Shoe Carnival taps up on better-than-expected guidance, Standpoint upgrade

|About: Shoe Carnival, Inc. (SCVL)|By:, SA News Editor

Shares of Shoe Carnival (SCVL +4.3%) climb following a mixed FQ3 but better-than-expected FQ4 guidance.

Comparable store sales grew a sluggish 0.7% Y/Y. The company has seen mid-single digit comps in Oct. with the arrival of "seasonably cool weather and the end to the federal government shutdown."

SCVL disclosed it has opened all 32 planned stores for the year, and will close an additional 5 stores in FQ4, bringing the total for the year to 7. (PR)

Management sees FQ4 revenue of $215M-$219M (above consensus of $212.4M) and EPS of $0.18-$0.22 ($0.20) on comp growth of 4%-6%.

Helping shares: Standpoint Research upgraded Shoe Carnival to Buy from Hold with a PT of $34. It is the only firm to carry a Buy rating on the shares.