The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
INDIANAPOLIS, United States — Shoe Carnival Inc. on Thursday reported a fiscal fourth-quarter loss of $920,000, after reporting a profit in the same period a year earlier.
On a per-share basis, the Evansville, Indiana-based company said it had a loss of 5 cents. Earnings, adjusted for asset impairment costs, were 7 cents per share.
The footwear retailer posted revenue of $234.2 million in the period.
For the year, the company reported profit of $23.5 million, or $1.28 per share. Revenue was reported as $1 billion.
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Shoe Carnival expects full-year earnings in the range of $1.45 to $1.54 per share, with revenue in the range of $1.03 billion to $1.04 billion.
Shoe Carnival shares have declined 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.81, a drop of nearly 7 percent in the last 12 months.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.