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DBI - Why Designer Brands Was Up as Much as 10% Today
Designer Brands Inc. Class A
Shares of Designer Brands (NYSE: DBI) soared 10% higher in morning trading Monday before paring back the gains by about half as the noon hour approached.
The executive chairman of the luxury footwear designer and manufacturer, Jay Schottenstein, reported after the market closed Friday that he had acquired some 900,000 shares of company stock at around $14 per share. Joseph Schottenstein, a Designer Brands director, also purchased 273,000 shares at about a similar price.