Operator
Good day and welcome to the Designer Brands Inc. 1Q 2021 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Stacy Turnof. Please go ahead.
Stacy Turnof
Senior Vice President
Good morning. Earlier today, the company issued a press release comparing results of operations for the 13-week period ending May 1st, 2021 to the 13-week period ending May 2nd, 2020. 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 Off
Designer Brands Inc Reports First Quarter 2021 Financial Results
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Dive Brief:
In an effort to rightsize its store footprint, Designer Brands on Tuesday said in an earnings call to analysts that the company expects to close nearly 65 stores over the next four years as leases expire. The retailer said that number includes 24 locations it will look to close in 2021.
The company, which owns Designer Shoe Warehouse and Shoe Warehouse among other brands, reported that fourth quarter net sales decreased 26.6% year over year to $609.4 million. For the full year, net sales decreased 36% to $2.2 billion.
For the quarter, the retailer reported a net loss of $134 million, and for the full year, the company reported a net loss of $488.7 million.
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Sequential improvement in results continued in the fourth quarter
Athletic comparable sales in the U.S. Retail segment were up 19% in fourth quarter fiscal 2020, improved from the 5% increase in the third quarter of this year
COLUMBUS, Ohio, March 16, 2021 /PRNewswire/ Designer Brands Inc. (NYSE: DBI) (the Company and Designer Brands ), one of North America s largest designers, producers and retailers of footwear and accessories, announced financial results for the three months ended and fiscal year ended January 30, 2021, compared to the three months ended and fiscal year ended February 1, 2020.
Chief Executive Officer Roger Rawlins, stated, Designer Brands fourth quarter continues our story of sequential improvement in unprecedented market conditions. I am proud of our team s exceptional execution of our near-term strategy as we continued to pivot our assortment to athleisure and kids, focused on the Top 50 brands in footwear and leaned even further i