Companies

Shoe Carnival announces preliminary sales with 5.8% growth

Feb 9, 2021 United States

The Indiana-based footwear retailer announced preliminary results for the fourth quarter of fiscal year 2020. The company is now expecting to report net sales increasing to approximately 253.9 million US dollars (239.9 million US dollars in Q4 2019)

“Our record fourth quarter results capped off an unprecedented year, further demonstrating the resiliency of our team and Shoe Carnival’s unique and differentiated concept. We realized a comparable store sales increase in excess of six percent, drove an impressive bottom line through incredible margin growth, and continued our explosive e-commerce growth”, commented Cliff Sifford, Shoe Carnival’s Vice Chairman and Chief Executive Officer.

Preliminary results now announced include net sales increasing by approximately 5.8% to 253.9 million US dollars, compared to 239.9 million US dollars in the fourth quarter of fiscal 2019. Comparable store sales increased approximately by 6.4%, on top of a 3.2% comparable store sale increase in the fourth quarter of fiscal 2019. Net income per diluted share is expected to be in the range of 0.50 US dollars and 0.52 US dollars, compared to 0.24 US dollars in the fourth quarter of fiscal 2019.

The foregoing expected results are preliminary and remain subject to the completion of normal quarter end and year end accounting procedures and closing adjustments. Due to the ongoing uncertainty created by COVID-19, Shoe Carnival is not providing fiscal year 2021 guidance at this time.

About Shoe Carnival

Shoe Carnival, Inc. is a family footwear retailer, offering customers a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of the 5th of February 2021, Shoe Carnival operates 383 stores in 35 states and Puerto Rico and offers online shopping at www.shoecarnival.com.

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