Total sales fell 10.7% to $742.1 million, coming in below the consensus of down 9.4% to $752.1 million.

The more conservative outlook is likely prudent at this point, in the analyst’s view, given ongoing uncertainties and challenges in the macro-operating environment that continue to impact the mass footwear channel.

The analyst noted that the move to lever up to complete the buyback in this environment certainly bucks the trend from retailers year-to-date, primarily focused on cash flow preservation along with debt and expense reduction to offset near-term pressures.

While the analyst believes the company's long-range plan remains intact and provides visibility to the financial framework beyond this year, the plan is almost entirely leveraged to somewhat consistent and rapid growth in the Camuto Group, particularly in light of the secular headwinds to the national brand business.

Price Action: DBI shares are trading higher by 20.88% at $8.72 on the last check Thursday.