Designer Brands Inc. (NYSE:DBI) shares traded lower after the company reported mixed first-quarter results, with earnings topping expectations as sales came in just shy of estimates.

Earnings Beat, Sales Roughly In Line

Designer Brands reported first-quarter adjusted EPS of 7 cents, beating the 4-cent estimate. Sales came in at $696.350 million, just below the $696.815 million estimate.

Net sales rose 1.4% year over year to $696.4 million, up from $686.9 million a year earlier. GAAP net income attributable to Designer Brands was $1.2 million, or 2 cents per share.

Adjusted net income was $3.8 million, or 7 cents per share. Total comparable sales declined 1.1%.

CEO Doug Howe said the company's "strong start to the year was underscored by double-digit sales growth in our Brand Portfolio segment and encouraging stabilization in ...