Shoe Carnival Reports Record Quarter
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Evansville-based Shoe Carnival Inc. (Nasdaq: SCVL) is reporting record fourth quarter net income of nearly $21 million, compared to $7.4 million during the same period a year ago. The footwear retailer says net sales grew 23% during the quarter.
Shoe Carnival is also reporting fiscal full-year net income of $155 million, up from nearly $16 million during the previous year. Chief Executive Officer Mark Worden says the growth resulted in the best year in Shoe Carnival’s 43-year history.
“Fourth quarter momentum was very strong as we closed out the year, with store traffic up 18%, net sales up 23%, and EPS growth of 177% versus the prior year,” said Worden. “Our strategic investments, and recent acquisition of a second retail banner, have us positioned very well for continued sales growth in 2022, and for rapid store expansion in the years ahead. We now expect to sustain operating income and EPS levels that are more than double the pre-pandemic record levels set in fiscal 2019.”
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