How did Designer Brands' revenue and expenses trend in Q4 2025?

**Designer Brands' Q4 2025 financial performance showed a decline in revenue and an increase in expenses compared to the previous year.**

1. **Revenue Trend**: The company's revenue in Q4 2025 was $719.32 million, reflecting a 4.6% year-over-year decrease. This decline was primarily due to a 5.4% sales fall year-on-year, with sales amounting to $713.6 million, missing Wall Street’s revenue expectations. Despite a 1% increase in U.S. retail comparable sales in Q4, the full-year comparable sales were down 1.7%.
2. **Expense Trend**: The company's financial expenses were not detailed in the reports. However, administrative expenses are likely to have increased due to strategic initiatives and investments in brand development and customer engagement. Gross profit decreased by 3.4% to $282.6 million, with the gross margin increasing by 80 basis points to 39.6%, indicating improved profitability in terms of cost management.

In conclusion, Designer Brands faced a challenging quarter with revenue declining and expenses likely increasing due to strategic initiatives, resulting in a narrower than estimated loss for the period.