Shoe Carnival, a US-based retailer of moderately priced footwear and accessories, reported 5.3 per cent sales growth to $253.9 million in its fourth quarter (Q4) of fiscal 2020 ended on January 31, 2021 compared to sales of $239.9 million in the same period prior fiscal. The company’s net income for Q4 FY20 increased to $7.4 million (Q4 FY19: $3.5 million).
Shoe Carnival, a US-based retailer of moderately priced footwear and accessories, reported 5.3 per cent sales growth to $253.9 million in its fourth quarter (Q4) of fiscal 2020 ended on January 31, 2021 compared to sales of $239.9 million in the same period prior fiscal. The company's net income for Q4 FY20 increased to $7.4 million (Q4 FY19: $3.5 million).#
“With consumer shopping habits upended by the pandemic, our team quickly shifted to meet customer needs by exponentially growing our e-commerce business and re-opening our stores safely by early June. Our multi-year investment in a world-class CRM platform played a significant role in our success during the year, driving increased sales and margins through segmented, personalised marketing,” Cliff Sifford, Shoe Carnival’s vice chairman and chief executive officer, said in a press release.
Shoe Carnival, a US-based retailer of moderately priced footwear and accessories, reported 5.3 per cent sales growth to $253.9 million in its fourth quarter (Q4) of fiscal 2020 ended on January 31, 2021 compared to sales of $239.9 million in the same period prior fiscal. The company's net income for Q4 FY20 increased to $7.4 million (Q4 FY19: $3.5 million).#
Gross profit for Q4 FY20 rose to $78.1 million ($69.9 million). Selling, general and administrative expenses were $67.5 million ($65.1 million). The company’s operating income increased to $10.5 million ($4.7 million).
Shoe Carnival, a US-based retailer of moderately priced footwear and accessories, reported 5.3 per cent sales growth to $253.9 million in its fourth quarter (Q4) of fiscal 2020 ended on January 31, 2021 compared to sales of $239.9 million in the same period prior fiscal. The company's net income for Q4 FY20 increased to $7.4 million (Q4 FY19: $3.5 million).#
“As we enter 2021, we remain financially strong and will leverage the invaluable knowledge we have gained to navigate through a changing dynamic. To date, our fiscal first quarter 2021 results are shaping up to show continued momentum and are on track for record first quarter sales and earnings,” Sifford said.
Fibre2Fashion News Desk (JL)
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