Highly promotional activity and increased multichannel initiatives not only helped Shoe Carnival hit its expectations, but exceed $1 billion in net sales for the year.
For the quarter ended January 28, 2017, the retailer’s net sales were $234.2 million, a 0.2% increase, compared to net sales of $233.7 million for the fourth quarter of fiscal 2015. While it was in line with its goals, this was just shy of Wall Street’s prediction for sales of $235 million.
The chain’s net sales increase was driven by sales of $5.0 million from 21 new stores opened since the beginning of the fourth quarter of fiscal 2015, Kerry Jackson, the company’s CFO, said during the retailer’s shareholder’s meeting.
