ABL Revolver and the Term Loan. |
Commitments and Contingencies
| Commitments and Contingencies | 6 Months Ended |
| Aug. 03, 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 | 6 Months Ended |
| Aug. 03, 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 August 3, 2024 Net sales: External customer sales $ 641,694 $ 74,797 $ 55,409 $ — $ 771,900 Intersegment sales — — 40,584 (40,584) — Total net sales $ 641,694 $ 74,797 $ 95,993 $ (40,584) $ 771,900 Gross profit $ 206,061 $ 25,307 $ 26,635 $ (5,089) $ 252,914 Income from equity investments $ — $ — $ 2,571 $ — $ 2,571 Three months ended July 29, 2023 Net sales: External customer sales $ 658,542 $ 70,266 $ 63,409 $ — $ 792,217 Intersegment sales — — 20,808 (20,808) — Total net sales $ 658,542 $ 70,266 $ 84,217 $ (20,808) $ 792,217 Gross profit $ 225,768 $ 23,811 $ 24,298 $ (490) $ 273,387 Income from equity investments $ — $ — $ 2,138 $ — $ 2,138 (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Six months ended August 3, 2024 Net sales: External customer sales $ 1,263,061 $ 130,309 $ 125,126 $ — $ 1,518,496 Intersegment sales — — 74,997 (74,997) — Total net sales $ 1,263,061 $ 130,309 $ 200,123 $ (74,997) $ 1,518,496 Gross profit $ 404,516 $ 42,692 $ 60,112 $ (9,337) $ 497,983 Income from equity investments $ — $ — $ 5,435 $ — $ 5,435 Six months ended July 29, 2023 Net sales: External customer sales $ 1,271,428 $ 124,221 $ 138,650 $ — $ 1,534,299 Intersegment sales — — 38,550 (38,550) — Total net sales $ 1,271,428 $ 124,221 $ 177,200 $ (38,550) $ 1,534,299 Gross profit $ 422,582 $ 40,985 $ 46,383 $ 1,176 $ 511,126 Income from equity investments $ — $ — $ 4,469 $ — $ 4,469 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, cost of sales, and gross profit. |
Pay vs Performance Disclosure
| Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Pay vs Performance Disclosure | ||||
| Net income | $ 13,824 | $ 37,204 | $ 14,607 | $ 48,619 |
Insider Trading Arrangements
| Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
| Aug. 03, 2024 | Aug. 03, 2024 | |
| Trading Arrangements, by Individual | ||
| Material Terms of Trading Arrangement | RULE 10B5-1 TRADING PLANS During the three months ended August 3, 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) | 6 Months Ended |
| Aug. 03, 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 six months ended July 29, 2023, we recognized $2.9 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 six months ended August 3, 2024 and July 29, 2023, we incurred severance costs of $4.3 million and $2.4 million, respectively. These costs are included in operating expenses on the condensed consolidated statements of operations. As of August 3, 2024, February 3, 2024, and July 29, 2023, we had $3.0 million, $3.9 million, and $3.0 million, respectively, of severance liability included in accrued expenses on the condensed consolidated balance sheets. |
| Income Taxes | Income Taxes- For the three months ended August 3, 2024 and July 29, 2023, our effective tax rate was 19.3% and 31.4%, respectively, and for the six months ended August 3, 2024 and July 29, 2023, our effective tax rate was 1.0% and 27.4%, respectively. The lower effective tax rate for the three and six months ended August 3, 2024 was due to discrete tax benefits recognized, primarily the release of tax reserves no longer deemed necessary and state tax planning initiatives, partially offset by the impact of permanent non-deductible compensation. The higher effective tax rate for the three and six months ended July 29, 2023 was due to the impact of permanent non-deductible compensation partially offset by federal and state valuation allowance adjustments. |
| 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. During the six months ended August 3, 2024, we repurchased 2.7 million Class A common shares at an aggregate cost of $18.0 million. As of August 3, 2024, $69.7 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) | 6 Months Ended |
| Aug. 03, 2024 | |
