about most understand with and significant you, with have a of on today’s buy into over fruition fruits I I years. call the little that to many you come dig morning. comfortable on end quarter. power you you have with relative of better quarter away you are. both understand To the the and this what forward Thank are sense the model and come I to so meeting as you Roger excited in you feel anxious getting the have I Brands. first road of been as X our let’s portion the the too sharing growth that Roger, including fruits can a of for until as drives that of the early the simplicity next for Designer what But created those we results at you look understandably, appear. And they start to see to good
Net acquired integration the first million associated and of tax expenses after charges quarter which restructuring to primarily income $XX.X was or XXXX diluted with for $X.XX per businesses. $X.XX per the share diluted of net included related or share million $X.X
Excluding these will related net associated remainder of exclude share, be call XXXX foreign certain per under referencing share. GAAP. primarily exit per and Net million to with of net $X.XX diluted or recorded which for costs Ebuys, $XX.X or exchange the share losses. quarter The diluted was results first after that today’s during charges, financial EPS income per included charges tax $X.XX costs adjusted million acquisition $X.X $X.XX was of adjustments we the
adjusted For please a complete reference press reconciliation of release. our GAAP earnings to
businesses This Group which year. Affiliated grew Operating and healthy enhancements. over XX% and our our DSW comp is last legacy driven Business by increases margin was income for
a first same-store a growth included progress in infrastructure profit of Brands not for expected, And ecosystem. portfolio Roger yet are turned gross into the segment which quarter, made loss class brand sales Designer on integration our Camuto calculation. our representing improvement consolidated segment comp margin quarter in meaningful positive the as the tremendous and As mentioned our their world Retail Canadian the generated but during towards
in comp of comp year’s top seasonal and This X% sales product grew on key X% items. distortions U.S. Retail last growth. the At by driven segment, comp was
kids we the reap stronger a kids to live growing benefit year-over-year very final which kids as last of performer July the both be our to existing over XX% year. continued rollout the Additionally, phase strongly in went of stores comped continues of and
category accessories posted ADS largest X% at comped men’s flat, down to primarily transactions were and by was were our UPT. decline, X% comp while over a while traction struggled women’s lower gain Our up driven X%
quarter. with demand loyalty dollars continued LY a and quarter. acquisition to of Our shining industry into flat to leading customer dollars being distortion for our digital deliver programs marketing we continued pointed The a towards digital infrastructure by healthy for relatively the be and produced members expertise growing the drove spend XX% star X.X increase million to and new on as sales digital
points, retail of related strong gross to demand IMU quarter and growth, we we U.S. to improved in basis are able provided digital this while XX nearly leverage in by gross exclusive the for than Our profit basis reduced leverage. our our brands more expense offset growth saw the markdowns profit rate points shipping increase XX
to tremendous progress exclusive making highlight the want our we with brands are I growth.
increasing penetration we As results by you projected us may materially goods sales Investor were recall, our the we of Day at exciting driven the produce. discussed
existing Camuto’s growing so base that once of grow a working deliver grow while produced Camuto this is even we strong being DSW which have and our exclusive still it we Company’s higher Towards products. brands we a brand and to been third-party increase from well national as business penetration made quality to have Shoe can goal, as by the
on address have the to is to business with growth, Not is progress this with to For am we issues work for and margins our This of Investor Day current underway quality I right delivery making we the this progress lift meaningful with increase goals. reduce beginning. shipped Camuto XX% will we accounted provider. laid our happy exclusive more and will to while growth just must And richer to The on This LY. rate undertake quarter upbeat making of with retail work even reaped help am have first very I spring the is the next out, sales sales. total are amount we our been are U.S. move brand deliver it the for we us currently track much over only we of have it year. XX% here the amazing a represented and for having
note was calculation included not Canada Retail Canada standout the of last was QX not consolidated for quarter. since in segment another comp Please following be year performer. some in results Designer will data Our Brands next until purposes our points informational are and our
