DBI - Why Designer Brands' Stock Has Surged This Week
Shares of footwear giant Designer Brands (NYSE: DBI) are surging this week after the company announced that two well-regarded top executives have moved into expanded roles to support the ongoing overhaul of a key subsidiary.
As of noon EDT on Friday, Designer Brands' stock was up about 17.5% on the week.
Designer Brands (DBI) said on Tuesday that its vice chairman, Debbie Ferree, has been named president of its subsidiary Camuto Group, acquired in 2018. A revamp and relaunch of the Camuto Group (which includes the Vince Camuto brand, as well as footwear licenses for Jessica Simpson and Lucky Brand) is key to DBI's post-pandemic growth plan.
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Why Designer Brands' Stock Has Surged This Week