| Business Combination, Asset Acquisition, and Joint Venture Formation [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 Measurement Period Adjustments Preliminary Purchase Price Allocation as of August 3, 2024 Purchase Price: Cash consideration $ 16,674 $ (322) $ 16,352 Contingent consideration 1,472 (1,472) — $ 18,146 $ (1,794) $ 16,352 Fair value of assets and liabilities acquired: Inventories $ 6,967 $ 322 $ 7,289 Operating lease assets 9,334 — 9,334 Goodwill 9,972 (2,981) 6,991 Intangible assets 3,166 1,840 5,006 Other assets 2,273 151 2,424 Accounts payable and other current liabilities (4,232) (1,126) (5,358) Operating lease liabilities (9,334) — (9,334) $ 18,146 $ (1,794) $ 16,352 |
Revenue (Tables)
| Revenue (Tables) | 6 Months Ended |
| Aug. 03, 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 August 3, 2024 Owned Brands: (1) Direct-to-consumer $ 98,040 $ 10,550 $ 13,889 $ — $ 122,479 External customer wholesale, commission income, and other — — 41,520 — 41,520 Intersegment wholesale — — 40,584 (40,584) — Total Owned Brands 98,040 10,550 95,993 (40,584) 163,999 National brands 543,654 64,247 — — 607,901 Total net sales $ 641,694 $ 74,797 $ 95,993 $ (40,584) $ 771,900 Three months ended July 29, 2023 Owned Brands: (1) Direct-to-consumer $ 115,749 $ 10,048 $ 15,776 $ — $ 141,573 External customer wholesale, commission income, and other — — 47,633 — 47,633 Intersegment wholesale and commission income — — 20,808 (20,808) — Total Owned Brands 115,749 10,048 84,217 (20,808) 189,206 National brands 542,793 60,218 — — 603,011 Total net sales $ 658,542 $ 70,266 $ 84,217 $ (20,808) $ 792,217 Six months ended August 3, 2024 Owned Brands: (1) Direct-to-consumer $ 203,054 $ 18,910 $ 27,819 $ — $ 249,783 External customer wholesale, commission income, and other — — 97,307 — 97,307 Intersegment wholesale — — 74,997 (74,997) — Total Owned Brands 203,054 18,910 200,123 (74,997) 347,090 National brands 1,060,007 111,399 — — 1,171,406 Total net sales $ 1,263,061 $ 130,309 $ 200,123 $ (74,997) $ 1,518,496 Six months ended July 29, 2023 Owned Brands: (1) Direct-to-consumer $ 238,958 $ 17,920 $ 26,400 $ — $ 283,278 External customer wholesale, commission income, and other — — 112,250 — 112,250 Intersegment wholesale and commission income — — 38,550 (38,550) — Total Owned Brands 238,958 17,920 177,200 (38,550) 395,528 National brands 1,032,470 106,301 — — 1,138,771 Total net sales $ 1,271,428 $ 124,221 $ 177,200 $ (38,550) $ 1,534,299 (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 and the six months ended July 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 Six months ended (in thousands) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Net sales: U.S. Retail segment: Women's footwear $ 402,885 $ 423,563 $ 811,658 $ 830,756 Men's footwear 148,396 153,721 277,756 282,553 Kids' footwear 55,528 45,163 105,758 89,457 Accessories and other 34,885 36,095 67,889 68,662 641,694 658,542 1,263,061 1,271,428 Canada Retail segment: Women's footwear 42,234 40,534 73,093 71,048 Men's footwear 19,235 18,880 33,353 32,746 Kids' footwear 9,976 8,089 18,537 15,633 Accessories and other 3,352 2,763 5,326 4,794 74,797 70,266 130,309 124,221 Brand Portfolio segment: Wholesale 80,592 64,709 169,262 145,493 Direct-to consumer 13,889 15,776 27,819 26,400 Commission income and other 1,512 3,732 3,042 5,307 95,993 84,217 200,123 177,200 Total segment net sales 812,484 813,025 1,593,493 1,572,849 Elimination of intersegment sales (40,584) (20,808) (74,997) (38,550) Total net sales $ 771,900 $ 792,217 $ 1,518,496 $ 1,534,299 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 July 29, 2023 has been corrected to reflect the reduction of $13.9 million of U.S. Retail segment net sales from accessories and other and increases of $6.0 million and $7.9 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 second quarter of 2023. The above table for the six months ended July 29, 2023 has been corrected to reflect the reduction of $22.2 million of U.S. Retail segment net sales from accessories and other and increases of $10.0 million and $12.2 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 and second quarters of 2023. This immaterial correction did not