Shoe Carnival reports Q4 net income os 1.4 million dollars

Shoe Carnival, Inc. has reported net sales of 234.7 million dollars for the fourth quarter and sales of 1.030 billion dollars for the fiscal year. Net income was 1.4 million dollars or 9 cents per share for the quarter compared to net loss of 3.9 million dollars or a loss of 24 cents per diluted share. For the full year, Shoe Carnival’s net income reached 38.1 million dollars or 2.45 dollars per share compared to 18.9 million dollars or 1.15 dollar per diluted share, in fiscal 2017. Comparable store sales increased 4.7 percent for the quarter and 4.3 percent for the fiscal year.

Commenting on the company’s results. Cliff Sifford, Shoe Carnival’s President and CEO said in a statement: “We are pleased to report record net sales and earnings results above our expectations for the fiscal year. Going forward, we believe we remain well positioned to deliver long-term sustainable growth and value for our shareholders.”

The Company opened three stores and closed 14 stores during fiscal 2018 compared to 19 store openings and 26 store closings in fiscal 2017. Shoe Carnival continues to expect net sales to be in the range of 1.035 billion dollars to 1.043 billion dollars for fiscal 2019, with a comparable store sales increase of low single digits. Earnings per diluted share are expected to be in the range of 2.60 dollars to 2.70 dollars compared to 2.45 dollars in fiscal 2018.

Picture:Facebook/Shoe Carnival