NKE - Designer Brands May Be Pinched By Reduced Discretionary Spending In Q2: Analyst Warns | Benzinga

Telsey Advisory Group analyst Dana Telsey reiterated the Market Perform rating on Designer Brands Inc. (NYSE: DBI), with a price target of $8.

DBI will report second-quarter results on Thursday, September 7, before the market opens.

While the first quarter was expected to be pressured, trends ended up being more challenged than anticipated, according to the analyst. 

In Q2-to-date (through the first week of June), DBI saw this trajectory persist, with initial trends below prior plans, Telsey adds.

As a result, management expected the discretionary spend recovery may be even further delayed (prior expectations looked for a soft landing in Q3 and a return to growth in Q4), mentioned the analyst.

For the quarter to be reported, the analyst looks for Full story available on Benzinga.com