- Shoe Carnival Inc (NASDAQ:SCVL) reported fourth-quarter FY21 sales growth of 23.4% year-on-year, to $313.37 million, beating the consensus of $280.42 million.
- The revenue growth was driven by increased store traffic and new customer acquisition.
- Adjusted EPS of $0.83 beat the consensus of $0.44.
- Gross profit rose 49.5% Y/Y to $116.8 million, with the margin expanding 650 basis points to 37.3%.
- Selling, general and administrative expenses rose 31.5% Y/Y to $88.9 million.
- The operating margin was 8.9%, and operating income for the quarter rose 164.2% to $27.9 million.
- Shoe Carnival held $132.4 million in cash and equivalents as of January 29, 2022. Net cash provided by operating activities for twelve months totaled $147.8 million.
- The company's board approved a 29% increase to the quarterly cash dividend from $0.07 to $0.09 per share, payable on April 18, 2022, to shareholders of record on April 4, 2022.
- "We now expect to sustain operating income and EPS levels that are more than double the pre-pandemic record levels set in fiscal 2019," said CEO Mark Worden.
- Outlook: Shoe Carnival sees FY22 sales growth of 4% - 7%, and EPS of $3.80 - $4.10.
- Price Action: SCVL shares closed higher by 4.07% at $31.43 on Tuesday.
