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Reuters
Published
Mar 18, 2010
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Shoe Carnival fourth quarter profit beats estimates, first quarter view strong

By
Reuters
Published
Mar 18, 2010

March 18 (Reuters) - Shoe Carnival Inc (SCVL.O) reported a quarterly profit that beat analysts' estimates, mainly on strong demand at its boots and athletic footwear business, and forecast a strong first quarter.


Photo: www.shoecarnival.com

The footwear retailer sees earnings of 54 cents to 58 cents a share, on revenue of $181 million to $183 million for the first quarter. It expects same-store sales to rise 8 percent to 9 percent.

Analysts were expecting earnings of 40 cents a share on revenue of $174.2 million, according to Thomson Reuters I/B/E/S.

"The momentum we realized in the second half of fiscal 2009 has continued ... and we are very optimistic about our outlook for the spring selling season," Chief Executive Mark Lemond said in a statement.

For the fourth quarter ended Jan. 30, Shoe Carnival earned $2.6 million, or 20 cents a share, compared with a loss of $3.0 million, or 24 cents a share, a year ago.

Revenue rose nearly 9 percent to $170.8 million.

Analysts were expecting earnings of 12 cents a share on revenue of $171.5 million.

Shares of the Evansville, Indiana-based company closed at $21.88 Wednesday 17 March on Nasdaq. (Reporting by Renju Jose in Bangalore; Editing by Bijoy Koyitty)

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