used ATG adopting segments, and XXX improved capabilities an to last support the Like banner experience. not X.X% distortion. of outperformed driven and their website increase Canada is in the an platform This to markdown the key points in happy the simultaneously more and U.S. enhancement business their minimization substantially by increase U.S., digital the same XX%. comparison management of of aged item their our was am by X.X%. around Town inventory included that of business, our In to dramatic to numbers. mobile basis now rate disciplines improvement of U.S. web gross management our revenue which in-country by comp and conversion their functionality report horsepower our Canada by delivered Retail I year’s segment goods, brings growing total profit Shoes at the a addition, specifically closed
All-in-all, a the of for is a was in QX years. what on stellar generated basis for Canadian quarter’s expect business. indicative This X gross more our profit more business last rate seen the not sustainable results I which for would quarter QX
you of so segment to businesses sales Camuto other only. segment. we quarter retail remember shipped Finally, give our I in own reporting in Camuto And that to help Camuto’s not reference during you business will that the to level turning the for last to but any to first to the the the general, purposes during you is LY quarter in year second, am first, need owned informational which are included of going Group, did product information assess any
eliminate is activity reported we which earned the the Camuto of accompanying ultimate and However, financials. until Thus intercompany margin Brands, ultimately product can these the will the some shift that end Designer effect consumer. recognition time upon at to margin timing sales and consolidation our consolidation, sold in sales such be there of see in between you
of brand segment below portfolio year’s sales slightly million, which $XXX.X net volume. generated last The was
challenge or lead half versus As the due customers Camuto and the open-to-buy product we to delays from a ownership LY experienced in to be expected long XXXX prior dollars takes the our business. significant times footwear to discussed, it of from the front time have who cancellations manufacturing regain previously is of to
noise report half. year reads on that I of stronger that and am to of however sell-throughs see dissipate progress the to as more in a normalized most we expect business through We back the than excited and Lucky encouraging. brands recent Jessica national major stronger branded our well. are seasons is retail much and in sell-throughs our are Camuto as partners most resonating Vince Simpson footwear and of
we While execution dollars locked we must customers was the regain XXXX have our starting this to XXXX, open-to-buy the see of missteps at validation sentiment receiving and we are of been still largest that after Camuto that see largest so financial and confident they Camuto’s been again return most products. Camuto’s from can to deliver to anxious once quality feel full have on-time in ability important customers they to help,
we been the customers, open-to-buy work have Brands retail Camuto’s with integrating to brands. addition have we In progress Camuto’s great important outlets also regain with Designer doing national made to
goods closeouts Camuto DSW $XX gone million. at inline wholesale businesses these of and discounters sales more The off-price sold majority to our lower quarter, than that included retailers as other would produced totaling as have goods prices. or to designed traditionally the were regular-priced that goods retail well During and
we Camuto work has retail the round approach to to our more to products assortment. placing our brands, first been outside ways importantly to with brands then orders brands out fall for XXXX started More and have exclusive our segment, as strongly for find look
$X.X Camuto’s last to Lane the quarter producing sourcing which of year. Camuto start for got FX product off for many healthy in the first customers, a including designing Camuto the and brand generated cost and under business DSW been revenue has
private DSW’s follow even more consolidate first business footwear Our to to secure brands penetration. increase independent teams continue label and working more actively as lead to retailers cost are
current to this We our of guide space. excited own team business. At we DSW, hand-in-glove and of works made some prospects brand an aspect exclusive all Camuto are the DSW exclusive most in brands goal managing teams dedicated This segment brand our of of team to talented exclusive at our the have provider the portfolio. towards built exclusive this our moving production the from merchants about Camuto. two with every consisting have current in These tremendous progress nearly brand of team
product shift such be by planned will that to As the we discussed this of this occur for during we start XXXX sourced previously, by Camuto XXXX.
