Shoe Carnival reports Q3 earnings
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Evansville-based footwear retailer Shoe Carnival Inc. (Nasdaq: SCVL) is reporting third quarter net income of $32.6 million, compared to $46.8 million during the same period last year. The company says the most relevant comparison is to Q3 2019 when net income measured at $13.7 million, which predated the volatility of the pandemic.
Shoe Carnival says customer count grew to record level of 31.5 million customers, up nearly 35% over the past three years.
“Despite the challenging inflationary environment our customers face, Q3 sales results were the second highest quarterly result in the Company’s history and year-to-date EPS more than doubled any full year of earnings in our 44 years of operation except for government stimulus influenced 2021,” said Mark Worden, president and chief executive officer.
The company says it is on track to operate over 400 stores during the first half of 2023 and has a strategic goal to have at least 500 stores over the next three to five years.
Click here to view the report.