Shoe Carnival, Inc. has re-opened all but one of its 390 stores across the U.S. and Puerto Rico following closures prompted by the COVID-19 pandemic. For the fiscal second quarter-to-date through June 22, the footwear retailer is reporting that it has experienced stronger than expected sales with comparable-store sales up 28.1 percent compared to the prior year, with brick & mortar comparable sales up 4.0 percent and e-commerce comparable sales increasing nearly 470 percent.
The Company said in a release that while it is encouraged by the strong sales performance quarter-to-date, it does anticipate gross margin headwinds for the fiscal second quarter 2020 as a result of mixed and increased shipping charges associated with higher e-commerce sales.
“The first half of fiscal 2020 ushered in an unprecedented operating landscape for our business,” commented Cliff Sifford, Shoe Carnival’s Vice Chairman and CEO. “We pivoted quickly to protect the health and safety of our employees and customers which has supported the successful, gradual re-opening of our stores since late-April. As we have slowly re-emerged with heightened safety procedures, we have welcomed back our customers to stores and, as a result, fiscal second quarter-to-date sales have exceeded our expectations. While there are still many unknowns, we are encouraged by these more than positive sales trends and remain committed to meeting our customers’ footwear needs and positioning Shoe Carnival as a leader in the family footwear segment.”
Photo courtesy Shoe Carnival
