Shoe Carnival Profit In Line, Sales Misses; Lifts Lower End Of FY EPS Guidance

(RTTNews) - Footwear retailer Shoe Carnival Inc (SCVL) on Wednesday reported first-quarter net earnings of $10.4 million or $0.52 per share compared with $9.2 million or $0.45 per share last year.

Revenues for the quarter were up 7.2 percent at $252.8 million compared with $235.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.52 per share on revenues of $254.6 million for the quarter. Analysts' estimates typically exclude special items.

Comparable store sales increased 3 percent in the quarter.

For the full year 2015, the company raised the lower end of its earnings guidance by 2 cents, now expecting a range of $1.42 to $1.48 per share. It continues to expect sales of $977 million to $991 million and comparable sales growth of 1.5 percent to 3 percent.

Analysts expect earnings of $1.47 per share on revenues of $991.6 million for the year.