Item 2.02 Results of Operations and Financial Condition. OnMarch 17, 2020 ,Designer Brands Inc. (the "Company") issued a press release announcing its consolidated financial results for the fourth quarter endedFebruary 1, 2020 . A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein. Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. Furthermore, the information in this Item 2.02 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended. Item 8.01 Other Events. Declaration of First Quarter Dividend The Company announced in the press release attached as Exhibit 99.1 that the Company's Board of Directors (the "Board") declared of a dividend of$0.10 per share, a reduction from the previous level of$0.25 per share, in order to preserve the Company's liquidity due to the potential impacts of COVID-19. The dividend will be paid onApril 10, 2020 to shareholders of record at the close of business onMarch 30, 2020 . The Company expects to return to normal investment and distribution policies as the Company returns to normalcy and volatility subsides, however the Company's Board will continue to review the dividend policy from time to time, and the declaration, timing, amount and payment of future dividends remain at the discretion of the Board.
Store Closures
The Company also announced the temporary closure of all its North American
retail locations, effective as of close of business on
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release of Designer Brands Inc., dated March 17, 2020 . 104 Cover Page Interactive Data File
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Designer Brands Inc. By: /s/Michelle C. Krall Michelle C. Krall Senior Vice President, General Counsel and Secretary Date:March 17, 2020
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