DB - Why Designer Brands Fell 52.3% in 2020
Shares of Designer Brands (NYSE: DB) fell 52.3% in 2020 as the coronavirus pandemic shut down retail outlets -- both its own stores and third party locations -- damaging the footwear company's sales trajectory.
With stay at home orders and lockdowns the norm of the day, there were few occasions for wearing fashion footwear, even after states began allowing the economy to reopen. Rather than the high-end shoes and casual wear Designer Brands was known for, consumers were choosing to buy footwear useful for fitness and outdoor activities.
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Why Designer Brands Fell 52.3% in 2020