impact the condensed consolidated statements of operations, comprehensive income, 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 Six months ended (in thousands) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Gift cards: Beginning of period $ 27,811 $ 30,933 $ 31,662 $ 35,121 Gift cards redeemed and breakage recognized to net sales (14,763) (16,388) (32,028) (32,837) Gift cards issued 12,297 13,689 25,711 25,950 End of period $ 25,345 $ 28,234 $ 25,345 $ 28,234 Loyalty programs: Beginning of period $ 14,948 $ 16,632 $ 15,971 $ 16,900 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (8,104) (7,835) (16,294) (15,427) Deferred revenue for loyalty points issued 7,710 7,965 14,877 15,289 End of period $ 14,554 $ 16,762 $ 14,554 $ 16,762 |
Earnings Per Share (Tables)
| Earnings Per Share (Tables) | 6 Months Ended |
| Aug. 03, 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 Six months ended (in thousands) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Weighted average basic shares outstanding 57,162 65,576 57,313 64,973 Dilutive effect of stock-based compensation awards 1,414 1,421 1,665 1,890 Weighted average diluted shares outstanding 58,576 66,997 58,978 66,863 |
Stock-based Compensation (Table
| Stock-based Compensation (Tables) | 6 Months Ended |
| Aug. 03, 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 six months ended August 3, 2024: (in thousands) Shares of Time-Based RSUs Shares of Performance-Based RSUs Outstanding - beginning of period 4,383 1,236 Granted 1,850 736 Vested (817) (284) Forfeited (411) (692) Outstanding - end of period 5,005 996 |
Shareholders' Equity (Tables)
| Shareholders' Equity (Tables) | 6 Months Ended |
| Aug. 03, 2024 | |
| Shareholders' Equity [Abstract] | |
| Schedule of Stock by Class | The following table provides additional information for our common shares: (in thousands) August 3, 2024 February 3, 2024 July 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 92,982 7,733 92,051 7,733 91,138 7,733 Outstanding shares 47,757 7,733 49,491 7,733 56,143 7,733 Treasury shares 45,225 — 42,560 — 34,995 — |
Receivables (Tables)
| Receivables (Tables) | 6 Months Ended |
| Aug. 03, 2024 | |
| Receivables [Abstract] | |
| Schedule of Accounts, Notes, Loans and Financing Receivable | Receivables, net, consisted of the following: (in thousands) August 3, 2024 February 3, 2024 July 29, 2023 Customer accounts receivables: Receivables with payment guarantee by third-party provider $ 24,405 $ 18,615 $ 22,234 Receivables without payment guarantee 10,983 7,890 17,027 Income tax receivable — 44,476 42,488 Other receivables 14,731 13,093 16,092 Total receivables 50,119 84,074 97,841 Allowance for doubtful accounts (448) (484) (477) $ 49,671 $ 83,590 $ 97,364 |
Accrued Expenses (Tables)
| Accrued Expenses (Tables) | 6 Months Ended |
| Aug. 03, 2024 | |
| Payables and Accruals [Abstract] | |
| Accrued Expenses | Accrued expenses consisted of the following: (in thousands) August 3, 2024 February 3, 2024 July 29, 2023 Gift cards $ 25,345 $ 31,662 $ 28,234 Accrued compensation and related expenses 31,579 19,342 27,142 Accrued taxes 23,721 23,134 21,878 Loyalty programs deferred revenue 14,554 15,971 16,762 Customer returns and allowances 19,247 19,569 19,256 Other 46,709 49,944 58,858 $ 161,155 $ 159,622 $ 172,130 |
Debt (Tables)
| Debt (Tables) | 6 Months Ended |
| Aug. 03, 2024 | |
| Debt Disclosure [Abstract] | |
| Schedule of Debt | Debt consisted of the following: (in thousands) August 3, 2024 February 3, 2024 July 29, 2023 ABL Revolver $ 342,280 $ 301,070 $ 284,652 Term Loan 129,750 133,125 50,000 Total debt 472,030 434,195 334,652 Less unamortized Term Loan debt issuance costs (6,306) (7,101) (3,646) Less current maturities of long-term debt (6,750) (6,750) (2,500) Long-term debt $ 458,974 $ 420,344 $ 328,506 |
Segment Reporting (Tables)
| Segment Reporting (Tables) | 6 Months Ended |
