World Footwear

Companies

Declining sales at Shoe Carnival

May 3, 2017 / United States
Declining sales at Shoe Carnival
The US-based retailer of footwear and accessories announced comparable stores sales results for the first fiscal quarter ended on the 29th of April and an updated outlook for annual net sales
Cliff Sifford, Shoe Carnival’s President and Chief Executive Officer commented: “Our sales results improved as we progressed through the first quarter, but it was not enough to offset the soft start we experienced at the beginning of the year with comparable store sales down mid-teens in February. We primarily attribute the decline in our February sales to the delay in tax refund checks. Most recently, we have generated improved sales and we are optimistic that our financial performance will improve as we progress through fiscal 2017.”

Comparable store sales in the first quarter of fiscal 2017 decreased by 3.9% as a result of a slower start to the fiscal year.

The company now expects fiscal year 2017 net sales to be in the range of 1.002 billion US dollars to 1.018 billion US dollars, with comparable store sales flat to down low single digits, and earnings per diluted share in the range of 1.30 US dollars to 1.45 US dollars. This compares to the company’s prior outlook for net sales of 1.028 billion US dollars to 1.040 billion US dollars, with comparable store sales flat to up low single digits and earnings per diluted share of 1.45 US dollars to 1.54 US dollars.

Related news

Related Events

  • Jul
    25
    Jul 25-Jul 25, 2017 | New York, United States

    Footwear Sourcing Intelligence Summit

  • Jul
    26
    Jul 26-Jul 29, 2017 | Salt Lake City, United States

    Outdoor Retailer

  • Jul
    30
    Jul 30-Jul 31, 2017 | Lexington, Kentucky, United States

    Kentucky Shoe Buying Mart

  • Aug
    1
    Aug 1-Aug 3, 2017 | New York, United States

    FFANY - Shoe Show

Related Organizations

  • The Museum at FIT

    The Museum at FIT

    United States
  • WSTA - World Shoe Travelers Association

    WSTA - World Shoe Travelers Association

    United States
  • Fashion Institute of Technology

    Fashion Institute of Technology

    United States
  • NSRA - National Shoe Retailers Association

    NSRA - National Shoe Retailers Association

    United States