Shoe Carnival Pops Following Q3 Report, Raised Guidance

Shoe Carnival, Inc. SCVL gained more than 10 percent in the extended session Monday after it beat third-quarter earnings expectations and offered a fourth-quarter sales outlook higher than the Wall Street consensus.

The retailer said same-store sales grew 2.3 percent, while its gross profit margin of 30.1 percent was unchanged from a year earlier.

Shoe Carnival predicted fourth-quarter earnings of between $0.06 to $0.10 a share, on sales of $218 to $222 million. Same-store sales will grow by 3 percent to 5 percent, the company said.

Analysts expect fourth-quarter earnings of $0.09 a share on sales of $217.5 million.

For the recent period, the company posted net income of $10.8 million, or $0.54 a share, unchanged from a year earlier. Sales grew 8 percent to $254.7 million, from $235.8 million last year.

Analysts expected third-quarter earnings of $0.48 on sales of $248.83 million.

In after-hours trading, Shoe Carnival changed hands recently at $21.00, up 7 percent.