Why Designer Brands Stock Tumbled Today

Designer Brands has been in the process of a turnaround for several years, reformulating its portfolio by acquiring brands like Keds and Camuto Group, the parent of Vince Camuto. However, the results of focusing on owned brands in its new portfolio strategy have been mostly underwhelming as the stock has traded sideways for the last several years. That pattern continued in the first quarter with revenue rising 0.6% to $746.6 million, which topped the consensus at$741.6 million, while comparable sales fell ...