| Aug. 03, 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 August 3, 2024 Net sales: External customer sales $ 641,694 $ 74,797 $ 55,409 $ — $ 771,900 Intersegment sales — — 40,584 (40,584) — Total net sales $ 641,694 $ 74,797 $ 95,993 $ (40,584) $ 771,900 Gross profit $ 206,061 $ 25,307 $ 26,635 $ (5,089) $ 252,914 Income from equity investments $ — $ — $ 2,571 $ — $ 2,571 Three months ended July 29, 2023 Net sales: External customer sales $ 658,542 $ 70,266 $ 63,409 $ — $ 792,217 Intersegment sales — — 20,808 (20,808) — Total net sales $ 658,542 $ 70,266 $ 84,217 $ (20,808) $ 792,217 Gross profit $ 225,768 $ 23,811 $ 24,298 $ (490) $ 273,387 Income from equity investments $ — $ — $ 2,138 $ — $ 2,138 (in thousands) U.S. Retail Canada Retail Brand Portfolio Eliminations Consolidated Six months ended August 3, 2024 Net sales: External customer sales $ 1,263,061 $ 130,309 $ 125,126 $ — $ 1,518,496 Intersegment sales — — 74,997 (74,997) — Total net sales $ 1,263,061 $ 130,309 $ 200,123 $ (74,997) $ 1,518,496 Gross profit $ 404,516 $ 42,692 $ 60,112 $ (9,337) $ 497,983 Income from equity investments $ — $ — $ 5,435 $ — $ 5,435 Six months ended July 29, 2023 Net sales: External customer sales $ 1,271,428 $ 124,221 $ 138,650 $ — $ 1,534,299 Intersegment sales — — 38,550 (38,550) — Total net sales $ 1,271,428 $ 124,221 $ 177,200 $ (38,550) $ 1,534,299 Gross profit $ 422,582 $ 40,985 $ 46,383 $ 1,176 $ 511,126 Income from equity investments $ — $ — $ 4,469 $ — $ 4,469 |
Description of Business and S_3
| Description of Business and Significant Accounting Policies - Narrative (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
| Aug. 03, 2024 USD ($) | Jul. 29, 2023 USD ($) | Aug. 03, 2024 USD ($) segment | Jul. 29, 2023 USD ($) | Feb. 03, 2024 USD ($) | Jul. 31, 2022 | |
| Entity Information [Line Items] | ||||||
| Number of reportable segments | segment | 3 | |||||
| Restructuring charges incurred | $ 0 | $ 2.9 | ||||
| Severance costs | 4.3 | 2.4 | ||||
| Severance liability | $ 3 | $ 3 | $ 3 | $ 3 | $ 3.9 | |
| Effective tax rate | 19.30% | 31.40% | 1% | 27.40% | ||
| Le Tigre | ||||||
| Entity Information [Line Items] | ||||||
| Ownership percentage | 33.30% | 33.30% | 33.30% | |||
| Designer Brands Inc. | ABG-Camuto, LLC | ||||||
| Entity Information [Line Items] | ||||||
| Noncontrolling interest, ownership percentage by parent | 40% | 40% | ||||
Acquisitions - Narrative (Detai
| Acquisitions - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
| Aug. 03, 2024 | 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 | $ 16,352 | $ 16,674 | ||
| Contingent consideration | $ 0 | $ 1,472 |
Acquisitions - Allocation of Co
| Acquisitions - Allocation of Consideration (Details) - USD ($) $ in Thousands | 4 Months Ended | 12 Months Ended | |||
| Aug. 03, 2024 | Apr. 08, 2024 | Aug. 03, 2024 | Feb. 03, 2024 | Jul. 29, 2023 | |
| Fair value of assets and liabilities acquired: | |||||
| Goodwill | $ 130,611 | $ 130,611 | $ 123,759 | $ 135,259 | |
| 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 | 16,352 | $ 16,674 | |||
| Contingent consideration | 0 | 1,472 | |||
| Total consideration transferred | 16,352 | 18,146 | |||
| Fair value of assets and liabilities acquired: | |||||
| Inventories | 7,289 | 6,967 | 7,289 | ||
| Operating lease assets | 9,334 | 9,334 | 9,334 | ||
| Goodwill | 6,991 | 9,972 | 6,991 | ||
| Intangible assets | 5,006 | 3,166 | 5,006 | ||
| Other assets | 2,424 | 2,273 | 2,424 | ||
| Accounts payable and other current liabilities | (5,358) | (4,232) | (5,358) | ||
| Operating lease liabilities | (9,334) | (9,334) | (9,334) | ||
| Fair value of assets and liabilities acquired | $ 16,352 | $ 18,146 | 16,352 | ||
| Measurement Period Adjustments | |||||
| Cash consideration | (322) | ||||
| Contingent consideration | (1,472) | ||||
| Inventories | 322 | ||||
| Goodwill | (2,981) | ||||
| Intangible assets | 1,840 | ||||
| Other assets | 151 | ||||
| Accounts payable and other current liabilities | (1,126) | ||||
| Total Measurement Period Adjustments | $ (1,794) |
Revenue - by Brand Categories (
| Revenue - by Brand Categories (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | $ 771,900 | $ 792,217 | $ 1,518,496 | $ 1,534,299 |
| Eliminations | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | (40,584) | (20,808) | (74,997) | (38,550) |
