Shoe Carnival Expects 2024 Net Sales Of $1.21B-$1.25B Vs. $1.23B Consensus, Comparable Store Sales Down 3%-1% YoY; Sees Adjusted EPS Of $2.55-$2.75 Vs. $2.84 Consensus
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Shoe Carnival forecasts Fiscal 2024 net sales of $1.21B-$1.25B, slightly below the $1.23B consensus, with comparable store sales expected to decrease by 3%-1% YoY. The company anticipates adjusted EPS of $2.55-$2.75, under the $2.84 consensus. Growth is expected from the Rogan's acquisition, Shoe Station banner, and e-commerce, despite a projected increase in SG&A expenses and a higher income tax rate.
March 21, 2024 | 10:21 am
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Shoe Carnival forecasts Fiscal 2024 net sales of $1.21B-$1.25B, with adjusted EPS of $2.55-$2.75, both slightly below consensus. Growth is expected from the Rogan's acquisition and e-commerce.
Shoe Carnival's Fiscal 2024 outlook indicates a cautious growth projection, slightly below market consensus. The expected growth from the Rogan's acquisition and e-commerce is positive, but the lower-than-expected sales and EPS forecasts, along with increased SG&A expenses and a higher income tax rate, could temper investor enthusiasm in the short term. However, the company's strategic initiatives suggest a potential for longer-term growth.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100