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Why Designer Brands Stock Soared Today

TheMotleyFool

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Why Designer Brands Stock Soared Today: https://g.foolcdn.com/editorial/images/846368/retail-gettyimages-1063212632.jpg

Shares of Designer Brands (NYSE: DBI) rocketed 48% higher on Tuesday after the footwear retailer's profits topped investors' expectations.

Image source: Getty Images.

Designer Brands' net sales declined by 3.2% year over year to $752.4 million in its fiscal third quarter ended Nov. 1. Total comparable sales at stores open at least 14 months dropped 2.4%. However, that was a significant improvement from the 5% decline in comps in the second quarter.

Source Fool.com