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Shares of Designer Brands (NYSE: DBI) were climbing today after the parent of DSW posted better-than-expected results in its second-quarter earnings report, even as sales fell.
As a result, the stock was up 5.2% as of 11:04 a.m. ET.
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During a challenging time for the footwear industry, Designer Brands, which also owns brands like Keds, Vince Camuto, and Lucky Brand, reported a comparable sales decline of 2.4%, as overall revenue fell 1.2% to $730.6 million, which missed estimates at $744.7 million.