Designer Brands (DBI) shares were down nearly 15% in premarket Tuesday despite the company swinging to fiscal Q1 adjusted earnings and posting higher revenue.

The company reported fiscal Q1 adjusted earnings of $0.07 per diluted share, swinging from an adjusted loss of $0.27 a year earlier.

Two analysts polled by FactSet expected adjusted EPS of $0.03.

Net sales for the quarter ended May 2 were $696.4 million, compared with $686.9 million a year earlier.

Two analysts surveyed by FactSet expected $696.8 million.

The company reaffirmed its fiscal 2026 earnings forecast of $0.28 to $0.38 per share. A single analyst surveyed by FactSet expects $0.45.