Shoe Carnival Ends 2019 Strong, but Future is Uncertain
Net income in the final quarter ended Feb. 1 jumped 156% to $3,483,000 from $1,359,000 on 2% higher revenues of $239,875,000 up from $234,658,000 that included a 3.2% gain in comp store sales at the family footwear chain. After a slow start in Nov., Dec. was up mid-single digits and Jan. accelerated to high-single-digit comps. SCVL touted higher traffic in stores and online in the Holiday quarter, as shoppers responded to its seasonal advertising. Gross margin expanded 70 basis points to 29.1% on better merchandise margins and flat buying, distribution and occupancy expenses. SG&A was flat in dollars and leveraged ... Log in to view full article.