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Shoe Carnival profit stumbles on same-store woes

August 23, 2007

Evansville-based Shoe Carnival Inc. said today that profit in its fiscal second quarter fell to $167,000, down from $2.9 million in the same period of 2006.

Sales for the quarter ended Aug. 4 increased 5.4 percent, to $154.8 million.

However, same-store sales were down 7.1 percent. The shoe retailer attributed the decline to fewer shoppers, a change in back-to-school dates and sales-tax-free days in August in some of its stores.

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