Shoe Carnival Tumbles 13% - Misses Q1 Estimates and Sees Q2 Below Street ViewChris Middlebrooks (Author) Published Date : Jun 17, 2014 09:48 ET
Shoe Carnival (SCVL) is now down nearly 13%, after the company reported late Thursday disappointing financial results for Q1, and provided guidance for Q2 below Street estimates. The family footwear retailer said Q1 sales were $235.8 million, below the Thomson Reuters mean for $238.29 million. It earned $0.45 per share, missing forecasts for $0.49. Q2 sales are seen between $223 million to $228 million, below the mean Bloomberg forecast for $233 million. EPS are seen between $0.12 to $0.16, including an increase in store pre-opening costs of approximately $0.05 due to the expectation of opening 16 stores in Q2 compared with opening eight stores in the second quarter of last year. Predictions, usually less items, are for $0.27 per share.
Shoe Carnival Tumbles 13% - Misses Q1 Estimates and Sees Q2 Below Street View