Why Shoe Carnival Stock Was Climbing Today

Shares of Shoe Carnival (NASDAQ: SCVL) were climbing higher today after the footwear retailer posted strong results in its second-quarter earnings report. Shoe Carnival reported revenue of $312.3 million, which was up 16.4% from Q2 2019, the equivalent pre-pandemic period, but down 6% from the quarter a year ago, as the company is operating in a more difficult macroeconomic environment. The retailer also held onto much of the profitability gains it made during the pandemic as gross margin was 36.2%, compared to 30.6% in Q2 2019, and operating margin came in at 12.4%, more than double the 5.8% it had in Q2 2019.