| U.S. Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 641,694 | 658,542 | 1,263,061 | 1,271,428 |
| Canada Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 74,797 | 70,266 | 130,309 | 124,221 |
| Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 95,993 | 84,217 | 200,123 | 177,200 |
| Owned Brands | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 163,999 | 189,206 | 347,090 | 395,528 |
| Owned Brands | Eliminations | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | (40,584) | (20,808) | (74,997) | (38,550) |
| Owned Brands | U.S. Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 98,040 | 115,749 | 203,054 | 238,958 |
| Owned Brands | Canada Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 10,550 | 10,048 | 18,910 | 17,920 |
| Owned Brands | Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 95,993 | 84,217 | 200,123 | 177,200 |
| Owned Brands | Direct-to-consumer | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 122,479 | 141,573 | 249,783 | 283,278 |
| Owned Brands | Direct-to-consumer | U.S. Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 98,040 | 115,749 | 203,054 | 238,958 |
| Owned Brands | Direct-to-consumer | Canada Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 10,550 | 10,048 | 18,910 | 17,920 |
| Owned Brands | Direct-to-consumer | Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 13,889 | 15,776 | 27,819 | 26,400 |
| Owned Brands | External customer wholesale and commission income | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 41,520 | 47,633 | 97,307 | 112,250 |
| Owned Brands | External customer wholesale and commission income | U.S. Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 0 | 0 | 0 | 0 |
| Owned Brands | External customer wholesale and commission income | Canada Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 0 | 0 | 0 | 0 |
| Owned Brands | External customer wholesale and commission income | Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 41,520 | 47,633 | 97,307 | 112,250 |
| Owned Brands | Intersegment wholesale and commission income | Eliminations | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | (40,584) | (20,808) | (74,997) | (38,550) |
| Owned Brands | Intersegment wholesale and commission income | Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 40,584 | 20,808 | 74,997 | 38,550 |
| National Brands | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 607,901 | 603,011 | 1,171,406 | 1,138,771 |
| National Brands | U.S. Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 543,654 | 542,793 | 1,060,007 | 1,032,470 |
| National Brands | Canada Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 64,247 | 60,218 | 111,399 | 106,301 |
| National Brands | Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue - Disaggregation of Net
| Revenue - Disaggregation of Net Sales (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | $ 771,900 | $ 792,217 | $ 1,518,496 | $ 1,534,299 |
| Eliminations | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | (40,584) | (20,808) | (74,997) | (38,550) |
| Product | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 771,900 | 792,217 | 1,518,496 | 1,534,299 |
| Product | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 812,484 | 813,025 | 1,593,493 | 1,572,849 |
| U.S. Retail Segment | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 641,694 | 658,542 | 1,263,061 | 1,271,428 |
| U.S. Retail Segment | Women's footwear | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 402,885 | 423,563 | 811,658 | 830,756 |
| U.S. Retail Segment | Women's footwear | Segments | Revision of prior period, error correction | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 6,000 | 10,000 | ||
| U.S. Retail Segment | Men's footwear | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 148,396 | 153,721 | 277,756 | 282,553 |
| U.S. Retail Segment | Men's footwear | Segments | Revision of prior period, error correction | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 7,900 | 12,200 | ||
| U.S. Retail Segment | Kids' footwear | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 55,528 | 45,163 | 105,758 | 89,457 |
