Shoe Carnival shares rally on earnings beat

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Shoe Carnival Inc.












SCVL, +4.12%










shares surged in the extended session Wednesday after the shoe retailer topped Wall Street estimates for the quarter. Shoe Carnival shares rallied 16% to $19.05 after hours. The company reported second-quarter net income of $3.9 million, or 24 cents a share, compared to $4.1 million, or 22 cents a share, in the year-ago period. Revenue rose to $235.1 million from $231.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 20 cents a share on revenue of $231.3 million. For the year, Shoe Carnival estimates earnings of $1.35 to $1.45 a share on revenue of $1.01 billion to $1.02 billion. Analysts expect earnings of $1.39 a share on revenue of $1.01 billion.

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