As things currently stand, shoe retailer Shoe Carnival is enjoying a much better than expected second quarter as sales have skyrocketed.
Sales in the second quarter have risen 28.1 per cent when compared with the figures from a year ago, whilst comparable e-commerce sales are up nearly 470 per cent and brick-and-mortar sales are up four per cent.
As of the start of the week, the business had re-opened all but one of its 390-store portfolio across the US and Puerto Rico, but still warned that while these figures are encouraging, gross margin headwinds are anticipated for the second quarter as a result of mixed and increased shipping charges that can be associated with additional 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.”
