Shoe Carnival Inc. 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.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News