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Shoe Carnival closes the year with strong sales

Mar 25, 2016 / United States
Shoe Carnival closes the year with strong sales
Net sales increased by 2.7% in the fourth quarter. The US-based footwear and accessories retailer closed the year with 4.7% sales growth
“We had a strong finish to fiscal 2015. The initiatives we have implemented over the past three years, including our multi-channel sales strategy, has led to the enrollment of nearly nine million Shoe Perks members and helped drive our record annual sales and diluted earnings per share”, stated Cliff Sifford, President and CEO, adding: “We are particularly pleased with the strength of our athletic footwear and trend-right boot selection”.

In the fourth quarter, net sales grew by 2.7% to reach 233.7 million US dollars, compared to net sales of 227.6 million US dollars for the fourth quarter of fiscal 2014. Comparable store sales increased by 1.8% in the fourth quarter of fiscal 2015.

The gross profit margin for the fourth quarter of fiscal 2015 was 29.2%, compared to 28.6% in the fourth quarter of fiscal 2014. 

Net earnings for the fourth quarter of fiscal 2015 totaled 4.2 million US dollars, or 0.21 US dollars per diluted share. For the fourth quarter of fiscal 2014, Shoe Carnival reported net earnings of 3.0 million US dollars, or 0.15 US dollars per diluted share.

Net sales during fiscal 2015 increased by 4.7% totaling 984.0 million US dollars compared to fiscal 2014. Comparable store sales for the 52-week period ended on the 30th of January 2016 increased by 3.0%. Net earnings for fiscal 2015 reached 28.8 million US dollars, or 1.45 US dollars per diluted share, compared to net earnings of 25.5 million US dollars, or 1.27 US dollars per diluted share, in the last fiscal year.

During fiscal 2015, Shoe Carnival opened 20 new stores and closed 15 ending the fiscal year with a network of 405 stores.

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