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Article Date: March 2019
Word Count: 586

Shoe Carnival Profits Doubled in 2018

Net income was $1,359,000 in the final quarter ended Feb. 2 against a loss of $3,891,000 last year as sales declined 4% to $234,658,000 from $243,232,000 missing about $15.2 million from the extra week in Q4 last year, but benefitting from a 4.7% comp store sales gain. Comps increased high-single digits in Nov., then pulled back with low-single-digit increases in Dec. and Jan. The missing week contributed to $4.9 million in SG&A savings, boosting profits despite a 50 basis point contraction in gross margin to 28.4%. Merchandise margin decreased 90 b.p. but was partially offset by 40 b.p. of buying, ... Log in to view full article.


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