| U.S. Retail Segment | Accessories and other | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 34,885 | 36,095 | 67,889 | 68,662 |
| U.S. Retail Segment | Accessories and other | Segments | Revision of prior period, error correction | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | (13,900) | (22,200) | ||
| Canada Retail | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 74,797 | 70,266 | 130,309 | 124,221 |
| Canada Retail | Women's footwear | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 42,234 | 40,534 | 73,093 | 71,048 |
| Canada Retail | Men's footwear | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 19,235 | 18,880 | 33,353 | 32,746 |
| Canada Retail | Kids' footwear | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 9,976 | 8,089 | 18,537 | 15,633 |
| Canada Retail | Accessories and other | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 3,352 | 2,763 | 5,326 | 4,794 |
| Canada Retail | Product | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 74,797 | 70,266 | 130,309 | 124,221 |
| Brand Portfolio | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 95,993 | 84,217 | 200,123 | 177,200 |
| Brand Portfolio | Eliminations | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 40,584 | 20,808 | 74,997 | 38,550 |
| Brand Portfolio | Wholesale | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 80,592 | 64,709 | 169,262 | 145,493 |
| Brand Portfolio | Commission income | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 13,889 | 15,776 | 3,042 | 5,307 |
| Brand Portfolio | Direct-to-consumer | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | 1,512 | 3,732 | 27,819 | 26,400 |
| Brand Portfolio | Product | Segments | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Total net sales | $ 55,409 | $ 63,409 | $ 125,126 | $ 138,650 |
Revenue - Deferred Revenue Liab
| Revenue - Deferred Revenue Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Contract With Customer Liability [Roll Forward] | ||||
| Gift cards and merchandise credits, beginning balance | $ 27,811 | $ 30,933 | $ 31,662 | $ 35,121 |
| Gift cards and merchandise credits, ending balance | 25,345 | 28,234 | 25,345 | 28,234 |
| Loyalty programs deferred revenue, beginning balance | 14,948 | 16,632 | 15,971 | 16,900 |
| Loyalty programs deferred revenue, ending balance | 14,554 | 16,762 | 14,554 | 16,762 |
| 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 | (8,104) | (7,835) | (16,294) | (15,427) |
| Deferred revenue for loyalty points issued | ||||
| Contract With Customer Liability [Roll Forward] | ||||
| Increase (decrease) in contract with customer, liability | 7,710 | 7,965 | 14,877 | 15,289 |
| Gift cards redeemed and breakage recognized to net sales | ||||
| Contract With Customer Liability [Roll Forward] | ||||
| Increase (decrease) in contract with customer, liability | (14,763) | (16,388) | (32,028) | (32,837) |
| Gift cards issued | ||||
| Contract With Customer Liability [Roll Forward] | ||||
| Increase (decrease) in contract with customer, liability | $ 12,297 | $ 13,689 | $ 25,711 | $ 25,950 |
Related Party Transactions (Det
| Related Party Transactions (Details) - USD ($) $ in Thousands, shares in Millions | 3 Months Ended | 6 Months Ended | ||||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | Feb. 03, 2024 | Jul. 31, 2022 | |
| Related Party Transaction [Line Items] | ||||||
| Outstanding common shares owned (in hundredths) | 26% | 26% | ||||
| Combined voting power of outstanding common shares (in hundredths) | 63% | 63% | ||||
| Current operating lease liabilities | $ 156,394 | $ 181,484 | $ 156,394 | $ 181,484 | $ 166,531 | |
| Non-current operating lease liabilities | 653,416 | 682,248 | 653,416 | 682,248 | 646,161 | |
| Related Party | ||||||
| Related Party Transaction [Line Items] | ||||||
| Current operating lease liabilities | 4,000 | 4,700 | 4,000 | 4,700 | 5,600 | |
| Non-current operating lease liabilities | 18,100 | 12,000 | 18,100 | 12,000 | $ 18,500 | |
| Related Party | ||||||
| Related Party Transaction [Line Items] | ||||||