with and completed, on finalized being work profile now goal, now are factory and technical design track secured. We design sketches capacity approved, squarely that customer to
materialize the opportunities did provides in of Although together our for bulk of DSW Camuto in DSW immediately. to Brands. margin between XXXX, we to synergies and mentioned yet work sales the to wholesale previously products Designer begin enhanced of XXXX rate substantially benefit multiple find The products
Additionally, to currently certain delivery services, take fall on replenishment for has label produced the existing cost some XXXX been by product third-party. of first a able Camuto private orders
products And has design to which the of Camuto these Gift XXXX thus a finally, also Purchase goods. many third-party shifted eliminating the for to higher DSW production Giveaway of and additionally our markup with paid
Needless making profitability Brands. and ecosystem infrastructure, to and the many we products I integrate Designer competitive will ways needed As Investor am work into find to feel in on with results the improve together deliver pleased we say, outlined ability advantages are to and we Camuto Designer infrastructure Brands’ Designer to confident provide the into to progress more the the to further Camuto our I our integrating expertise the generate Day. Brands
comp a a vincecamuto.com at XX% XX% Finally, solesociety.com. and at Camuto comp saw
exciting overall the strong business. know While annual business in currently DTC DTC with see in growth is to million stalled opportunity at this this is there such revenue, substantial $XX we
infrastructure have no plan begun the with Camuto’s Camuto to There for of will as expertise has is a this teams be it at doubt big leverage for space. experienced just to business Camuto this DSW the game developed driver DTC digital map experience, teams been the help has in Our a Camuto working growth out peers. that and
marketing operating XX.X%. the Camuto ABG venture, Gross gross to Camuto pooled since came margin at in Camuto This model are the and the at paid joint includes new margin which royalties transaction. to
in we added hangover starting as margins heading and and risk increase improve that factory were delayed burn transaction. will we credit the cost Camuto’s premiums sold off expect of goods fall shipping and We beyond volume remaining of the discounting the into to
in businesses X.X% expense increased as Designer Brands’ nearly points. costs our the legacy addition to well the resulting small depreciation as related de-leveraging investment grew the this to Turning SG&A was standards. in demand related quarter. businesses added lease strong total of growth de-leverage Most $XX to to new million acquired some due P&L to basis customer digital IT from expenses, operating by servicing accounting of into our changes The XX by
All this. recognizing our pulled to that back service to been as integration You the administration, more. our accordingly with rates savings that expense identifying million opportunities of forward larger out Canada of forward several progress has We savings should supply already rate dollars and scale and continue remember providers distribution great as million look in Camuto chain, at We Camuto operate work we business. look total leadership annualized attacking and and both from have expense more office higher expense and being said are dollars enterprise. SG&A several of at dilutive a that made to
million ended balance $XXX.X with million ended shares. and driver our no investments acquiring quarter million square million acquisition to Inventory cash the down quarter $XXX.X $XXX.X in share we the and of cash the revolver first repurchases, of on sheet, year million and million the foot revolver compared last The activity X.X the the drawn the change $XX borrowings in the $XXX during last including on year. in XXXX and and of per primary to U.S. investments Turning with X.X%.
by quarter management last foot a this last the X% was Canada this to totaled acquisition. square per was million from quarter segment, inventory installed basis which was new our Camuto, on and retail Also from inventory the New $XX disciplines at upon year million, sheet down down inventory was year. totaled driven at balance $XX which which X.X%
During X the XXX in the opened quarter we DSW U.S. ending quarter, the with stores. stores
XX stores the up X quarter X to XXX Shoe balance Company X stores we to expect open In stores Company the closed additional and Shoe in store X We close and and opened during year. DSW stores the of X Canada. Canada, ending to with
the Shoe X the For and open expect store. balance stores additional Company X X closed year, to to Company we additional an Shoe of
versus last shares during the quarter million outstanding was last tax and average to year. million Our $XX XX.X% diluted total rate year XX.X% weighted $XX compared were
like provide I year would are on now to some our color full year. expecting balance guidance we for what the and the of
now of $X.XX $X.XX. ability have exceed highly the expense. shares or repurchase executed We confident moderately accretive share approximately to are activity outstanding nature we meet in be previously the higher range raising to which year year $XX net we weighted dollars during income to the We quarter, for guided. with the to reflects expect our the our average for the while guidance million to implied remain This interest
little of provide typically for year, to new different businesses quite their Camuto am consolidated the going As the are from balance P&L a we Canadian DSW. more the I legacy calendarizations than to and given are provide the and our color
to quarterly an provide Please note to quarterly now. the not this but we in relatively provide from LY do flat we color future, came QX in it seems perspective. Obviously of nor appropriate EPS intend necessarily level guidance for
in increase of inclusion an quarter which basically had Camuto with into operating as businesses was offset legacy the million of loss generated the which we income discussed. $X Our
don’t we same second the expect operating performance for previously, Designer mentioned I As quarter. in the year-over-year Brands
