Designer Brands reports record Q3 profits
15/12/2021
Net sales increased 31% to $853.5 million in the three months ending October 31, and profit increased to $313.6 million.
CEO Roger Rawlins said: "Designer Brands' outstanding third quarter results demonstrate the efficacy of our strategic plans that were set in motion prior to the onset of the pandemic and accelerated over the last 18 months.
“We continue to see strength in our key assortment distortion areas including athletic and athleisure, kids’, and men's, as well as a return to growth in our vertical brands.
"We are energised by the strength of our strategy and our record-setting results, despite unseasonably warm weather and industry-wide supply chain challenges.”
During the quarter, it opened four stores in the US and one in Canada, and closed four stores in the US, resulting in a total of 515 US stores and 144 Canadian stores.
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