| Lease expense | $ 1,600 | 2,100 | $ 3,600 | 4,000 | ||
| Class A Common Shares | ||||||
| Related Party Transaction [Line Items] | ||||||
| Number of common shares owned by related party (in shares) | 7 | 7 | ||||
| Class B Common Shares | ||||||
| Related Party Transaction [Line Items] | ||||||
| Number of common shares owned by related party (in shares) | 7.7 | 7.7 | ||||
| Affiliated Entity | ||||||
| Related Party Transaction [Line Items] | ||||||
| Royalty expense | $ 4,800 | 4,600 | $ 9,600 | 9,100 | ||
| Affiliated Entity | Schottenstein Affiliates | ||||||
| Related Party Transaction [Line Items] | ||||||
| Other purchases and services | $ 600 | $ 600 | $ 1,200 | $ 1,200 | ||
| Le Tigre | ||||||
| Related Party Transaction [Line Items] | ||||||
| Ownership percentage | 33.30% | 33.30% | 33.30% | |||
| Designer Brands Inc. | ABG-Camuto, LLC | ||||||
| Related Party Transaction [Line Items] | ||||||
| Noncontrolling interest, ownership percentage by parent | 40% | 40% | ||||
Earnings Per Share (Details)
| Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Earnings Per Share [Abstract] | ||||
| Basic shares | 57,162 | 65,576 | 57,313 | 64,973 |
| Weighted average basic shares outstanding | 1,414 | 1,421 | 1,665 | 1,890 |
| Diluted shares | 58,576 | 66,997 | 58,978 | 66,863 |
Earnings Per Share - Anti-Dilut
| Earnings Per Share - Anti-Dilutive Securities (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Earnings Per Share [Abstract] | ||||
| Antidilutive securities excluded from computation of earnings per share, amount (in shares) | 4.1 | 3.1 | 3.6 | 3.6 |
Stock-based Compensation - Expe
| Stock-based Compensation - Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Restricted Stock Units (RSUs) | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Stock-based compensation expense | $ 5,800 | $ 7,400 | $ 11,400 | $ 19,000 |
Stock-based Compensation - Rest
| Stock-based Compensation - Restricted Stock Units (Details) shares in Thousands | 6 Months Ended |
| Aug. 03, 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) | 1,850 |
| Vested (in units) | (817) |
| Forfeited (in units) | (411) |
| Outstanding, end of period (in units) | 5,005 |
| Performance Shares | |
| Equity instruments other than options [Roll forward] | |
| Outstanding, beginning of period (in units) | 1,236 |
| Granted (in units) | 736 |
| Vested (in units) | (284) |
| Forfeited (in units) | (692) |
| Outstanding, end of period (in units) | 996 |
Shareholders' Equity (Details)
| Shareholders' Equity (Details) $ in Millions | 6 Months Ended | |||
| Aug. 03, 2024 USD ($) $ / shares shares | Feb. 03, 2024 shares | Jul. 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 | |||
| 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 | 92,982,000 | 92,051,000 | 91,138,000 | |
| Common Shares, outstanding (in shares) | 47,757,000 | 49,491,000 | 56,143,000 | |
| Treasury Stock, Common, Shares | 45,225,000 | 42,560,000 | 34,995,000 | |
| Authorized repurchase amount | $ | $ 500 | |||
| Remaining authorized repurchase amount | $ | $ 69.7 | $ 33.5 | ||
| Repurchase of Class A common shares (in shares) | 2,700,000 | |||
| Repurchase of Class A common shares | $ | $ 18 | |||
| 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 | Aug. 03, 2024 | Feb. 03, 2024 | Jul. 29, 2023 |
| Receivables [Abstract] | |||
| Receivables with payment guarantee by third-party provider | $ 24,405 | $ 18,615 | $ 22,234 |
| Receivables without payment guarantee | 10,983 | 7,890 | 17,027 |
| Income tax receivable | 0 | 44,476 | 42,488 |
| Other receivables | 14,731 | 13,093 | 16,092 |
| Total receivables | 50,119 | 84,074 | 97,841 |
| Allowance for doubtful accounts | (448) | (484) | (477) |
| Receivables, net | $ 49,671 | $ 83,590 | $ 97,364 |
Accrued Expenses (Details)
| Accrued Expenses (Details) - USD ($) $ in Thousands | Aug. 03, 2024 | May 04, 2024 | Feb. 03, 2024 | Jul. 29, 2023 | Apr. 29, 2023 | Jan. 28, 2023 |
| Payables and Accruals [Abstract] | ||||||
| Gift cards | $ 25,345 | $ 27,811 | $ 31,662 | $ 28,234 | $ 30,933 | $ 35,121 |
