Shoe Carnival reported results for the fourth quarter and fiscal year ended January 30, 2016. The company reported net sales of $233.7 million for the fourth quarter of fiscal 2015.
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This is a 2.7 percent increase, compared to net sales of $227.6 million for the fourth quarter of fiscal 2014.
Comparable store sales increased 1.8 percent in the fourth quarter of fiscal 2015.
The gross profit margin for the fourth quarter of fiscal 2015 was 29.2 percent, compared to 28.6 percent in the fourth quarter of fiscal 2014. The merchandise margin decreased 0.1 percent. Buying, distribution and occupancy expenses decreased 0.7 percent as a percentage of sales.
Selling, general and administrative expenses for the fourth quarter of fiscal 2015 increased $1.2 million to $61.7 million. As a percentage of sales, these expenses decreased to 26.4 percent compared to 26.6 percent in the fourth quarter of fiscal 2014.
The Company opened two stores and closed one store during the fourth quarter of fiscal 2015 compared to opening one store and closing five stores in the fourth quarter of fiscal 2014.
Net earnings for the fourth quarter of fiscal 2015 were $4.2 million, or $0.21 per diluted share. For the fourth quarter of fiscal 2014, the Company reported net earnings of $3.0 million, or $0.15 per diluted share.
Fiscal year 2015
Net sales during fiscal 2015 increased $43.8 million to $984.0 million compared to fiscal 2014. Comparable store sales for the 52-week period ended January 30, 2016 increased 3.0 percent.
Net earnings for fiscal 2015 were $28.8 million, or $1.45 per diluted share, compared to net earnings of $25.5 million, or $1.27 per diluted share, in the last fiscal year.
Gross profit increased to $290.5 million in fiscal 2015. The gross profit margin for fiscal 2015 was 29.5 percent compared to 29.1 percent last year. Our merchandise margin increased 0.1 percent while buying, distribution and occupancy costs, as a percentage of sales, decreased 0.3 percent.
Selling, general and administrative expenses, as a percentage of sales, were 24.8 percent for fiscal 2015 compared to 24.6 percent last year. ■