DSW parent Designer Brands shares jump 6.9% premarket after earnings blow past estimates

DSW parent Designer Brands Inc. shares DBI, -2.47% jumped 6.9% in premarket trade Tuesday, after the retailer blew past earnings estimates for its fiscal second quarter. The company, which designs and makes shoes and footwear under the Camuto group, posted net income of $42.860 million, or 55 cents a share, for the quarter to July 31, after a loss of $92.214 million, or $1.36 a share, in the year-earlier period.

7 million, also ahead of the $748.0 million FactSet consensus. The company said earnings were driven by increased store traffic as they reopened after the pandemic and by a strategy of gaining market share in athleisure and children.

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