Designer Brands Shares Surge 40% After Strong Q3 Earnings

(RTTNews) - Designer Brands Inc. (DBI) jumped 40.25 percent to $6.80, up $1.95, on Tuesday, after the company reported stronger third-quarter earnings.

Net income rose to $18.22 million, or $0.35 per share, compared with $13.01 million, or $0.24 per share, a year earlier. Adjusted earnings increased to $19.62 million, or $0.38 per share, even as revenue slipped 3.2% to $752.41 million from $777.19 million.

DBI is currently trading at $6.80 after opening at $5.96. The stock has moved between $5.82 and $6.95 today on the New York Stock Exchange. Volume reached 6,102,037 shares, well above the average daily volume of 735,136.

The stock's 52-week range is $2.17 to $6.95, with shares now trading at the top end following the earnings beat.