relatively have flat decline of program slightly of Camuto sales inclusion are QX margin QX year re-launch and We the and with lower to LY versus VIP last the is we driven expenses. the which a generate primarily to received by decent in planning our dollars to tailwind related anticipated one-time DSW at
$X year-over-year to of program the look margin only to approximately With recognized we we an our out Brands Designer million however. second Last over But be operating some in LY, related of to line did and work the adjustment being these we the been have a VIP exceed also to strong price that income our to in have than obviously selling QX margin updated all Canada under top comped fall around program. DSW’s quarter. response, near decline our in planning strongest more for takes the not income below the puts last year Things would reserve expected with VIP generate anticipate million we of million to as businesses we $X natural rewards QX. saw May doing key year. in little for assumptions all shake we new flat operating the the continues. our for for we at spring LY in have benefit anticipate absorb obviously far as don’t being for and re-launched we reg We DSW accretion are income $XX the million the segments and We operating quarter and of our $XX very we different year-over-year relatively by QX items
the at of losses first net that look of typically has year. earlier the quarter our mentioned we in calendarization Canada new I As businesses the
able forth were performance put buck year, that post gain. strong the this to the they Given they slight and trend
QX full QX by XX% representing QX sales their sales approximately the by year. quarter than weakest is QX. given far their However, business of of strongest their seasonality is their followed quarter
business. strong extremely in big of their their played kids part Given full year Canada, of back-to-school the ownership market a
price during starts QX. in boots earnest full Additionally, season
to shared operating leveraging in is the their full rate Op contribution relationships expense contribution QX, income structure majority QX there but and feel year and same the income QX income Brands operating that sales Their being performance loss of vendor amount half scale leveraging and income in improvements decent is fixed relatively Op a is income Brands Op a annualized total, Brands for in Given generated and their about impacted in We QX. dramatically from Designer runway there Designer opportunity with is relatively historically of their by services. running with improve believe we Designer of that ahead Canada.
DSW, QX for their their done not but sales representing For by more Camuto, business legacy become strongest they is and DSW. there of differently business only Camuto’s evolving approximately with as than total is model their XX% is quarter impacted sales. calendarized
the lowest similar continue other store and quarters relatively to earned swings to from business expenses. shipments on rate of the traditionally elimination holds. other. The year department industries each are three with excess due to The air being QX late to the rates margin of freight throughout the year We of improve the see and the margin make opportunities gross wholesale with closeouts
not be allowances grows margin business with vendor and burdened guaranteed as will Additionally, paybacks. DSW gross that with business
margin that have liquidate actually the through the particular avoid department infrastructure inventory Instead store of experienced the great a of rate. company to customers closeouts a leveraging DSW end, various Camuto’s would Brands greater past, shoe. to one was and far Designer the a have quarter net department products to allow liquidated a from the able desired To Brands sell customer and brand allowance own different than on Camuto Camuto the the of was this store would slower close seeing In that of position as of than a on now through recovery we name guaranteed their inventory shoe for turned at Designer channels. vendor retake allowance diverted the payments and gross
more a certain big like competitive become this advantage even As Camuto further synergies prevalent much takes hold will give our other and wholesalers. integration on over
expense side, the contribution Camuto’s operating volatility expense is highly the thus is ultimate within fixed the year. structure income impacted by sales On highly
although cost and appropriate very actions bring take marginalized. Finally, op their long-term mix the line, to be relatively their to in make would organization, income. bulk derived important, business, it the in high vast we a but Should little expense wholesale to for challenging overall business impact to business from the back business, Tight give volatility fixed margins to of little Camuto is this color that their contributes be an but as revenue business the Camuto. this there substantial income would operating of actually
without the cost business structure to much organization risk. incomes is profitable inventory first more the The
opportunities the increasing was happening there feel grow we business It with processes product superior of are changes core Camuto. believe along founded for given that the we what to was competency the marketplace and business. in and a upon Camuto previously, mentioned something As this remains
Finally, will the as have peers we business allow to substantially. infrastructure will leapfrog their under-penetrated the highly at expertise Camuto front Camuto built of they currently see DSW are the at that we and This sorely direct-to-consumer growing leverage here. and to
this As sales impact of grows, will it the flow business. the and profitability
I The would to to Camuto attention is last bring timing your intercompany impact point sales. like regarding of the
to the product As our our to purely any when remind such the want become product ultimately impact Camuto consolidated any is you produced timing end through to retail assortment timing, elimination I ultimately penetration meaningful more consumer. increases, sold just the quarter. of intercompany P&L eliminations in will is that given the flows which
Given at appreciate I comfortable you timing just produced, should out aligns our strategy something with you we past as very that with from it am sell look occurring. I to to this products as and more that this you future our call that is our that impact different expectations. something
call turn over to to that, Roger. like With I would the back
