Retailer faces challenges in sales and weather conditions
- Shoe Carnival lowers 2023 outlook
- Sales forecasted between $1.16 billion and $1.18 billion
- Earnings per-share projected between $2.65 and $2.75
- Fourth-quarter sales expected to decline 9% to 12%
- Analysts expected $290.3 million in sales
- Soft start to fall seasonal categories
- Uncertainty over customer holiday shopping
- Weather affects seasonal sales and boot season
Shoe Carnival has revised its outlook for 2023, citing ongoing softness and uncertainty in consumer spending during the holiday season. The company now forecasts sales between $1.16 billion and $1.18 billion, with earnings per-share projected between $2.65 and $2.75. This is a decrease from its previous guidance of sales between $1.19 billion and $1.21 billion, and earnings per-share between $3.10 and $3.25. The revised outlook reflects a fourth-quarter decline in net sales of 9% to 12%, with sales expected to be around $265 million to $285 million. Analysts had anticipated sales of $290.3 million. Shoe Carnival attributes the softer-than-expected start to the fall seasonal categories and uncertainty surrounding customer holiday shopping. Additionally, the company faced challenges due to persistently hot and dry weather, which affected seasonal sales and the boot season.
Factuality Level: 8
Factuality Justification: The article provides specific information about Shoe Carnival lowering its outlook for 2023, including sales and earnings per-share figures. It also includes a statement from Shoe Carnival explaining the reasons for the revised guidance. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It does not include any digressions, unnecessary background information, or tangential details. The information provided is based on the company’s own statements and analyst expectations. Overall, the article is factual and provides accurate and objective information about Shoe Carnival’s outlook and performance.
Noise Level: 7
Noise Justification: The article provides information on Shoe Carnival lowering its outlook for 2023 due to softness and uncertainty in consumer spending during the holiday season. It includes specific sales and earnings per-share forecasts. However, it lacks analysis of long-term trends or antifragility. It does not hold powerful people accountable or explore consequences of decisions. The article does not provide scientific rigor or intellectual honesty, and it does not offer actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Shoe Carnival and the footwear industry
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Shoe Carnival and its outlook for 2023. It mentions a decline in sales and earnings, as well as uncertainty over consumer spending during the holiday season. There is no mention of an extreme event.
Public Companies: Shoe Carnival (N/A)
Key People: Mark Worden (Chief Executive)
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