Designer Brands continued to record sequential improvement in top-line results for the third quarter, as the company made progress on its transformation strategy. 

The company, which owns brands such as Topo Athletic, Keds and Vince Camuto, saw net sales decrease 3.2 per cent to $752.4 million during the quarter ended November 1. This marked another sequential improvement compared to the 4.2 per cent fall in the second quarter.

Comparable sales slid 2.4 per cent, following a 5 per cent drop in the previous quarter.

CEO Doug Howe said the third-quarter performance represents another meaningful step forward in the company’s transformation.

“Stronger consumer demand and improved in-store execution drove improved comparable sales in the third quarter compared to the second quarter,” Howe added.

The company’s gross profit increased to $339.6 million from $333.8 million a year earlier. Attributable net income rose 40 per cent to $18.2 million.

As of November 1, the company operated 672 stores across the US and Canada, three fewer than a year ago.

For the full year, Designer Brands expects net sales to decrease 3-5 per cent.

“While macroeconomic pressures persist, we are confident in our ability to navigate the near-term environment and continue making progress on our long-term strategies,” said Howe.