Diamonds and Dogs

9/7/23

Footwear is still in. Designer Brands (DBI) is up 16% following better than expected earnings and reaffirmed sales and earnings. The owner of DSW and Keds saw improvement in both sales and profitability in the second quarter. The company is rolling out our new athletic and athleisure offerings while also elevating their relationship with Nike.

Apple (AAPL) is a dog for a second straight day. The iphone maker is down 3% after falling over 3% yesterday as Bloomberg reports the Chinese are aiming to broaden its ban on the use of Apple devices by government officials to state and federal agencies. Separately, The Wall Street Journal reported that the company plans to raise the price of its next line of iPhones by $100.

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