Shares of Designer Brands (DBI) lost more than a fifth of their value Tuesday after the DSW parent reported first-quarter results that missed analysts' estimates and withdrew its fiscal 2025 outlook.

Shares of Designer Brands Inc. fell sharply on Tuesday, after the company that owns the DSW footwear chain and Keds sneakers became the latest shoe-industry player to withdraw its full-year outlook, citing “persistent instability” and continued pressure on shoppers.

Designer Brands Inc., the parent company of the DSW, The Shoe Co., and Rubino retail brands, and owner of the Topo Athletic, Keds, Le Tigre, Hush Puppies, and other footwear brands, said it experienced a soft start to 2025 amid an unpredictable macro environment and deteriorating consumer sentiment.