Designer Brands shares are trading higher after the company announced a share buyback of up to $100 million, offsetting weak earnings and a guidance cut.
Portfolio Pulse from Benzinga Newsdesk
Designer Brands announced a share buyback of up to $100 million, offsetting weak earnings and a guidance cut. This has led to the company's shares trading higher.
June 08, 2023 | 3:17 pm
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Designer Brands' shares are trading higher after announcing a $100 million share buyback, offsetting weak earnings and a guidance cut.
The announcement of a $100 million share buyback has a positive impact on Designer Brands' stock price, as it shows the company's confidence in its future prospects and commitment to returning value to shareholders. This offsets the negative impact of weak earnings and a guidance cut, leading to a higher stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100