Home / Knowledge / News / Fashion / Decrease in merchandise margin at Shoe Carnival
Decrease in merchandise margin at Shoe Carnival
May '08
Shoe Carnival Inc a leading retailer of value-priced footwear and accessories, announced sales and earnings for the first quarter ended May 3, 2008.

Net earnings for the thirteen-week first quarter were $4.8 million, or $0.38 per diluted share, compared to net earnings of $7.3 million, or $0.53 per diluted share, for the thirteen-week prior year first quarter ended May 5, 2007.

Sales for the first quarter were $162.1 million compared to sales of $165.7 million for the prior year first quarter. Comparable store sales for the thirteen-week period ended May 3, 2008 decreased 4.9 percent compared with the thirteen-week period ended May 5, 2007.

The gross profit margin for the first quarter was 29.0 percent compared to 30.0 percent for the first quarter of the prior year.

As a percentage of sales, the merchandise margin decreased 0.8 percent and buying, distribution and occupancy costs increased 0.2 percent.

The decrease in merchandise margin as a percentage of sales was primarily related to the pressure on margins resulting from the current competitive retail environment.

Selling, general and administrative expenses for the first quarter were $39.3 million, or 24.2 percent of sales, compared to $39.3 million, or 23.7 percent of sales, for the first quarter of 2007.

The increase in selling, general and administrative expenses as a percentage of sales was attributable to the decrease in net sales.

Speaking on the results for the quarter, Mark Lemond, chief executive officer and president said, "We anticipated a challenging economic environment going into 2008 and worked diligently to face this challenge through tight inventory and expense control.

Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search