US: Shoe Carnival Q3 profit rises 15.4% on sales
- Q3 earnings rose 15.4% to $10.5m from $9.1m
- Net sales up 5.4% to $215.5m from $204.4m
- Comparable store sales increased 2.8%
Value-priced footwear retailer Shoe Carnival Inc has seen its third quarter profit jump 15.4% thanks to "record" sales.
"Positive sales results early in the back-to-school season were partially offset by lower than expected store traffic trends in late September and throughout October," said president and CEO Mark Lemond.
"While our third quarter performance was in the middle of our earnings expectations, it still represents the highest quarterly sales and earnings in our company's history."
He added that the sales trends reflect the "impact of an unusually warm fall sales season as compared to last year. As a result, we expect our sales trends will strengthen throughout the fourth quarter as the weather becomes more seasonal."
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