Shoe Carnival Q2 sales up 12.9% to $332.7M, raises FY2024 guidance

SHOE CARNIVAL INC

2024-Q2 EPS reported $1.45 revenue$633,061,000

Q2 GAAP EPS $0.82, Adjusted EPS $0.83; operating income up 22% to $30.1M.
Net sales record for Q2; gross margin expanded 30 bps to 36.1%; August comp store sales positive.
FY2024 guidance raised: net sales $1.23B-$1.25B (5-6% growth), GAAP EPS $2.55-$2.70, Adj. EPS $2.60-$2.75.
Rogan's acquisition added $0.4M expenses; store count 430; cash $84.5M, no debt; $50M share repo remaining.
Q3 expected net sales ~$320M, GAAP EPS ~$0.70; $20M calendar shift impacts Q3/Q4.

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