Shoe Carnival up on annual net sales growth forecast

Shoe Station

21/03/2024 15:50

** Shares of footwear retailer Shoe Carnival  SCVL.O  up as
much as 5.3% at $34.70 - highest since March 2022
    ** If gains hold, stock set for best day since Dec. 6, 2023
    ** Forecasts fiscal 2024 net sales growth, compared to a
decline seen in FY23 
    ** Expects annual net sales growth in the range of 4% to 6%
vs 6.8% decline seen in fiscal 2023
    ** Q4 net sales fell 3.6% to $280.2 mln, owing to softer
demand and weather disruptions in January
    ** In 2023, stock rose nearly 26%

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))