Shoe Carnival Q1 Earnings Fall, But Beat Street, Soleil Boosts Rating to Hold vs Sell - Up 5%
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[May 30, 2008]

Shoe Carnival Q1 Earnings Fall, But Beat Street, Soleil Boosts Rating to Hold vs Sell - Up 5%

(Midnight Trader Via Acquire Media NewsEdge) Boston, May 30, 2008 (MidnightTrader via COMTEX News Network) --

Shoe Carnival (SCVL) said Q1 EPS fell to $0.38 vs $0.53 early on Thursday. Revenue slipped 2% to $162.1 million from $165.7 million.

The FC mean was for EPS of $0.37 on sales of $164.8 million. Estimates typically exclude one-time items. Same-store sales declined 4.9%

Soleil Securities Group said the company now runs 15 additional stores but has kept expenses flat, AP reported.

The firm added it is also optimistic that an anticipated uptick in athletic sales will help the company's performance during second half of the year and raised its rating to hold vs sell.



Meanwhile, Susquehanna Financial Group viewed its Q2 EPS estimate of $0.05 as achievable and lifted its price target to $17 from $16 while reaffirming a Positive rating, AP reported.

Price: 14.66, Change: +0.73, Percent Change: +5.24


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