Shoe Carnival Inc. /zigman2/quotes/203407380/composite SCVL -3.93% shares soared 14.1% in Friday premarket trading after the retailer reported third-quarter profit and sales that beat expectations in after-hours. Net income totaled $12.0 million, or 76 cents per share, up from $10.7 million, or 66 cents per share, last year. The FactSet EPS consensus was 58 cents. Sales totaled $269.2 million, down from $287.5 million last year, but ahead of the $266.0 million FactSet guidance. Same-store sales growth of 4.5% beat the 4.1% FactSet outlook. The company now sees fiscal 2018 sales in the range of $1.020 billion and $1.022 billion, up from $1.016 billion to $1.020 billion; EPS in the range of $2.36 and $2.38, up from previous guidance of $2.07 to $2.15; and same-store sales growth of 3.5%. The FactSet consensus is for EPS of $2.31, sales of $1.020 billion, and a same-store sales increase of 3.5%. Wedbush analysts praise the company's decision to close underperforming stores, with 14 store closings expected for the year. And says Shoe Carnival "is making the right bets on merchandise." Wedbush rates Shoe Carnival shares outperform with a $47 price target, up from $45. Shoe Carnival shares have rallied 38.7% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.05% is up 2.1% for the period.