Footwear retailer Shoe Carnival Inc. (SCVL) Monday reported fourth-quarter net income of $3.21 million or $0.13 per share, down from $3.28 million or $0.16 per share last year.
Adjusted earnings for the quarter was $0.16 per share. On average, six analysts polled by Thomson Reuters expected earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the fourth quarter grew 13.1 percent to $205.7 million from $181.9 million last year. The recent fourth quarter comprised of 14 week while last year it was a 13-week quarter. The extra week sales contributed about $10.7 million. Analysts estimated sales of $210.05 million for the quarter.
Comparable store sales increased 0.5 percent from last year.
Gross margin advanced to 29.3 percent from 28.3 percent last year.
Looking forward to the first quarter, the company expects earnings of $0.36 to $0.44 per share, and sales of $226 million to $232 million. Analysts currently estimate earnings of $0.57 per share on revenues of $239.74 million.
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