Shoe Carnival (SCVL) Misses Q2 EPS by 5c

Shoe Carnival (NASDAQ: SCVL) reported Q2 EPS of $0.22, $0.05 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $231.9 million versus the consensus estimate of $237.22 million.

Comparable store sales increased 0.5 percent in the second quarter of 2016

“Our non-athletic footwear categories, particularly sandals, performed well in the second quarter. Shoe Perks, our loyalty program, continued to be a valuable tool for us as we increased shopping frequency and average order value across our most loyal customers to report an eighth consecutive quarterly increase in comparable store sales,” stated Cliff Sifford, Shoe Carnival’s President and CEO. “We remain focused on the execution of our multi-channel strategic initiatives to fuel future growth in sales and profitability. Going forward, we have confidence in our opportunities and our ability to capitalize on them while maintaining the financial flexibility to continue our commitment of returning value to our shareholders through share repurchases and consistent dividend payments.”

GUIDANCE:

Shoe Carnival sees FY2016 EPS of $1.58-$1.65, versus the consensus of $1.62. Shoe Carnival sees FY2016 revenue of $1.012-1.016 billion, versus the consensus of $1.02 billion.

For earnings history and earnings-related data on Shoe Carnival (SCVL) click here.

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