This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Shoe Carnival Reports First Quarter 2012 Results

Stocks in this article: SCVL

Shoe Carnival, Inc. (Nasdaq:SCVL), a leading retailer of value-priced footwear and accessories, today reported results for the first quarter ended April 28, 2012.

First Quarter Highlights

  • Net sales of $222.6 million, a 12.2 percent increase compared to the first quarter last year
  • Growth in comparable store sales of 7.3 percent
  • Earnings per diluted share increased 8.0 percent to $0.54 (adjusted for the three-for-two stock split effected April 27, 2012)
  • Company opened 13 new stores, including six stores in the Dallas/Fort Worth Metroplex

Mark Lemond, President and CEO, commented, “During the first quarter of 2012, we exceeded our earnings expectations and reported the highest quarterly earnings in the Company’s history. Customers responded favorably to our athletic and spring footwear assortment, which helped generate sales at the high end of our guidance for the first quarter. Additionally, our gross profit margin and expenses were better than we originally anticipated.”

Completion of Stock Split and First Quarter Financial Results

On March 23, 2012, the Company’s Board of Directors authorized a three-for-two stock split of the shares of the Company’s common stock, which was effected in the form of a stock dividend. The stock split entitled each shareholder of record at the close of business on April 13, 2012 to receive one additional share of common stock for every two shares of common stock owned as of that date, and was paid on April 27, 2012. Upon the completion of the stock split, the Company’s outstanding shares increased from approximately 13.6 million shares to approximately 20.4 million shares. The financial information included with this press release has been adjusted to reflect the completion of the stock split.

The Company reported net sales of $222.6 million for the first quarter of fiscal 2012, a 12.2 percent increase over net sales of $198.5 million in the first quarter of fiscal 2011. Comparable store sales increased 7.3 percent for the first quarter of fiscal 2012. Net earnings for the first quarter increased to $11.0 million, or $0.54 per diluted share, from net earnings of $9.9 million, or $0.50 per diluted share in the first quarter of last year.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs