• Profit nearly doubled to $5.8m from $2.9m
  • Sales grew 18.8% to $216.4m
  • Comparable store sales rose 2.6%

US footwear retailer Shoe Carnival saw second quarter net profits double during the second quarter on rising sales and improving margins.

The company said net income reached US$5.8m over the quarter ended 3 August from $2.9m in the same period of the prior year.

Sales grew 18.8% to $216.4m, as comparable store sales rose 2.6%. Gross margins improved to 28.9% from 28.7% as SG&A costs declined.

"In the second quarter, our selection of women's seasonal and children's footwear drove our comparable store sales increase," said president and CEO Cliff Sifford.

"We are pleased our sales increase, when combined with our team's focus on managing the controllable aspects of our business, enabled us to achieve earnings towards the high-end of our guidance."