EARNINGS (LOSS) PER SHARE
Basic earnings (loss) per share is based on net income (loss) attributable to Designer Brands Inc. and the weighted average of Class A and Class B common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock-based compensation awards calculated using the treasury stock method.

The following is a reconciliation between basic and diluted weighted average shares outstanding, as used in the calculation of earnings (loss) per share attributable to Designer Brands Inc., and the anti-dilutive shares excluded from the calculation of diluted earnings (loss) per share attributable to Designer Brands Inc.:
(in thousands)202520242023
Weighted average basic shares outstanding
49,136 53,657 61,296 
Dilutive effect of stock-based compensation awards — 2,079 
Weighted average diluted shares outstanding
49,136 53,657 63,375 
Anti-dilutive shares5,358 5,304 2,646 

Historical Timeline

Fiscal YearFiled
2026Mar 30, 2026Showing above
2025Mar 24, 2025
2020May 1, 2020
2019Mar 26, 2019
2018Mar 23, 2018
2017Mar 23, 2017
2016Mar 24, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.