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Shoe Carnival Q1, record net income, record net sales, record gross profit – delivering historical results

Thursday, May 20, 2021

Shoe Carnival, Inc., a leading retailer of footwear and accessories for the family, reported results for the first quarter ended May 1, 2021.

“Once again, the Shoe Carnival team delivered another record-breaking quarter, achieving the highest sales, margin, and EPS results in our history,” said Cliff Sifford, Shoe Carnival’s Vice Chairman and Chief Executive Officer.

First Quarter Highlights

  • Record quarterly net income of $43.2 million and diluted net income per share of $3.02; first quarter earnings exceed any previous full-year earnings
  • Record quarterly net sales of $328.5 million and record quarterly comparable store sales increase of 125.8 percent
  • Record quarterly gross profit of $130.2 million and record quarterly gross profit margin of 39.6 percent
  • E-commerce sales increase of 11.8 percent versus fiscal 2020 and 191.3 percent versus fiscal 2019
  • Shoe Perks customer loyalty program membership grew over 10 percent compared to the prior year bringing total membership in the program to over 27 million
  • Cash and cash equivalents were $174.6 million with no outstanding debt as of May 1, 2021

“We are thrilled that customers are shopping in-store again, and we look forward to giving them an even more exciting shopping experience as we continue modernizing our store fleet and delivering on-trend product for the entire family at the value they expect. We believe we have earned the tremendous support our customers have in us. We will continue our mission of putting our customers in the center of all we do to maintain and grow the loyalty they have in the Shoe Carnival brand,” added Sifford.

Source: Shoe Carnival – Press Release
Photo Credit: Shoe Carnival

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 May 19, 2021, the Company operates 377 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

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