Shoe Carnival, Inc. has announced financial results for the second quarter of fiscal 2021.
Second Quarter Highlights:
- Record quarterly net income of $44.2 million and record diluted net income per share of $1.54
- Record quarterly net sales of $332.2 million and quarterly comparable store sales increase of 11.4%
- Record quarterly gross profit of $135.8 million and record quarterly gross profit margin of 40.9 percent
- Shoe Perks customer loyalty program membership increased over 10 percent compared to the prior year with total membership approaching 28 million
- Cash, cash equivalents, and investments were $163.9 million with no outstanding debt as of July 31, 2021
“The Shoe Carnival team delivered spectacular results, posting record sales and EPS growth, which included our highest operating profit on record, during the fiscal second quarter. This momentum has continued through the first three weeks of August, with comparable store sales increasing 23 percent and product margins increasing nearly 11 percentage points when compared to August 2019. Given our strong performance in the first half of the year, we are raising our full year guidance, as well as offering our view of the fiscal third quarter,” said Worden, Incoming Chief Executive Officer for Shoe Carnival.Shoe Carnival is in the process of modernizing its stores and plans to remodel approximately 100 stores by the spring of 2022, with the goal of enhancing two-thirds of its store fleet in the next three-to-five years. Source: Shoe Carnival Press Release Photo Credit: Yelp
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About Shoe Carnival Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of August 25, 2021, the Company operates 378 stores in 35 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival trades on The Nasdaq Stock Market LLC under the symbol SCVL. Shoe Carnival’s press releases and annual report are available on the Company’s website at www.shoecarnival.com.
