Wall Street

Shoe Carnival’s Q1 Results Are No Joke, Shares Fall 15%

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ValueWalk

Shoe Carnival Moves Lower Despite Upside SurprisesShoe Carnival (NASDAQ:SCVL) had a tough quarter in Q1 and shares are moving lower because of it. The problem is that revenue, margin, and earnings all fell relative to last year but there is a mitigating factor we think readers should be aware of. The company’s comps versus last year are negative but last year was a blowout year with sales up 122% YOY and 30% versus the 2019 pre-pandemic comp. While the earnings news suggests near-term weakness is warranted, we feel the sudden drop in share prices is also an attractive buying opportunity becaus…

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