Sales Up, Profit Down For Shoe Carnival

The company opened six U.S. stores last quarter.

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Evansville-based Shoe Carnival Inc. (Nasdaq: SCVL) has announced third quarter net income of $9.4 million, compared $10.8 million during the same period last year. Chief Executive Officer Cliff Sifford says, even with the slight profit dip, the company had strong sales in some major categories.

"We experienced strong athletic and women’s fashion boot sales throughout the third quarter which helped drive our fifth consecutive quarter of positive comparable store sales and on-plan earnings performance. We also benefited from our multi-channel sales initiatives which drove higher quarterly conversion rates, average sales per transaction and units per transaction," said Sifford.

Net sales were $269.7 million, compared to $254.7 million in the 2014 fiscal third quarter. The retailer expects to open 20 new stores and close 15 during the next fiscal year.

In the third quarter, Shoe Carnival opened locations in Elkhart, Chicago, Arkansas, Texas, Pennsylvania and Florida.

You can connect to the full earnings release by clicking here.