Seeking Alpha

Shoe Carnival falls as lone bull analyst backs out

  • Shares of Shoe Carnival (SCVL -2.5%) fall after Sterne Agee, the lone bull on the stock, throws in the towel and downgrades the shoe retailer to Neutral with an unchanged PT of $30.
  • Analyst Sam Posner observes that athletic footwear trends (~50% of sales) "have softened" due to weak Nike offerings in the family footwear channel and the government shutdown.
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