Press release
Shoe Carnival Reports Record Third Quarter Fiscal 2021 Results
Reports Third Consecutive Quarter of Record Quarterly Net Sales, Net Income and Diluted EPS Further Increases Record Fiscal 2021 Annual Net Sales and
About this update from Shoe Carnival, Inc.
[{"type":"text","content":"\nReports Third Consecutive Quarter of Record Quarterly Net Sales, Net Income and Diluted EPS\nFurther Increases Record Fiscal 2021 Annual Net Sales and Earnings Guidance\nCompletes CEO Succession and Appoints New Board Members\n\n EVANSVILLE, Ind.--(BUSINESS WIRE)--\nShoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading retailer of footwear and accessories for the family, today reported results for the third quarter and nine months ended October 30, 2021.\n\nThird Quarter Highlights\n\n\nRecord quarterly net income of $46.8 million and record diluted net income per share of $1.64\n\n\nRecord quarterly net sales of $356.3 million and quarterly comparable store sales increase of 30.1 percent\n\n\nRecord quarterly gross profit of $144.1 million and quarterly gross profit margin of 40.4 percent\n\n\nOmnichannel growth model continues to gain traction as e-commerce comparable sales increased 12.5 percent compared to the prior year period\n\n\nShoe Perks customer loyalty program membership increased over 10 percent compared to the prior year with total membership over 28.5 million\n\n\nCash, cash equivalents, and investments were $191.2 million with no outstanding debt as of October 30, 2021\n\n\nMark Worden, Shoe Carnival’s President and Chief Executive Officer said, “This was by every measure that matters, our best quarter, of our best year, in our 43-year history. We achieved our highest quarterly earnings ever. Net income per share and operating income were both three times higher than the results of any prior third quarter. Store traffic was up over 40 percent and all of our comparable stores generated positive cash flow year to date. We are thankful to our millions of customers and over 5,000 team members for once again making us a Billion Dollar Brand, as we aim to become a multibillion dollar retailer in the years ahead.”\n\nThird Quarter Financial Results\n\nThe Company reported record net sales of $356.3 million for the third quarter of fiscal 2021, a 29.8 percent increase compared to net sales of $274.6 million for the third quarter of fiscal 2020. The increase resulted from continued broad-based demand for the Company’s merchandise, with every major category increasing compared to the prior year quarter. The continued easing of COVID-19 restrictions and its customer base returning to a more normal lifestyle, inclu...