Why Shoe Carnival Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Shoe Carnival, Inc. (NASDAQ:SCVL) reported Q2 sales of $294.62 million, down 5.7% YoY but beating consensus estimates. However, its EPS of $0.71 missed the analyst consensus of $0.84. The company cited soft traffic results in lower-income households and urban markets as a reason for the decline. It also reduced its 2023 net sales outlook and EPS guidance. Despite this, the company plans to add 6 to 10 new stores in FY23 and aims to surpass 500 stores by 2028.
August 29, 2023 | 12:23 pm
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Shoe Carnival's Q2 sales beat estimates but its EPS missed the consensus. The company also reduced its 2023 net sales outlook and EPS guidance, which could negatively impact its stock price.
Shoe Carnival's Q2 sales beat estimates, which is a positive sign. However, its EPS missed the consensus, which could negatively impact investor sentiment. Furthermore, the company reduced its 2023 net sales outlook and EPS guidance, which suggests that it expects future performance to be weaker than previously anticipated. This could lead to a decrease in its stock price.
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IMPORTANCE 80
RELEVANCE 100