Shoe Carnival Beats Analyst Expectations for Q4 and Fiscal Year

Evansville, Ind.-based Shoe Carnival Inc. reported better-than-expected earnings for its fourth quarter and fiscal year.

Net Income: Profit for the quarter ending Jan. 31 was five times last year’s 4Q, at $3 million, or 15 cents per diluted share. In the year-ago period, the company reported a profit of $598,000, or 3 cents per diluted share.

For the fiscal year 2014, Shoe Carnival reported a profit slide of approximately 5 percent. Net income for 2014 was $25.5 million, or $1.27 per share, compared with $26.9 million, or $1.32 per diluted share, for the previous fiscal year.

Net Revenue: Sales for the fourth quarter were $227.6 million, a rise of over 13 percent compared with the year-ago period, when sales were $200.3 million. Comparable-store sales increased 9.5 percent in the quarter. Annual sales increased 6.2 percent, to $940.2 million.

Hit, Miss or Beat: Shoe Carnival beat expectations for the quarter. Analysts polled by Yahoo Finance had predicted earnings per share of 9 cents and sales of $220.2 million. The company beat those expectations for the year. Analysts expected the company to report $1.22 per share in profit and sales of $932.8 million.

Executive Insights: “We were pleased with our strong comparable-store sales performance in the fourth quarter, driven by broad-based gains across all of our footwear categories. Although favorable weather played an important role in our strong performance, we believe our key initiatives of national advertising, better brands in our women’s department and aggressive multichannel initiatives continued to bring new customers to our stores, e-commerce site, and mobile touchpoints,” said Cliff Sifford, president and CEO, in a statement. 

Looking Ahead: Shoe Carnival expects net sales to be in the range of $977 million to $991 million, with a comparable-store sales increase in the range of 1.5 percent to 3 percent. Earnings per diluted share for the year are expected to range from $1.40 to $1.48. This represents an increase of 10 percent to 17 percent compared with 2014,


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