By Adriano Marchese
Shoe Carnival Inc. on Wednesday reported profit more than doubled in the fourth quarter, benefiting from higher revenue in the period.
The retailer of family footwear said earnings per share were 52 cents, up from 24 cents in the comparable quarter a year ago.
Net income was $7.5 million, compared with $3.5 million a year ago.
Sales rose to $253.9 million from $239.9 million.
"To date, our fiscal first quarter 2021 results are shaping up to show continued momentum and are on track for record first quarter sales and earnings," Chairman and Chief Executive Cliff Sifford said.
The company said that based on fiscal 2021 first quarter-to-date results, it expects record first-quarter sales and earnings, with sales anticipated to be at least $273 million and EPS of $1.40.
However, the company wouldn't provide annual guidance yet given the continued uncertainty surrounding the pandemic and its effects on consumer behavior.
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