US: Shoe Carnival Q4 profit plummets 81%
- Q4 profit of US$600,000 versus $3.2m
- Net sales fall 2.6% to $200.3m from $205.7m
- Comparable store sales edge down 2.5%
A drop in sales during the fourth quarter has led to an 81% slump in profit at value footwear retailer Shoe Carnival.
President and CEO Cliff Sifford said: "Unfavorable weather in the fourth quarter negatively impacted our customer traffic, and consequently, our sales and earnings results. In particular, robust traffic and sales in November were followed by significant declines in traffic and sales in December and January."
For the full year, profit declined 8.2% to $26.9m from $29.3m in the prior year period, while net sales reached $884.8m, up 3.5% over last year's $855m.
"Despite this tough sales environment, we ended fiscal 2013 with inventories in excellent shape and believe we are well positioned with the right assortment of family footwear at the right price to capitalise on the Easter selling season," Sifford added.
The company expects first-quarter earnings per share to range from $0.45 to $0.52, compared to $0.47 in the same period of last year. Net sales are forecast to be between $232m and $241m against $232.3m in fiscal 2013.
Shoe Carnival said national advertising, better brands in its women's department and "aggressive" multi-channel initiatives helped boost fourth-quarter earnings and sales for the group....
Canadean's "Shoe Carnival, Inc. - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and s...
Shoe Stores Industry (U.S.): Analytics, Extensive Financial Benchmarks, Metrics and Revenue Forecasts to 2021, NAIC 448210 Vital industry-specific data including metrics, benchmarks, historic numbers...
- How apparel retailers should react to Brexit
- Big data helps Crystal Group sustainability gains
- Brexit and the apparel industry – what lies ahead?
- Brexit uncertainty over pending EU trade deals
- Britain votes for Brexit – what happens next?
- Delta Galil buys VF Corp premium brands for $120m
- Brexit to halt deflation in UK clothing sector
- Under Armour opens manufacturing innovation hub
- Nike faces domestic and future order headwinds
- Walmart's 'Made in USA' pledge misleading
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing & Footwear Retailing in Denmark
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Luxury Goods Retailing in Europe, 2014-2019 ; Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape
- Clothing & Footwear Retailing in Indonesia– Market Summary & Forecasts