The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mauricio Serna Vega - UBS Investment Bank, Research Division - Analyst
: Great. First, I wanted to ask if you could provide maybe some color on what you see on quarter-to-date performance. Have you seen any (inaudible)
versus Q2?
And if we think about second half, should we -- do you see like any big difference between the sales growth in Q3 and Q4?
Then just on the margins, you talked about SG&A, probably the SG&A rate probably being a little bit more pressured because of the marketing and
the launching of the website. So does that mean that SG&A dollar growth will accelerate in the second half? Or how should we think about that?
And then just lastly, on the balance sheet, very encouraging to see all the buybacks continuing in Q3. Is there like a potential for even more given
how there's also the higher leverage on the balance sheet at this point?
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SEPTEMBER 07, 2023 / 12:30PM, DBI.N - Q2 2023 Designer Brands Inc Earnings Call
Question: Mauricio Serna Vega - UBS Investment Bank, Research Division - Analyst
: Great.
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: Jared, just sticking with that last thought, the IRS refund, the primary use, is it in addition to that or how are you thinking about that one as well?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: Great. And then I want to make sure I understand kind of the balance of guidance. So you have a lot of tailwinds between comparisons and Nike,
et cetera. But the consumer sort of takes a leg down here. Would that be sort of detrimental to guidance at this point, just given some of the rhetoric
on?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: And the last one, we haven't talked about sort of the loyalty program in a while. I'm just kind of curious how these new brands interact with or
essentially built on the back of the royalty number that you have and how much of your sales sort of happens (inaudible). Is there anything you
can talk about there maybe, Doug?
Question: Dylan Douglas Carden - William Blair & Company L.L.C., Research Division - Analyst
: Got it. And then just another one just quickly here. Nike, can you kind of talk about maybe what the business was historically but I think I'm right
in this is sort of a new relationship with Nike reengaging in this channel. How should -- how are you thinking about the scale, the pace of the
dynamics of that relationship kind of coming -- I think it launches this fourth quarter, right?
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