• Q2 earnings tumbled 34% to $2.7m from $4.1m
  • Net sales rose 0.8% to $166.7m
  • Same-store sales decreased 1.1%

Value-priced footwear retailer Shoe Carnival Inc says inclement weather in the second quarter led to a lower footfall in its stores and pushed earnings down by 34%.

But the retailer, which operates 321 stores, added that back-to-school traffic trends have improved - and third quarter same-store sales are now expected to rise by up to 4.4%. Net sales in the same quarter are likely to be in the range of $217m to $219m.

"Our performance for the quarter fell short of our expectations, primarily as a result of a decline in customer traffic at our stores. We were also up against record setting second quarter results from last year," said president and CEO Mark Lemond.

He added: "We are optimistic that when consumers have a need to buy, like back-to-school, they will shop Shoe Carnival for the right assortment of value-priced family footwear."