=Shoe Carnival (SCVL) reported earnings on Wed 31 Aug 2016 (a/h)

Shoe Carnival misses by $0.05, misses on revs; reaffirms FY17 EPS & narrows rev guidance range  :

• Reports Q2 (Jul) earnings of $0.22 per share, $0.05 worse than the Capital IQ Consensus of $0.27; revenues rose 1.8% year/year to $231.9 mln vs the $237.23 mln Capital IQ Consensus.
  • Comparable store sales increased 0.5 percent in the second quarter of 2016
• Co reaffirms EPS guidance & narrows rev guidance for FY17, sees EPS of $1.58-1.65, excluding non-recurring items, vs. $1.61 Capital IQ Consensus Estimate; sees FY17 revs of $1.012-1.016 bln (prior $1.007-1.027 bln) vs. $1.02 bln Capital IQ Consensus Estimate.
• Expects FY17 comparable store sales increase in the range of 1.5 percent to 2.0 percent.
• The co expects to open approximately 20 stores, including seven small-market stores, and close approximately ten stores in FY17.