Why Shoe Carnival Shares Are Sliding Today
Portfolio Pulse from Nabaparna Bhattacharya
Shoe Carnival (NASDAQ:SCVL) shares are down after reporting disappointing Q1 FY23 results, with sales declining 11.4% YoY to $281.18 million and EPS of $0.60, missing consensus estimates. The company lowered its FY23 guidance due to unfavorable weather and consumer pressure from inflation and lower tax refunds.
May 24, 2023 | 2:14 pm
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NEGATIVE IMPACT
Shoe Carnival shares are down after reporting weak Q1 FY23 results and lowering its FY23 guidance due to unfavorable weather and consumer pressure.
Shoe Carnival reported lower-than-expected Q1 sales and earnings, which is likely to negatively impact its stock price in the short term. Additionally, the company lowered its FY23 guidance due to unfavorable weather and consumer pressure from inflation and lower tax refunds, which could further dampen investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100