Shoe Carnival, Inc. (NASDAQ:SCVL) shares surged Thursday after the company reported its second-quarter results.
The company reported second-quarter adjusted earnings per share of 91 cents, beating the analyst consensus estimate of 58 cents.
Quarterly sales of $306.388 million (down 7.9% year over year) missed the Street view of $313.121 million.
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Comparable sales declined 7.5%, including a high-single digit decline at Shoe Carnival and break-even results at Shoe Station.
In the second quarter, Shoe Station posted 1.6% sales growth. Shoe Carnival saw a 10.1% drop as lower-income shoppers stayed under pressure. Rogan’s delivered over $20 million in sales, aligning with integration goals.
Shoe Station led with strong gains in children’s and adult athletics, alongside margin expansion.
Shoe Carnival and …