Shoe Carnival (NASDAQ: SCVL) reported Q4 EPS of $0.24, $0.03 better than the analyst estimate of $0.21. Revenue for the quarter came in at $239.9 million versus the consensus estimate of $237.97 million.

Fourth Quarter and Fiscal Year 2019 Highlights

• Net sales of $239.9 million for the quarter and record sales of $1.037 billion for the fiscal year
• Net income of $3.5 million for the quarter and record net income of $42.9 million for the fiscal year
• Record earnings per diluted share of $2.92 for the fiscal year
• Comparable store sales increased 3.2 percent for the quarter and 1.9 percent for the fiscal year
• Cash and cash equivalents of $61.9 million with no outstanding debt as of February 1, 2020
• Repurchased 1.1 million shares of common stock at a total cost of $37.8 million under the Company’s share repurchase programs during the fiscal year and paid $5.7 million in quarterly cash dividends during the fiscal year

“2019 was another record year for Shoe Carnival, as we exceeded our sales and earnings expectations, while extending our leadership position in the family footwear segment. In addition, we delivered the eleventh consecutive year of comparable same store sales growth, driven in large part by strong performance in non-athletic footwear and accessories,” commented Cliff Sifford, Shoe Carnival’s Vice Chairman and Chief Executive Officer.

“Last week, we made the difficult decision to close our stores until April 2, 2020. As the COVID-19 pandemic upends our daily lives, the health and safety of our employees, our customers, and our communities are our primary concern. For now we continue to serve our loyal customers through our website, www.shoecarnival.com, and our mobile app,” continued Sifford. “From a corporate standpoint, our strong balance sheet and prudent expense management provides us the financial flexibility to keep our steady footing during this challenging economic time. In addition, our long-standing vendor relationships and proven history of good inventory management enables us to remain agile. These are both critical attributes in a dynamic environment. As we look forward, we believe our customer-centric culture and strategic investments to enhance our customers’ experience, leverage technology, and ultimately, drive overall traffic will position Shoe Carnival for long-term growth and value creation for our shareholders.”

Fiscal 2020 Earnings Outlook

The Company is not providing guidance for fiscal year 2020 due to the uncertainty caused by COVID-19.

For earnings history and earnings-related data on Shoe Carnival (SCVL) click here.