Shoe Carnival (NASDAQ:SCVL) earnings for the retail company’s second quarter of 2020 have SCVL stock taking a beating after-hours Tuesday. That comes after reporting diluted earnings per share of 71 cents on revenue of $300.79 million. Those are mixed results next to Wall Street’s estimates of 61 cents per share and revenue of $310.46 million.
Let’s take a deeper dive into the most recent Shoe Carnival earnings report below.
- Diluted per-share earnings are down 11.3% from 80 cents during the same time last year.
- Revenue for the quarter comes in 12.1% higher than the $268.22 million reported in Q2 2019.
- Operating income of $14.4 million is an 8.2% decrease year-over-year from $15.68 million.
- The Shoe Carnival earnings report also has net income coming in at $10.06 million.
- That’s a 15% decline compared to the company’s net income of $11.83 million in the same period of the year prior.
Cliff Sifford, vice chairman and CEO of Shoe Carnival, said this about the earnings report.
“The positive response by both our in-store and online customers led to record quarterly revenues and comparable same store sales growth of 12.6 percent. We also achieved an important milestone surpassing 25 million Shoe Perks loyalty members.”
Shoe Carnival isn’t offering guidance in its current earnings report. The company attributes this decision to the novel coronavirus. Many other companies are doing the same during the pandemic.
SCVL stock was down 9.6% after markets closed on Tuesday but closed out normal trading hours up 9.4%
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
