Shares of Shoe Carnival Soar 28% After 3rd-Quarter Results Trump Hurricane Headwinds

Shares of Shoe Carnival Soar 28% After 3rd-Quarter Results Trump Hurricane Headwinds

Shares of Shoe Carnival (NASDAQ: SCVL), a leading retailer of family footwear with brand names and private label merchandise, are soaring 28% as of 11:30 a.m. EST Friday after the company released better-than-expected earnings that boosted confidence with investors.

Shoe Carnival recorded a 4.7% increase in net sales to $287.5 million, driven by a strong 4.4% increase in comparable store sales. The bottom line was even better for investors: Shoe Carnival's earnings per share (EPS) jumped 22.2% to $0.66.

Cliff Sifford, Shoe Carnival's president and chief executive officer, said the following in a press release:

Continue reading

Source: Fool.com