DBI - Designer Brands rallies for second day in a row

Designer Brands ([[DBI]] +13.7%) soars on a strong day for the mall sector in general.Earlier in the day, Susquehanna moved off its Negative outlook on DBI with an upgrade to Neutral.Analyst Sam Poser: "The stock price now reflects the significant challenges facing the company coming out of the crisis. Further, we do not expect a recovery to pre-crisis levels for the foreseeable future. Covid-19 has accelerated what has been a structural shift in consumer tastes and demand for more athletic and athletic lifestyle product. Selling athletic product is not DBI's core competency."Poser says Designer Brands management recognizes the need to pivot its assortment more toward athletic and away from dress, with plans to have athletic encompass 40-50% of the fall assortment. The problem is 50% to 60% of DBI's business is still in struggling categories such as fashion and dress.Shares of Designer Brands are still down more than 70% YTD.

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Designer Brands rallies for second day in a row