| Accrued compensation and related expenses | 31,579 | 19,342 | 27,142 | |||
| Accrued taxes | 23,721 | 23,134 | 21,878 | |||
| Loyalty programs deferred revenue | 14,554 | $ 14,948 | 15,971 | 16,762 | $ 16,632 | $ 16,900 |
| Customer returns and allowances | 19,247 | 19,569 | 19,256 | |||
| Other | 46,709 | 49,944 | 58,858 | |||
| Total accrued expenses | $ 161,155 | $ 159,622 | $ 172,130 |
Debt - Schedule of Debt (Detail
| Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | Aug. 03, 2024 | Feb. 03, 2024 | Jul. 29, 2023 |
| Debt Instrument [Line Items] | |||
| Total debt | $ 472,030 | $ 434,195 | $ 334,652 |
| Less unamortized Term Loan debt issuance costs | (6,306) | (7,101) | (3,646) |
| Less current maturities of long-term debt | (6,750) | (6,750) | (2,500) |
| Long-term debt | 458,974 | 420,344 | 328,506 |
| Line of Credit | Revolving Credit Facility and Swing Loan | ABL Revolver | |||
| Debt Instrument [Line Items] | |||
| Total debt | 342,280 | 301,070 | 284,652 |
| Term Loan | Term Loan | |||
| Debt Instrument [Line Items] | |||
| Total debt | $ 129,750 | $ 133,125 | $ 50,000 |
Debt - Narrative (Details)
| Debt - Narrative (Details) $ in Thousands | 6 Months Ended | ||||
| Jun. 23, 2023 USD ($) | Aug. 03, 2024 USD ($) | Feb. 03, 2024 USD ($) | Jul. 29, 2023 USD ($) | Feb. 28, 2023 USD ($) | |
| Debt Instrument [Line Items] | |||||
| Total debt | $ 472,030 | $ 434,195 | $ 334,652 | ||
| Term Loan | Term Loan | |||||
| Debt Instrument [Line Items] | |||||
| Debt face amount | $ 135,000 | ||||
| Total debt | $ 129,750 | $ 133,125 | $ 50,000 | ||
| Debt term | 5 years | ||||
| Interest rate | 12.30% | ||||
| Effective interest rate | 13.70% | ||||
| 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 | $ 471,800 | ||||
| Total debt | 312,300 | ||||
| Letters of credit | 4,400 | ||||
| Availability for borrowings | $ 155,100 | ||||
| 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 | Aug. 03, 2024 USD ($) |
| Commitments and Contingencies Disclosure [Abstract] | |
| Future payments for guarantees | $ 3.4 |
Segment Reporting (Details)
| Segment Reporting (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Aug. 03, 2024 | Jul. 29, 2023 | Aug. 03, 2024 | Jul. 29, 2023 | |
| Segment information [Abstract] | ||||
| Net sales | $ 771,900 | $ 792,217 | $ 1,518,496 | $ 1,534,299 |
| Gross profit | 252,914 | 273,387 | 497,983 | 511,126 |
| Income from equity investments | 2,571 | 2,138 | 5,435 | 4,469 |
| Product | ||||
| Segment information [Abstract] | ||||
| Net sales | 771,900 | 792,217 | 1,518,496 | 1,534,299 |
| Segments | U.S. Retail | ||||
| Segment information [Abstract] | ||||
| Net sales | 641,694 | 658,542 | 1,263,061 | 1,271,428 |
| Gross profit | 206,061 | 225,768 | 404,516 | 422,582 |
| Income from equity investments | 0 | 0 | 0 | 0 |
| Segments | Canada Retail | ||||
| Segment information [Abstract] | ||||
| Net sales | 74,797 | 70,266 | 130,309 | 124,221 |
| Gross profit | 25,307 | 23,811 | 42,692 | 40,985 |
| Income from equity investments | 0 | 0 | 0 | 0 |
| Segments | Brand Portfolio | ||||
| Segment information [Abstract] | ||||
| Net sales | 95,993 | 84,217 | 200,123 | 177,200 |
| Gross profit | 26,635 | 24,298 | 60,112 | 46,383 |
| Income from equity investments | 2,571 | 2,138 | 5,435 | 4,469 |
| Segments | Product | ||||
| Segment information [Abstract] | ||||
| Net sales | 812,484 | 813,025 | 1,593,493 | 1,572,849 |
| Segments | Product | U.S. Retail | ||||
| Segment information [Abstract] | ||||
| Net sales | 641,694 | 658,542 | 1,263,061 | 1,271,428 |
| Segments | Product | Canada Retail | ||||
| Segment information [Abstract] | ||||
| Net sales | 74,797 | 70,266 | 130,309 | 124,221 |
| Segments | Product | Brand Portfolio | ||||
| Segment information [Abstract] | ||||
| Net sales | 55,409 | 63,409 | 125,126 | 138,650 |
| Eliminations | ||||
| Segment information [Abstract] | ||||
| Net sales | (40,584) | (20,808) | (74,997) | (38,550) |
| Gross profit | (5,089) | (490) | (9,337) | 1,176 |
| Eliminations | Brand Portfolio | ||||
| Segment information [Abstract] | ||||
| Net sales | $ 40,584 | $ 20,808 | $ 74,997 | $ 38,550 |