Shoe Carnival Inc. on Monday updated its sales and earnings guidance for the fiscal year ending February 2, 2019. The company also introduced an outlook for fiscal year 2019.
The company now expects fiscal 2018 net sales to be approximately $1.028 billion and expects comparable store sales to increase approximately 4 percent. Earnings per diluted share for fiscal 2018 are expected to be in the range of $2.41 to $2.43. In fiscal 2017, net sales were $1.019 billion, comparable store sales increased 0.3 percent and the company earned $1.15 per diluted share. Adjusted earnings per diluted share for fiscal 2017 were $1.49.
Cliff Sifford, Shoe Carnival’s president and CEO, commented, “Our solid finish to the fiscal year has been driven by broad-based sales increases, with particular strength in our boot, casual and athletic categories. We are pleased with our team’s efforts to enhance margins and effectively manage inventory, which resulted in higher than expected annual profitability. For fiscal 2019, we are excited about the investments we are making in customer engagement and technology as we position Shoe Carnival for the next level of growth.”
For the fiscal year ending February 1, 2020, Shoe Carnival expects net sales in the range of $1.035 billion to $1.043 billion with a low single-digit comparable store sales increase. Earnings per diluted share are expected to be in the range of $2.60 to $2.70 for fiscal 2019.
The company will report its full fourth quarter and fiscal 2018 results on March 28, 2019.
Shoe Carnival does not plan to provide preliminary financial results in the future other than in unique circumstances, or in the event of a material event that requires disclosure. As previously announced, members of the Shoe Carnival management team will present at the ICR Conference on Monday, January 14, 2019, at 2 p.m. Eastern Time. The presentation will be webcast live, and a replay will be available on the Investors section of Shoe Carnival’s web site at www.shoecarnival.com.