Shoe Carnival sees 4 percent rise in full year comparable sales

Updating its outlook for the fiscal year ending February 2, 2019, Shoe Carnival, Inc. said that it now expects net sales to be approximately 1.028 billion dollars and comparable store sales to increase approximately 4 percent. Earnings per diluted share for year are expected to be in the range of 2.41 dollars to 2.43 dollars. In fiscal 2017, net sales were 1.019 billion dollars, comparable store sales increased 0.3 percent and the company earned 1.15 dollars per diluted share, while adjusted earnings per diluted share were 1.49 dollars.

Commenting on the updated results, Cliff Sifford, Shoe Carnival’s President and Chief Executive Officer, said in a media release: “Our solid finish to the fiscal year has been driven by broad-based sales increases, with particular strength in our boot, casual and athletic categories. We are pleased with our team’s efforts to enhance margins and effectively manage inventory, which resulted in higher than expected annual profitability.”

For the fiscal year ending February 1, 2020, Shoe Carnival expects net sales in the range of 1.035 billion dollars to 1.043 billion dollars with a low single-digit comparable store sales increase. Earnings per diluted share are expected to be in the range of 2.60 dollars to 2.70 dollars for fiscal 2019.