Why Shares Of Designer Brands Are Trading Higher
Portfolio Pulse from Ryan Gustafson
Designer Brands Inc. (NYSE:DBI) shares are trading higher after announcing a buyback of up to $100 million, despite weak earnings and a guidance cut. The company reported adjusted quarterly earnings of 21 cents per share, missing analyst estimates, and lowered its fiscal year 2023 earnings per share guidance.
June 08, 2023 | 7:40 pm
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Designer Brands Inc. (DBI) shares are up after announcing a $100 million buyback, despite weak earnings and a guidance cut.
The announcement of a $100 million buyback has led to an increase in DBI's share price, despite weak earnings and a guidance cut. The buyback signals confidence in the company's future and provides support for the stock price in the short term.
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