Shares of Shoe Carnival (SCVL) surged 7.05% in pre-market trading on Friday, following the release of the company's strong first-quarter fiscal 2025 results and reaffirmation of its full-year outlook. The footwear retailer's performance exceeded market expectations, boosting investor confidence in its growth trajectory.
Shoe Carnival reported impressive financial results for Q1 2025. The company's net income reached $9.343 million, while gross profit stood at $95.777 million. Sales for the quarter amounted to $277.715 million, indicating robust consumer demand for the retailer's offerings. Additionally, operating income came in at $11.965 million, showcasing the company's operational efficiency.
In a move that further fueled investor optimism, Shoe Carnival reaffirmed its previously issued fiscal 2025 outlook. This demonstration of confidence in the company's future performance, coupled with the strong Q1 results, appears to be the primary driver behind the significant pre-market stock price increase. As the market opens, investors will be closely watching to see if this upward momentum continues throughout the trading session.
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