Why Shares of Shoe Carnival Jumped 10% in August

Shares of footwear retailer Shoe Carnival (NASDAQ: SCVL) rose 10.1% in August, according to data provided by S&P Global Market Intelligence. The company's second-quarter report was responsible for the gain, with Shoe Carnival beating analyst estimates across the board and providing solid full-year guidance.

Shoe Carnival reported second-quarter revenue of $235.1 million, up 1.4% year over year and almost $3 million higher than the average analyst estimate. Comparable sales increased by 0.4% during the quarter, despite back-to-school shopping being shifted from the second quarter to the third quarter in some markets. Comparable sales jumped 7% in August, a major acceleration from the second quarter.

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Source: Fool.com