Shoe Carnival Inc.
) recently trimmed its revenue guidance for fourth quarter and
fiscal 2012 ending February 2, 2013. The slash in revenue
guidance came in the wake of unseasonable warm weather in the
fourth quarter that hurt early fourth quarter sales and resulted
in lower-than-expected comps.
However, efficient cost containment is expected to generate
higher earnings for this leading retailer of value-priced
footwear and accessories in the fourth quarter. For fiscal 2012,
the company narrowed its earnings per share guidance range.
For fourth quarter, the company now anticipates revenue growth
between $212.0-$214.0 million involving same-store sales (comps)
increase of about 1.0%, lower than its prior expectation of
$215.0-$220.0 million with comps gain of 2.0-4.0%.
Earnings per share for the fourth quarter of fiscal 2012 are
expected to be in the range of 20-22 cents, higher than its
pervious expectation of 19-23 cents. According to Zacks Consensus
Estimates, analysts were expecting the company to report revenue
of $217.0 million and EPS of $0.21 for the fourth quarter of
2012; revenues of $866.0 and EPS of $1.50 for fiscal 2012.
For fiscal 2012, the company now expects net sales to be in the
range of $861-$863 million and comparable store sales to increase
approximately 4.5% compared with the previously forecasted range
of $864-$869 million. Comparable store sales were projected to
increase in the range of 4.8-5.3% previously.
Earnings per share for fiscal 2012 are now expected to be in the
range of $1.48 to $1.50 against the prior projection of
$1.47-$1.51. Notably, this would be the highest annual earnings
per share in the company's history representing a year-over-year
increase of 13%-14.5%.
According to Zacks Consensus Estimates, analysts were expecting
the company to report revenue of $217.0 million and EPS of $0.21
for the fourth quarter of 2012; revenues of $866.0 and EPS of
$1.50 for fiscal 2012.
For fiscal 2013, Shoe Carnival remains on track to open as
many as 30-35 new stores. Shoe Carnival currently retains a Zacks
Rank #3 (Hold). However, retailers currently performing well
Citi Trends Inc.
Foot Locker Inc.
). Both companies carry a Zacks Rank #1 (Strong Buy).
CITI TRENDS INC (CTRN): Free Stock Analysis
FOOT LOCKER INC (FL): Free Stock Analysis
SHOE CARNIVAL (SCVL): Free Stock Analysis
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