The Evansville-based Shoe Carnival reported a drop in earnings and comparable-store sales Thursday, but it Wall Street rewarded the company for a performance that beat analysts' estimates, by bumping up the company stock to $13.82 late in the day.
Shares of other footwear companies, including Indiana- based Finish Line also rose yesterday. Shoe Carnival reported that its fourth- quarter earnings dropped 78 percent due to lower sales and higher costs. Earnings dropped to $1.1 million, or 9 cents per share, from
$5.1 million, or 37 cents per share, a year ago. Revenue dropped 7 percent to $164.3 million, from $177.2 million in the prior-year period.