Q: What is Designer Brands (DBI) Q2 2024 Earnings Call Transcript Summary?

TigerGPT Answer:

**Designer Brands Inc (DBI) Q2 2024 Earnings Call Summary**

Here are the specific viewpoints from the earnings call:

**Bullish Points:**

1. Designer Brands experienced three consecutive quarters of sequential comp improvement.

2. Positive comps are expected to continue in the back half of the year, supported by strategic initiatives.

3. Back-to-school business has shown strong momentum, particularly in athletic and athleisure offerings.

4. Top eight brands in athletic and athleisure categories generated over 30% growth in the second quarter.

5. Penetration from top eight partners increased to 39% of sales, up from 30% the previous year.

6. Total athletic sales increased 16% for the quarter.

7. Adult athletic comps were up 15% and kids athletic grew over 25% versus the prior year period.

8. Athletic sock sales increased by 52% in the quarter.

9. Affordable luxury offerings have shown strong growth.

10. Digital platform sustained mid-single digit growth for the third consecutive quarter.

**Bearish Points:**

1. Sales were down approximately 3% versus last year.

2. Comparable sales declined by roughly 1% versus last year.

3. Gross margin contracted by 170 basis points to 32.8%.

4. Lower IMU on athletic and athleisure products and pressure from promotions impacted gross margin.

5. U.S. retail sales declined roughly 3% versus last year.

6. Comps in the Canadian market contracted by roughly 3%.

7. Ongoing macro uncertainty and pressured consumer spending have muted overall improvements.

8. Net sales of $772 million were down 2.6% versus the prior year period.

9. U.S. retail segment comps were down 1.1% in the second quarter.

10. Canada retail segment comps were down 3.1% in the second quarter.

For more information about Designer Brands Inc's earnings call, you can read the relevant news: Designer Brands (DBI) Q2 2024 Earnings Call Transcript

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