US footwear retailer Shoe Carnival's Q4 FY20 sales up 5.3% to $254 mn

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.