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Shoe Carnival profit drops in Q2, on track to open 13 net new stores
Evansville, Ind. -- Shoe Carnival reported Thursday that net income for the quarter ended July 30 dropped to $2.7 million from $4.1 million in the year-ago period. Sales edged up 0.8% to $166.7 million, and same-store sales dipped 1.1%.
The shoe retailer said it expects to open 17 new stores and close four stores in fiscal 2011.
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Big Lots Q2 profit slips 8%
Columbus, Ohio -- Big Lots reported Thursday that net income for the quarter ended July 30 declined 8% to $35.7 million, compared with $38.9 million a year earlier. The company cited same-store sales declines and a charge related to its new Canadian stores for the performance slip.
Revenue rose 3% to $1.17 billion from $1.14 billion. Same-store sales fell 1.5%.
Big Lots acquired Liquidation World in July as part of a strategy to expand into Canada.