The following is a summary of the Designer Brands (DBI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Designer Brands reported a decline in Q2 sales by approximately 3% versus last year.

• Comparable sales declined roughly by 1% versus last year, showing a sequential improvement.

• Gross margin contracted by 170 basis points to 32.8%, primarily affected by lower IMU on athletic and athleisure products.

• Adjusted operating income was $32.5 million compared to $62.6 million in the previous year.

Business Progress:

• Focused on expanding athletic and athleisure offerings, seeing significant growth in these categories.

• Opened new stores, including those under the Rubino legacy in Quebec, enhancing the Canadian market presence.

• Implemented strategic investments in marketing, particularly around back-to-school campaigns, and increased inventory for key athletic brands.

Opportunities:

• There is potential for continued growth in the athletic and athleisure categories, evidenced by strong sales and expanded inventory levels.

Risks:

• The overall level of improvement in sales and comps has been muted, primarily due to macroeconomic pressures and consumer caution.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.