Shoe Carnival Inc. SCVL said Wednesday it had net income of $21.6 million, or 79 cents a share, for its fiscal fourth quarter to Jan. 28, up from $20.6 million, or 72 cents a share, in the year-earlier period. Sales fell to $290.8 million from $313.4 million. The FactSet consensus was for EPS of 80 cents and sales of $307 million. The Evansville, Ind.-based retailer of footwear and accessories said profit and sales were up from $3.5 million and $239.9 million in the fourth quarter of 2020, before the pandemic broke out. “The Shoe Carnival team successfully delivered operating income margins and overall profitability more than double those generated just three years ago, consistent with our strategic plans and 2022 guidance,” CEO Mark Worden said in a statement. Inventory was higher at $390.4 million at year-end, up $130.9 million versus 2019. The company is now expecting fiscal 2023 EPS of $3.96 to $4.20 and sales of $1.26 billion to $1.32 billion. The FactSet consensus is for EPS of $4.29 and sales of $1.35 billion. The stock has fallen 27% in the last 12 months, while the S&P 500 SPX has fallen 11%.
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