Shoe Carnival Posts Another Mixed Quarter Despite Extended Back-to-School Season

Shoe Carnival Inc. posted another mixed quarter even as sales from a pandemic-delayed back-to-school season factored largely into the past three-month period. For the 13 weeks ended Oct. 31, the Evansville, Ind.-based company logged profits of $14.7 million, or earnings of $1.03 per share, compared with the prior year’s income of $13.7 million, or 94 cents in EPS. Analysts had forecasted earnings of 70 cents per share. On the other hand, revenues were flat at $274.6 million — slightly down from market watchers’ bets of $275.6 million. Last quarter, Shoe Carnival reported that most of the volume it typically sees in August from back-to-school sales would likely shift to later in the quarter and extend through the end of October. Despite the sales miss in Q3, the chain was upbeat on its comps, which increased 0.9%, as e-commerce advanced upwards of 150%. (Its online business represented more than 13% of total sales in the period.) “We achieved same-store sales growth and delivered the most profitable quarter in Shoe Carnival’s history despite the extended back-to-school season,” vice chairman and CEO Cliff Sifford said in a statement. “This would not have been possible without the hard work of our Shoe Carnival team members, our incredibly solid

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