Shoe Carnival (SCVL) Reports Q2: Everything You Need To Know Ahead Of Earnings

Footwear retailer Shoe Carnival (NASDAQ:SCVL) will be reporting results tomorrow morning. Here’s what investors should know.

Shoe Carnival beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $300.4 million, up 6.8% year on year. It was a solid quarter for the company, with a decent beat of analysts’ earnings estimates.

Is Shoe Carnival a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Shoe Carnival’s revenue to grow 14.2% year on year to $336.3 million, a reversal from the 5.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.83 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Shoe Carnival has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Shoe Carnival’s peers in the apparel and footwear retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Foot Locker delivered year-on-year revenue growth of 1.9%, meeting analysts’ expectations, and Boot Barn reported revenues up 10.3%, topping estimates by 1.6%. Foot Locker traded down 4.6% following the results while Boot Barn was up 13.7%.

Read our full analysis of Foot Locker’s results here and Boot Barn’s results here.

Investors in the apparel and footwear retail segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Shoe Carnival is down 2.7% during the same time and is heading into earnings with an average analyst price target of $50.5 (compared to the current share price of $38.07).

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