Designer brands director sells $145,640 in company stock

In a recent transaction, Harvey L. Sonnenberg, a director at Designer Brands Inc. (NYSE:DBI ), sold 22,000 shares of the company's Class A Common Shares at a price of $6.62 each, amounting to a total sale value of $145,640. This sale, which took place on September 17, 2024, was disclosed in a regulatory filing with the Securities and Exchange Commission.

Following the transaction, Sonnenberg's direct ownership in the company stands at 3,180 shares. The sale price of $6.62 per share reflects the market value of Designer Brands' stock on the date of the transaction.

Designer Brands Inc., known for its retail shoe stores, operates under the ticker symbol NYSE:DBI. The company's business address is located at 810 DSW Drive, Columbus, Ohio.

Investors often monitor insider transactions as they can provide insights into how executives view the company's stock value and future performance. The recent sale by Sonnenberg is a transaction of interest to those following Designer Brands' financial developments.

The filing was signed by Katherine Alfano, Attorney-in-Fact, on September 18, 2024.



In other recent news, Designer Brands Inc. reported a year-over-year net sales decrease of 2.6% to $772 million in the second quarter, despite positive trends in athletic and kids categories. The company adjusted its full-year earnings guidance to between $0.50 and $0.60 per share, down from the previously projected $0.70 to $0.80. Amid these developments, William Blair maintained its Market Perform rating for the company. The analyst from William Blair noted that despite not meeting the initial recovery speed projected by management, Designer Brands is on an upward trajectory, with potential for momentum as the year progresses. This is based on positive comparable store sales, a key contributor to improving operating margins, and the company's valuation at 8 times the analyst's projected earnings per share for the following year. The company's strategic shift from dress and seasonal footwear to athletic and casual categories is underway, and management is optimistic about returning to earnings growth in the latter half of 2024. These are the recent developments for Designer Brands Inc.
InvestingPro Insights


Designer Brands Inc. (NYSE:DBI) has experienced a notable insider transaction, with director Harvey L. Sonnenberg selling a significant number of shares. In light of this event, it is valuable to consider the company's current financial metrics and analyst insights provided by InvestingPro.

InvestingPro Data shows that Designer Brands Inc. has a market capitalization of $360.75 million, with a negative P/E ratio of -75.23. This indicates that the company has not been profitable in the last twelve months as of Q1 2023. Additionally, the company's revenue stands at $3.059 billion, but it has seen a slight decline in growth, with revenue growth at -3.19% over the same period. Despite these challenges, the company's gross profit margin remains relatively healthy at 31.44%.

InvestingPro Tips suggest that Designer Brands operates with a significant debt burden and analysts have revised their earnings expectations downwards for the upcoming period. However, it's worth noting that the stock has seen a significant return over the last week, with a price total return of 19.81%. Analysts predict the company will be profitable this year, which could be an indicator of potential recovery and a point of interest for investors.

For investors seeking more detailed analysis and additional insights, there are further InvestingPro Tips available on the company's profile at https://www.investing.com/pro/DBI, which can help in making more informed investment decisions.

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Source: Investing.com