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Shoe Carnival celebrates profits; will open 18-19 stores
Evansville, Ind. – Shoe Carnival Inc. saw net income and sales increase during the first quarter of fiscal 2015 as selling, general and administrative (SG&A) expenses and cost of sales rose at a slower pace than revenues.
Net income totaled $10.4 million, up 8% from $9.2 million the same period a year earlier.
Net sales increased 7% to $252.77 million, from $235.77 million. Same-store sales climbed 3%.
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Stein Mart growing footprint and sales
Stein Mart is not only growing its footprint but the off-price retailer is also growing same store sales as well.
Same-store sales rose 4.8% in the first quarter ended May 2. Net income fell 3% to $13.6 million from $14.1 million a year earlier, with higher loan interest expense a major contributor. Net sales increased 7% to $353.5 million, from $328.9 million.

