Shoe Carnival Delivers Strong Q2

Shoe Carnival Delivers Strong Q2
A Shoe Carnival store location

Shoe Carnival Inc. has good reason to celebrate.
 
The Evansville, Ind.-based retail chain reported an increase in both earnings and comparable-store sales during its second quarter.
 
For the period ended Aug. 3, the company reported net earnings of $5.8 million, or 29 cents a diluted share, compared with $2.9 million, or 14 cents, for the second quarter of 2012. Sales at the firm increased 18.8 percent to $216.4 million, versus the $182.2 million reported a year ago.
 
Same-store sales during the quarter increased 2.6 percent.
 
“In the second quarter, our selection of women’s seasonal and children’s footwear drove our comparable-store sales increase,” President and CEO Cliff Sifford said in a statement. “We are pleased our sales increase, when combined with our team’s focus on managing the controllable aspects of our business, enabled us to achieve earnings toward the high end of our guidance.”
 
Looking ahead to the third quarter, the retailer expects earnings per share of 51 cents to 55 cents, on sales to $236 million to $240 million.