Shoe Carnival jumps on strong Q4 earnings

Shoe Station

16/03/2022 13:13

** Shares of footwear retailer  SCVL.O  up ~11% pre-market
at $35 after Q4 revenue, profit rises 
    ** Co says Q4 net sales rose 23% to $313.4 mln, driven by an
increase in store traffic and new customer acquisition
 urn:newsml:reuters.com:*:nASA034KV
    ** SCVL's net income rose to $20.6 mln, or 72 cents per
share, from $7.4 mln, or 26 cents per share, a year earlier
    ** Co also posts adjusted profit of 83 cents per share,
compared to 26 cents, a year ago
    ** Co says board has approved 29% increase to quarterly cash
dividend from 7 cents to 9 cents per share  urn:newsml:reuters.com:*:nBw3JNDRa
    ** Adds it has $50 mln available in calendar 2022 for future
repurchases under its share repurchase program
    ** SCVL expects 2022 net sales to increase 4% to 7% compared
to the prior year and sees EPS in the range of $3.80 to $4.10
    ** Up to Tuesday's close, stock had fallen ~20% YTD, after
having nearly doubled in 2021

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))