Shoe Carnival Beats on EPS; Authorized Stock Buyback (SCVL)

Shoe Carnival Inc. (NASDAQ: SCVL) reports Q2 EPS of $0.28 versus estimates of $0.27. Shoe Carnival Inc. reports revenues of $165.4 million versus estimates of $167.07 million.

The company said that Q3 EPS would be $0.63 to $0.66 on revenues of $196 to $202 million; this compares to the Street estimates of $0.63 per share on revenues of $196.02 million.

SCVL also authorized a $25 million stock buyback.

Speaking on the results, Mark Lemond, president and chief executive officer said, "I am pleased to report that in the second quarter we were able to take advantage of consumer demand across each broad merchandise category and in every operations region. Our strong quarterly sales performance, when combined with a higher gross profit margin and controlled expenses, resulted in record second quarter earnings. While toning footwear was a key driver of our sales for the quarter, our non-athletic footwear, particularly sandals and other types of casual footwear for the family were also significant drivers of our sales increase."

Shares of SCVL are higher in the after-hours by 0.02%.

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