Shoe Carnival Q4 Profit Drops In Line With View; Sees Annual Earnings Below Estimates- Update

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Shoe Carnival, Inc. (SCVL) expects its annual earnings, below analysts' estimate while seeing an increase in sales compared with last year .

For the full year, it sees earnings of $2.50 to $2.70 a share and adjusted earnings of $2.55 to $2.75 per share, lesser than analysts' average estimate of $2.84 per share.

Shoe Carnival on the other hand expects sales to grow, supported by the recent Rogan's acquisition, continued strength in the Shoe Station banner, and e-commerce sales growth, combined with the expectation of improving trends in the Shoe Carnival banner. The footwear firm expects sales of $1.21 billion to $1.25 billion, 4 percent to 6 percent up from last year.

For the fourth quarter, Shoe Carnival reported a profit that decreased from last year in line with the Street estimates.

The company's earnings totaled $15.520 million, or $0.57 per share. This compares with $21.610 million, or $0.79 per share, in last year's fourth quarter.

Excluding items, Shoe Carnival Inc. reported adjusted earnings of $16.130 million or $0.59 per share for the period.

Analysts on average had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.6% to $280.169 million from $290.779 million last year.

Shoe Carnival Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $15.520 Mln. vs. $21.610 Mln. last year. -EPS (Q4): $0.57 vs. $0.79 last year. -Revenue (Q4): $280.169 Mln vs. $290.779 Mln last year.