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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Shoe Carnival Earnings Fall 11% 0 comments
    Dec 3, 2013 11:04 AM | about stocks: SCVL

    Originally published at www.seclive.com

    Filing in Focus: Shoe Carnival 8-K, December 2, 2013

    Shoe Carnival Inc. (NASDAQ:SCVL) announced its financial results for the third quarter of fiscal 2013, reporting an 11% decrease in earnings. Last year this quarter Shoe Carnival reported profits of $12.2M and $0.60 per share, and reported this quarter profits of $10.9M and $0.54 per share. Revenue also slumped 3.5% to $235.8M due mostly to last fiscal year containing 53 weeks. The company's gross margin fell slightly from 31.3% to 30.1% while same-store sales improved 0.7%. Shoe Carnival is expanding its operations and plans to open 32 new stores this year while closing five stores this quarter it deems necessary for forward progress. CEO Cliff Sifford remarked that negative sales figures were compensated by strong performance in August and October.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: SCVL
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