Telsey cuts PT on Designer Brands after weak Q2 results

Designer Brands

12/09/2024 15:25

** Brokerage Telsey Advisory Group cuts PT on Designer
Brands  DBI.N  to $6 from $10, citing "disappointing Q2
performance"
    ** Maintains "market perform" rating, says persistent
weakness in dress and seasonal categories weighed on results
    ** Adds that DBI's increased focus on active and athleisure
styles was unable to counter pressures on other categories
    ** With a challenging macro and footwear market, visibility
remains difficult to achieving the prior FY26 targets on the
original timeline - Dana Telsey, analyst with TAG 
    ** DBI cut annual profit forecast and posted a fall in Q2
sales and net income on Wednesday
    ** Including session moves, stock down nearly 44% this year

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))