February 16, 2022
Net income was off 16% in the final quarter at $154,853,000 against $183,330,000, which includes $33.0 million and $127.7 million, respectively, in tax benefits, on 43% higher revenues of $586,626,000 up from $411,506,000.
Fitness segment sales were flat for the fourth quarter, coming in at $470,146,000 against $470,811,000 as advanced wearable growth was offset by lower cycling sales.
Adjusted sales for sporting goods/hobby/book and music stores were up just 1% to start the year at $8,692 million from $8,579 million in Jan. 2021, but were 29% higher than in Jan. 2020 before the pandemic hit, according to Commerce Dept. data.
DSW’s parent Designer Brands is investing $2 Million in JEMS by Pensole, the first Black-owned footwear factory in the U.S. to produce shoes designed by Pensole Lewis College graduate students and sold exclusively at DSW.