Shoe Carnival raises FY18 EPS view $2.41-$2.43 from $2.36-$2.38, consensus $2.38
Shoe Carnival updated its sales and earnings guidance for the fiscal year ending February 2, 2019. The company also introduced an outlook for fiscal year 2019. The company now expects fiscal 2018 net sales to be approximately $1.028B and expects comparable store sales to increase approximately 4%. Revenue consensus $1.02B. Earnings per diluted share for fiscal 2018 are expected to be in the range of $2.41 to $2.43. In fiscal 2017, net sales were $1.019B comparable store sales increased 0.3% and the Company earned $1.15 per diluted share. Adjusted earnings per diluted share for fiscal 2017 were $1.49. CEO Cliff Sifford said, "Our solid finish to the fiscal year has been driven by broad-based sales increases, with particular strength in our boot, casual and athletic categories. We are pleased with our team's efforts to enhance margins and effectively manage inventory, which resulted in higher than expected annual profitability. For fiscal 2019, we are excited about the investments we are making in customer engagement and technology as we position Shoe Carnival for the next level of growth."