5 World-Class Shoe Stocks to Buy Now

Below we present the list of 5 World-Class Shoe Stocks to Buy Now. For our methodology and a more comprehensive list please see 10 World-Class Shoe Stocks to Buy Now.

5. Designer Brands Inc. (NYSE:DBI)

Number of Hedge Fund Shareholders: 30

Designer Brands Inc. (NYSE:DBI) is one of the largest footwear companies in North America, operating some 500 Designer Shoe Warehouse stores as well as the shoe departments in hundreds of other stores. The company also operates e-commerce websites for the U.S. and Canadian markets that include a loyalty rewards program.

Designer Brands Inc. (NYSE:DBI) performed well during the pandemic thanks to its flexible business model, as it shifted to the production of athletic-based footwear to meet the growing demand in the market for workout shoes. It has since shifted back to a heavier focus on fashion-oriented footwear. The company aims to double sales by 2026, with expectations that its The Warehouse Reimagined shop-in-shops concept will contribute 30% of its top-line growth by that time.

Hedge funds have rapidly grown more bullish on Designer Brands Inc. (NYSE:DBI) in recent quarters, as their ownership of the company has more than doubled since the end of September 2020. Lee Ainslie’s Maverick Capital and Michael Gelband’s ExodusPoint Capital were some of the funds to initiate new stakes in DBI during Q2.