Shoe Carnival profit quadruples in Q2
Evansville, Ind. Shoe Carnival reported late Wednesday that profit for the second quarter ended July 31 increased more than fourfold to $4.1 million, compared with profit of $982,000 a year earlier.
Sales at the shoe store chain rose 8% to $165.4 million, from $152.8 million in the year-ago quarter. That result fell slightly below analysts’ expectations of nearly $167.1 million in sales.
Same-store sales increased 8%.
The retailer operates 313 stores in the Midwest, South and Southeast. It said it expects to open 10 new stores and close seven locations in the current fiscal year.