SCVL - Why Shoe Carnival Shares Are Slipping Today | Benzinga
Shoe Carnival Inc (NASDAQ: SCVL) shares are trading lower by around 6% after the company reported Q3 FY23 results.
Sales declined 6.4% Y/Y to $319.91 million, missing the consensus of $328.26 million.
Comparable store sales declined 7.4% Y/Y, owing to softening trends after Labor Day.
Shoe Station net sales increased low-double digits Y/Y, and Children's category sales grew low-single digits during Back-to-School in Q3.
Total e-commerce sales increased around 10% Y/Y, reflecting digital marketing and CRM investments.
The company registered a gross profit of $117.70 million, lower than $130.85 million a year ago. The gross profit margin stood at 36.8% ...