Updated from 5:06 p.m. ET to include latest share prices and additional information on Diamond Foods, Sonic Corp., and Sturm, Ruger & Co. NEW YORK ( TheStreet) -- Shares of Shoe Carnival ( SCVL) jumped in late trades on Wednesday after the footwear retailer topped Wall Street expectations for its fiscal fourth-quarter results. The Evansville, Ind.-based company posted a profit of $3.3 million, or 24 cents a share, for the three months ended Jan. 28, down from year-ago equivalent earnings of $4.4 million, or 33 cents a share, but above the average estimate of analysts polled by Thomson Reuters for earnings of 21 cents a share. Total sales rose 1.1% year-over-year to $181.9 million, ahead of the consensus view of $180.9 million. Same-store sales fell 3% in the latest quarter.
The stock was last quoted at $29.09, up 9.7%, on volume of less than 20,000, according to Nasdaq.com. Based on Wednesday's regular-session close at $26.50, the shares were up 3.2% year-to-date. Mark Lemond, the company's president and chief executive officer, said the company was able to hit the high end of its earnings outlook despite weather-related margin pressures. Consumer demand for fall footwear, particularly boots, declined significantly as a result of the unseasonably warm weather," Lemond said in a press release. "Consequently, heavy promotional activity was required during the fourth quarter to effectively sell through this inventory, thus reducing our sales and merchandise margin." For its fiscal first quarter ending in April, Shoe Carnival forecast earnings of 75 to 77 cents a share on sales ranging from $219 million to $222 million with same-store sales rising 5.5-to-7% in the period. Wall Street's current consensus view is for earnings of 70 cents a share in the quarter. Check out TheStreet's quote page for Shoe Carnival for year-to-date share performance, analyst ratings, earnings estimates and much more.