Designer Brands operates nearly 650 stores under the Designer Shoe Warehouse (DSW) and The Shoe Company banners. Credit: Mike Mozart / Flickr (Creative Commons).

US-based shoe store chain Designer Brands has reported full-year net sales of $3.3bn for fiscal 2022 (FY22), up by 3.7% from fiscal 2021 (FY21).

The company’s comparable sales for the 12 months to 28 January grew by 4.4%.

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Designer Brands posted a gross profit of $1.1bn for FY22, while its operating profit for the year was $187.3m, down from $205.22m in FY21.

Its gross margin fell from 33.4% to 32.6% year-on-year.

Net income attributable to Designer Brands was $162.7m for the year, compared with $154.4m in FY21, while its adjusted net income was $133.7m.

The company’s earnings per diluted share (EPS) for the year was $2.26, up from $2.00 a year earlier.

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Designer Brands CEO Roger Rawlins said: “Our 2022 results clearly showcase the power and success of our brand building strategy with our Owned Brands growing over 32% to last year while delivering gross margins 400 basis points higher than those we saw in 2019.

“I am incredibly proud of our team and their tireless efforts, and I am excited about what lies ahead for Designer Brands.”

In the fourth quarter (Q4) of FY22, Designer Brands’ net sales were $760.5m, down 7.5% from $822.62m in the same period of FY21.

The company’s comparable sales also decreased by 5.5% in the quarter.

Designer Brands ended the year with 501 stores in the US and 138 in Canada.

Designer Brands incoming CEO Doug Howe said: “Although we are navigating through a volatile environment, we are well-positioned to offer great value and a diverse assortment of product to our customers as we head into 2023.

“We will continue to be prudent in managing our expenses and inventory and drive growth in our portfolio of increasingly diversified Owned Brands.”

Howe is due to succeed Roger Rawlins as CEO of Designer Brands after Rawlins’ resignation next month.