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News Breaks
January 14, 2013
16:14 EDTSCVLShoe Carnival sees opening 30 to 35 stores in 2013
Shoe Carnival to open an additional 30 to 35 stores. The 2013 strategy is to backfill existing markets and open in smaller, new markets where we can have immediate brand awareness and leverage our marketing efforts. Our team is focused on driving organic growth and generating increased cash flow to enhance shareholder value long-term.
News For SCVL From The Last 14 Days
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November 25, 2015
10:58 EDTSCVLShoe Carnival December volatility elevated into Q3 and outlook
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November 11, 2015
11:56 EDTSCVLBoot Barn plummets after lowering profit outlook
Shares of Boot Barn (BOOT), which offers western and work-related footwear, apparel and accessories, are sinking after the firm lowered its fiscal 2016 profit outlook. WHAT'S NEW: Tuesday night after the close, Boot Barn reported second quarter adjusted earnings per share of 4c and revenue of $129.7M, compared to analysts' consensus estimates of 4c and $130.83M, respectively. Q2 same store sales increased 0.1%. Core Boot Barn same store sales, which include and exclude Sheplers, increased 1.6%. WHAT'S NOTABLE: Looking ahead to Q3, the company expects adjusted EPS of 47c-49c, below consensus of 51c. Q3 SSS growth is seen in the low-single digits. SSS growth excluding Sheplers is seen in the flat to low-single digits. For FY16, the company lowered its adjusted EPS view to 76c-80c from 85c-90c, well short of the consensus of 86c. FY16 SSS growth is expected in the low single digits. Boot Barn plans to open 22 new stores, with 9 expected to open in the second half of the fiscal year. ANALYST REACTION: This morning, research firm BB&T downgraded Boot Barn to Hold from Buy following the weak Q2 report and reduced FY16 guidance. Analyst Corinna Freedman said Boot Barn is more exposed to macro pressures than previously thought and viewed shares as fairly valued. Another firm, Baird, said the near-term visibility for Boot Barn has been reduced but the long-term growth story remains intact. The firm said the short-term impact from lower oil/commodity prices is proving more widespread than previously anticipated. Baird thinks there is a compelling risk/reward for longer-term growth oriented investors and maintained its Outperform rating, but lowered its price target to $22 from $28 on Boot Barn shares. PRICE ACTION: In late morning trading, Boot Barn fell about 12.5% to $12.96 on more than four times its average daily trading volume. Including today's pull back, the shares have lost approximately 31% over the past 12 months. OTHERS TO WATCH: Other companies in the footwear and apparel space include Genesco (GCO), down 5%, Shoe Carnival (SCVL), down 2.6%, Caleres (CAL), down 3%, and DSW (DSW), down 3.5%.

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