Shoe Carnival, Inc. (Nasdaq: SCVL) a leading retailer of value-priced footwear and accessories, today reported results for the third quarter ended October 27, 2012.
Third Quarter Highlights
- Net sales of $244.4 million, a 13.4 percent increase, compared to the third quarter last year
- Comparable store sales increased 6.2 percent
- Quarterly earnings per diluted share of $0.60 represented a 15.4% increase over the previous record earnings per diluted share of $0.52, which was achieved in the third quarter of fiscal 2011
- Company opened six new stores, including two additional stores in Puerto Rico
“Our team did a great job in positioning us for a highly successful back-to-school season. We achieved comparable store sales at the high end of our guidance and record earnings. Our strong financial performance was the result of a marketing effort that resonated with our core consumer. We showcased the fashion trends currently driving footwear demand and reached additional customers through the opening of stores in new and existing markets,” stated Cliff Sifford, President and CEO.
Financial ResultsThe Company reported net sales of $244.4 million for the third quarter of fiscal 2012, a 13.4 percent increase, compared to net sales of $215.5 million in the third quarter of fiscal 2011. Comparable store sales increased 6.2 percent in the third quarter of fiscal 2012. The gross profit margin for the third quarter of fiscal 2012 increased to 31.3 percent compared to 30.2 percent for the third quarter of fiscal 2011. The merchandise margin increased 0.6 percent, while buying, distribution and occupancy costs decreased 0.5 percent as a percentage of sales. Selling, general and administrative expenses for the third quarter increased $7.6 million to $55.9 million; as a percentage of sales, these expenses increased to 22.9 percent compared to 22.4 percent in the third quarter of fiscal 2011. The increase in expense was primarily due to operating more stores and increased incentive compensation versus the third quarter last year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV