Home / Knowledge / News / Shoe Carnival updates Q1 earnings expectations
Shoe Carnival updates Q1 earnings expectations
11
May '10
Shoe Carnival, Inc., a leading retailer of value-priced footwear and accessories, announced first quarter 2010 net sales, comparable store sales, and updated earnings per diluted share expectations for the first quarter ended on May 1, 2010. Due to the timing of the Company's upcoming participation at the Sterne Agee's Best Ideas Conference in Chicago, IL on May 11, 2010 the Company is providing this business update. The Company does not plan to provide preliminary financial information in the future other than in unique circumstances, or in the event of a material event that requires disclosure.

Net sales for the first quarter of 2010 increased 13.2 percent to $189.5 million from net sales of $167.3 million for the first quarter of 2009. Comparable store sales for the thirteen-week period ended May 1, 2010 increased 13.1 percent. Both net sales and comparable store sales for the first quarter of 2010 were above the Company's prior guidance for net sales in the range of $181 to $183 million and a comparable store sales increase of 8 to 9 percent.

As a result, the Company now expects earnings per diluted share in the range of $0.70 to $0.72 for the first quarter of 2010. The Company's prior guidance was for first quarter earnings per diluted share in the range of $0.54 to $0.58.

"We are pleased to report we exceeded our internal goals and expectations for the first quarter by continuing to capitalize on key fashion trends, particularly in the athletic and toning categories. Our lean inventory position enabled us to increase our merchandise assortment in these key categories to meet the consumers demand and enabled us to achieve our highest quarterly comparable store sales increase in the Company's history," said Mark Lemond, Shoe Carnival's President and Chief Executive Officer. "As a result, we were able to maximize our profitability and increase our earnings per diluted share expectations for the first quarter of 2010. We remain extremely well positioned as customers continue to respond positively to our business model of providing the right product assortment of name brand footwear for the entire family at a compelling value."

Shoe Carnival Inc

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X