BUZZ-Telsey cuts PT on Designer Brands after weak Q2 results

Reuters09-12

** Brokerage Telsey Advisory Group cuts PT on Designer Brands to $6 from $10, citing "disappointing Q2 performance"

** Maintains "market perform" rating, says persistent weakness in dress and seasonal categories weighed on results

** Adds that DBI's increased focus on active and athleisure styles was unable to counter pressures on other categories

** With a challenging macro and footwear market, visibility remains difficult to achieving the prior FY26 targets on the original timeline - Dana Telsey, analyst with TAG

** DBI cut annual profit forecast and posted a fall in Q2 sales and net income on Wednesday

** Including session moves, stock down nearly 44% this year

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com;))

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