Shoe Carnival Q1 Net Income Rises

(RTTNews) - Shoe Carnival (SCVL) reported first quarter net income of $17.3 million, or $0.63 per share, compared to $16.5 million, or $0.60 per share, prior year. On an adjusted basis, excluding the $0.5 million of expenses in the quarter related to the acquisition of Rogan's, first quarter adjusted EPS was $0.64. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.59, for the quarter. Analysts' estimates typically exclude special items.

Net sales rose 6.8 percent to $300.4 million. Comparable store sales for the thirteen-week period ended May 4, 2024, declined 3.4 percent. Analysts on average had estimated $294.54 million in revenue.

The company reiterated entire fiscal 2024 outlook, including net sales growth in a range of 4 percent to 6 percent and GAAP EPS in a range of $2.50 to $2.70 and adjusted EPS in a range of $2.55 to $2.75.

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