Why Designer Brands' Stock Is Down Today
Shares of big-box shoe retailer Designer Brands (NYSE: DBI) opened lower on Thursday, after the company reported a wider loss than Wall Street had expected.
As of 11 a.m. EDT, Designer Brands' shares were down about 4.1% from Wednesday's closing price.
Designer Brands reported earnings for the quarter ended May 4 before the market opened on Thursday, and they weren't what Wall Street had expected. On a non-GAAP adjusted basis, Designer Brands lost $1.83 per share in the quarter as revenue fell 44.7% from a year ago to $482.8 million.
Source Fool.com
