Based in Evansville, IN,
Shoe Carnival ( is one of the biggest footwear retailers in the country. In its stores, Shoe Carnival offers a wide variety of dress, casual, and athletic shoes for men, women, and children, and the company emphasizes national and regional name brands throughout its selection. SCVL - Free Report) Better-Than-Expected Q3 Earnings
Shoe Carnival’s third quarter results showed nice growth overall for this retailer.
Earnings of 76 cents per share easily beat the Zacks Consensus Estimate of 61 cents, and marks the company’s sixth consecutive earnings beat.
Revenues totaled $269 million also beat our consensus estimate, and same-store sales growth of 4.5% came ahead of the analyst estimate of 4.1%.
Cliff Sifford, President and CEO, commented in the earnings release, “We are pleased with our strong third quarter sales results, which reflect growth in all geographic regions and virtually all of our product categories.”
As a result, Shoe Carnival raised its fiscal 2018 sales and EPS guidance.
The retailer now expects sales in the range of $1.020 billion and $1.022 billion, up from $1.016 billion to $1.020 billion. EPS is now projected to fall between $2.36 and $2.38, up from previous guidance of $2.07 to $2.15. Same-store sales growth is expected at 3.5%.
SCVL is On the Rise
Year-to-date, shares of Shoe Carnival are up almost 32%.
Estimates have been rising lately too, pushing the stocks towards a Zacks Rank #1 (Strong Buy).
For the current fiscal year, Shoe Carnival’s earnings are expected to grow almost 60% year-over-year. One analyst has revised their estimate upwards in the past 60 days, and the Zacks Consensus Estimate has moved 22 cents higher from $2.16 to $2.38 during the same time frame.
2019 looks pretty strong too, and earnings are expected to grow around 10.5%; next year’s consensus estimate sits at $2.63 per share, with one upward revision in the last 60 days.
Shoe Carnival has been making some smart strategic decisions lately, like closing underperforming stores—there are 14 store closings expected for the year—which analysts are praising. Moves like this will help Shoe Carnival going forward.
If you’re an investor looking for a retail stock to add to your portfolio as the holiday season heats up, make sure to keep SCVL on your shortlist.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>