Designer Brands Inc. (NYSE:DBI) Q2 2022 Earnings Conference Call August 31, 2022 8:30 AM ET

Company Participants

Jessica Miller - Investor Relations

Roger Rawlins - Chief Executive Officer

Doug Howe - President of DSW

Jared Poff - Executive Vice President and Chief Financial Officer

Conference Call Participants

Steven Marotta - CL King & Associates, Inc.

Jay Sole - UBS

Dana Telsey - Telsey Advisory Group LLC

Operator

Good morning, everyone, and welcome to the Designer Brands Incorporated 2Q 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note, today's event is being recorded.

At this time, I'd like to turn the conference call over to Jesse Miller, Senior Director of Investor Relations. Please go ahead.

Jessica Miller

Good morning. Earlier today, the Company issued a press release comparing results of operations for the 13-week period ended July 30, 2022 to the 13-week period ended July 31, 2021. Please note that remarks made about the future expectations, plans and prospects of the Company constitute forward-looking statements. Results may differ materially due to various factors listed in today's press release and the Company's public filings with the SEC. The Company assumes no obligation to update any forward-looking statements.

Joining us today are Roger Rawlins, Chief Executive Officer; Jared Poff, Chief Financial Officer; and Doug Howe, President of DSW.

Now let me turn over the call to Roger.

Roger Rawlins

Good morning, and thank you, everyone for joining us today. I want to begin by saying thank you to all our associates across the globe. We are operating in an incredibly dynamic environment and your ability remain nimble on your feet during these last couple of years continues to power our growth.

We are very pleased with our second quarter results and our continued momentum against our long-term plan of doubling sales of our owned brands by 2026, while maintaining sales levels of national brands as we continue to strengthen relationships with our top partners.

We ended the quarter with net sales up 5% compared to the second quarter of 2021, which is on top of last year's record net sales gain of 67% and reported a healthy adjusted diluted EPS growth of 11% compared to the second quarter of 2021. Before we dive into the details of our performance, I'm going to take a moment to address the current macro environment we are operating in.