Shoe Carnival Q3 profit dips despite sales rise
- Q3 net profit down 1% to US$10.8m
- Net sales up 8% to $254.7m
- Comparable store sales rise 2.3%
Footwear retailer Shoe Carnival posted a slight reduction in third quarter net profit, despite rises in both sales and comparable store sales in the three months to 1 November.
The US company’s gross profit margin was flat at 30.1% in the quarter, it added.
“These results reflect strong sales in our fashion boot category and progress in key initiatives we announced last year, mainly, national advertising, better brands in our women’s department and a reinvigorated e-commerce presence,” said Cliff Sifford, President and CEO.
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