Designer Brands Slips On Sales Miss And Raised Expenses, Analyst Concerned About Dependence On Camuto Group's Rapid Growth
Portfolio Pulse from Shivani Kumaresan
Designer Brands Inc (DBI) reported a 10.7% decline in total sales to $742.1 million, missing consensus estimates. Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating with a price target of $8, expressing concerns about DBI's dependence on Camuto Group's rapid growth.
June 08, 2023 | 6:07 pm
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Designer Brands missed sales estimates with a 10.7% decline in total sales. Telsey Advisory Group analyst reiterated a Market Perform rating and a price target of $8.
The missed sales estimates and concerns about dependence on Camuto Group's rapid growth may negatively impact DBI's stock price in the short term. The analyst's Market Perform rating and price target of $8 also indicate a cautious outlook for the stock.
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