Footwear retailer Shoe Carnival (NASDAQ: SCVL) will be reporting earnings tomorrow before the bell. Here’s what you need to know.
Shoe Carnival missed analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $262.9 million, down 6.1% year on year. It was a softer quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.
Is Shoe Carnival a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Shoe Carnival’s revenue to decline 6% year on year to $282.5 million, a reversal from the 6.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Shoe Carnival has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Shoe Carnival’s peers in the apparel and footwear retail segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Boot Barn delivered year-on-year revenue growth of 16.8%, missing analysts’ expectations by 0.9%, and Foot Locker reported a revenue decline of 4.5%, falling short of estimates by 2.3%. Boot Barn traded up 16.5% following the results.
Read our full analysis of Boot Barn’s results here and Foot Locker’s results here.
There has been positive sentiment among investors in the apparel and footwear retail segment, with share prices up 10.8% on average over the last month. Shoe Carnival is up 4.7% during the same time and is heading into earnings with an average analyst price target of $20.50 (compared to the current share price of $18.18).
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