Shoe Pavilion has announced that net sales increased 26% to US$31.4m in the second quarter from $24.9m in the prior year period. Same-store sales increased 3.9%.
Net income for the quarter increased 43% to $1.007m, or $0.10 per diluted share, versus net income of $704,000, or $0.10 per diluted share, in the prior year period.
Shoe Pavilion president and CEO Dmitry Beinus said: "Our net sales and adjusted net income were in line with our expectations. We are pleased to have successfully continued our store rollout plans with the opening of four new stores during the quarter."
During the quarter, the retailer opened new stores in Bellevue, Washington, and Sacramento, Huntington Beach and Montebello, California, and expects to open another eight to ten new stores this year.