Shoe Carnival raises outlook following positive Q2 results

Shoe Carnival, Inc. reported net sales increased 14.2 percent to 268.4 million dollars, with approximately 19.7 million dollars of this increase attributable to the one-week shift in the calendar due to fiscal 2017 being a 53-week year and comparable store sales increased 6.7 percent. Gross profit margin increased to 31.2 percent compared to 29 percent in the second quarter of fiscal 2017. Net income for the quarter, the company said, was 11.8 million dollars or 0.76 dollar per diluted share compared to 3.9 million dollars or 0.24 dollars per diluted share, same quarter last year.