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Article Date: August 2018
Word Count: 378

Shoe Carnival Soars in Q2, Ups FY Guidance


The bottom line tripled to $11,775,000 from $3,896,000 in the second quarter ended Aug. 4 driven by 6.7% comp sales increase and a $19.7 million benefit from the calendar shift that sent sales 14% higher to $268,366,000 from $235,064,000. Gross margin expanded 220 basis points to 31.2% including 20 b.p. of merchandise margin and 200 b.p. of buying, distribution and occupancy leverage. Sales gains were driven by a double-digit increase in women’s non-athletic and mid-single digit gains in other footwear categories, and the momentum continued through Aug. with comps up 7.6% lapping a strong 7.0% increase last year. Profits also ... Log in to view full article.

 


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