Footwear group bemoans ‘meaningful headwinds’
18/12/2019
Group CEO Roger Rawlins said: "We faced several meaningful headwinds during the third quarter that impacted our results and will likely continue for the upcoming quarters.
“The near-record warm weather during our largest and most profitable quarter affected every segment of our business. And, while we are extremely proud of the results we've achieved, substantially mitigating the very material footwear tariffs that were recently enacted, the mitigation effort itself has had repercussions which have weighed heavy on our results."
"Camuto organization delivered their first positive operating income contribution in the quarter and the incredible Camuto designed and sourced exclusive brand product is being delivered to our warehouses currently and will be customer facing in just a few weeks.
"We are continuously seeking ways to increase our market share," Mr. Rawlins concluded, "all while reducing costs across our entire organisation and mitigating tariffs.
Designer Brands operates 1,000 stores under the DSW Designer Shoe Warehouse, The Shoe Company and Shoe Warehouse banners and services footwear departments throughout the US.
It designs and produces footwear and accessories through Camuto Group, which owns licensing rights for the Jessica Simpson footwear business, and footwear and handbag licences for Lucky Brand and Max Studio. Designer Brands also owns a stake in Vince Camuto, Louise et Cie, Sole Society, CC Corso Como, and Enzo Angiolini.
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