Stock Story -
Footwear retailer Shoe Carnival (NYSE:CCL) (NASDAQ:SCVL) will be announcing earnings results tomorrow before market hours. Here's what to look for.
Shoe Carnival met analysts' revenue expectations last quarter, reporting revenues of $280.2 million, down 3.6% year on year. It was a weaker quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' gross margin estimates.
Is Shoe Carnival a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Shoe Carnival's revenue to grow 4.7% year on year to $294.5 million, a reversal from the 11.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.60 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
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 (NYSE:BOOT)'s revenues decreased 8.7% year on year, meeting analysts' expectations, and Urban Outfitters (NASDAQ:URBN) reported revenues up 7.8%, topping estimates by 1.8%. Boot Barn traded up 2.8% following the results.
Read the full analysis of Boot Barn's and Urban Outfitters's results on StockStory.
There has been positive sentiment among investors in the apparel and footwear retail segment, with share prices up 5.2% on average over the last month. Shoe Carnival is down 2.5% during the same time and is heading into earnings with an average analyst price target of $41 (compared to the current share price of $34.41).
