Laura Denk has been named president of DSW Designer Shoe Warehouse and executive vice president of Designer Brands.
Denk most recently was the chief merchandising officer at Michaels and has held leadership positions at Claire’s and Macy’s, according to a company announcement.
Denk will join the company on July 24 to lead DSW’s U.S. stores and e-commerce channel, as well as focus on the company’s owned and top national brands. She will report to Designer Brands CEO Doug Howe.
"The opportunity to partner with the DSW team to transform and reimagine the customer experience, especially by shining a light on Designer Brands' unique Owned Brands within DSW will help us build value for our customers and our shareholders,” Denk said in a statement.
Designer Brands last year revealed its strategy to double its private label sales and deliver on a five-year financial strategy to reach $4 billion in revenue by fiscal 2026.
This spring, Designer Brands underwent layoffs as it continues to work to “pare back every line of spending possible,” including labor costs and management incentive compensation, according to CFO Jared Poff. The company would not confirm to Retail Dive the number of workers impacted.
In its latest quarter, Designer Brands’ net sales decreased 10.7% year over year to $742.1 million, while comparable sales decreased by 10.4%. The company also announced its intention to repurchase up to $100 million in Class A shares and to enter into a $135 million term loan agreement to fund the offer.
