Why Shoe Carnival Stock Was Climbing Today
Shares of Shoe Carnival (NASDAQ: SCVL) were climbing higher today after the footwear retailer posted strong results in its second-quarter earnings report. Though revenue and profits fell from the quarter a year ago, that was more a result of difficult comparisons with a quarter that benefited from stimulus checks and the economic reopening than any current struggles.
The stock closed up 11% today on the news.
Shoe Carnival reported revenue of $312.3 million, which was up 16.4% from Q2 2019, the equivalent pre-pandemic period, but down 6% from the quarter a year ago, as the company is operating in a more difficult macroeconomic environment.
Source Fool.com
