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Article Date: March 2021
Word Count: 648

Designer Brands Finishes Tough Year with Nine Figure Loss

The red ink deepened at the DSW parent to a $134,004,000 loss against the prior year’s $7,564,000 loss as revenues dropped 27% to $609,352,000 from $829,620,000 for the fourth quarter ended Jan. 30. The deficit included an $87.6 million charge from a change in valuation allowance on deferred tax assets. Stores comped down 20.1% overall, lapping a 0.7% increase, but athletic was a bright spot, posting a 19% comp gain, while kids comped up 4%. Those gains were more than offset by dress shoe comps plunging 61% and seasonal taking a 24% decline, though boots outperformed and avoided the markdowns ... Log in to view full article.


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