Shoe Carnival is having a better than expected second quarter — at least so far.
The footwear retailer said it has experienced stronger than expected sales for its second quarter-to-date, with comparable-store sales up 28.1% versus the year-ago period. E-commerce comparable sales are up nearly 470%; while brick-and-mortar same sales are up 4.0%.
As of June 22, Shoe Carnival has re-opened all but one of its 390 stores across the U.S. and Puerto Rico. For the fiscal second quarter-to-date, Shoe Carnival has experienced stronger than expected sales with comparable-store sales up 28.1% compared to the prior year, with brick and mortar comparable sales up 4.0% and e-commerce comparable sales increasing nearly 470%.
The company noted that while it encouraged by the strong sales performance quarter-to-date, it does anticipate gross margin headwinds for the fiscal second quarter 2020 as a result of mix and increased shipping charges associated with higher e-commerce sales.
“As we have slowly re-emerged with heightened safety procedures, we have welcomed back our customers to stores, and as a result, fiscal second quarter-to-date sales have exceeded our expectations,” said Cliff Sifford, vice chairman and CEO. “While there are still many unknowns, we are encouraged by these more than positive sales trends and remain committed to meeting our customers’ footwear needs and positioning Shoe Carnival as a leader in the family footwear segment.”
Shoe Carnival is expected to report its second-quarter results in August.