Shoe Carnival Reports Q3 EPS, Revenue Miss

Shoe Carnival fell 7% in Monday’s late trading after the company reported financial results for fiscal Q3, with earnings and revenue that fell short of analysts’ expectations; it also cut its guidance for fiscal 2016 below Street estimates.

For the quarter ended Oct. 29, the footwear retailer posted earnings of $0.54 per share, compared with the prior-year period’s $0.47 per share. Analysts polled by Capital IQ were expecting EPS of $0.55.

Revenue was $274.5 million, up from $269.7 million in the same quarter last year. The Street view is for revenue of $278.3 million.

The company expects fiscal 2016 EPS of $1.46 – $1.51 on revenue of $1.002 billion – $1.006 billion. The Street view is for EPS of $1.60 on revenue of $1.01 billion.

The prior guidance was for $1.58 – $1.65 EPS on revenue of $1.007 billion to $1.027 billion.

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