Designer Brands Inc.

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Investigation Details

On December 5, 2023, Designer Brands announced financial results for the third quarter ended October 28, 2023, disclosing a drop in revenue of 9.1% year-over-year. The Company noted that performance was impacted by “a footwear market that contracted for the first time since COVID coupled with unseasonably warm weather, which significantly reduced customer demand for shoes.” Following this news, the price of Designer Brand’s stock dropped. Our firm is investigating whether executives at the company misrepresented or failed to timely disclose material and adverse information to investors.