DBI - Here's Why Designer Brands Stock Got Crushed Today
Shares of shoe retailer Designer Brands (NYSE: DBI) got crushed on Tuesday after the company reported financial results for the second quarter of 2021. I wish I could say that every stock move has a logical explanation. But sometimes investors, myself included, are left scratching their heads, as is the case with Designer Brands stock's 8% drop today.
Designer Brands' second-quarter results actually looked relatively good. During the quarter, the company's net sales surged 67% year over year. Granted, as a brick-and-mortar shoe retailer, its sales were down a lot last year, making for an easy comparison. That said, net sales were only down 4.5% from the second quarter of 2019, meaning the business has almost fully rebounded.
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Here's Why Designer Brands Stock Got Crushed Today