Why Designer Brands Plunged 24% Today

The stock of Designer Shoe Warehouse (DSW) parent Designer Brands (NYSE: DBI) is down 24% as of 10:50 a.m. EDT, after it announced second-quarter results that disappointed investors. 

Designer Brands reported that second-quarter comparable-store sales dropped 42.7% and an adjusted net loss of $1.28 per share. Results lagged consensus estimates of a comp sales drop of 26.5% and an expected loss of $0.85 per share, according to FactSet.

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Source Fool.com