What happened Shares of Designer Brands (NYSE: DBI) soared on Tuesday, peaking at a 12.7% gain near 1:20 p.m. EST. The company behind the Designer Shoe Warehouse retail chain didn't have any significant news of its own today. Instead, the stock surged as part of a nearly universal market rise as investors contemplated the prospect of having several coronavirus vaccines broadly available fairly soon. So what As a vendor of premium clothing, Designer Brands suffered dramatically lower sales during the lockdowns and stay-at-home measures in the spring and summer of 2020. The company bolstered its liquidity in August by taking on more debt, and the usual fall season strategies have been replaced by a hard shift toward profitable product lines, such as athleisure and kidswear. Nonetheless, Designer Brands could use a quick return to normalcy, and a successful selection of coronavirus vaccines would be a big step in that direction. Image source: Getty Images. Now what It's no surprise that Designer Brands' investors are embracing the positive vaccine news. The stock has more than tripled from the multi-year lows in March, but we're still looking at a 47% year-to-date drop in share prices. Designer Brands needs the good coronavirus news to keep coming, and faster progress would be better. In the meantime, this troubled business is walking a risky tightrope. 10 stocks we like better than Designer Brands Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Designer Brands Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Anders Bylund has no position in any of the stocks mentioned. The Motley Fool recommends Designer Brands Inc. The Motley Fool has a disclosure policy.Source