Shoe Carnival, Inc. (SCVL: Quote) reported fourth quarter net income of $3.3 million or $0.24 per share, down from last year's $4.4 million or $0.33 per share.
On average, 6 analysts polled by Thomson Reuters expected the company to earn $0.21 per share for the quarter. Analysts' estimates typically excludes one-time items.
Net sales for the quarter increased to $181.9 million from $179.9 million last year. Analysts expected revenues of $180.91 million for the quarter.
Comparable store sales decreased 3.0 percent from the year ago quarter.
Looking forward to the first quarter of fiscal 2012, the company expects to earn $0.75-$0.78 per share on net sales of $219 million to $222 million.
Analysts expect the company to earn $0.70 per share on revenues of $207.69 million in the first quarter of fiscal 2012.
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by RTT Staff Writer
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