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Article: SHOE CARNIVAL 1ST-QUARTER PROFITS DROP [Corrected 06/06/08]
- Article from:
- Evansville Courier & Press (2007-Current)
- Article date:
- May 30, 2008
- Author:
CopyrightCopyright 2008 Evansville Courier & Press (2007-Current). Provided by ProQuest LLC. (Hide copyright information)
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Largely because it sold fewer sandals and dress shoes, Shoe
Carnival saw its profits drop in the first quarter of its 2008
fiscal year.
Shoe Carnival said today it had profits of $4.8 million, or 38
cents a share, in the first quarter. That was close to meeting the
predictions of analysts polled by Thomson Reuters, who said the
company would have earnings of 37 cents a share this quarter.
But it was a 34 percent drop below where the profits had been in
the same period a year ago, when the Evansville company had made
$7.3 million, or 53 cents a share.
Mark Lemond, the chief executive officer of Shoe Carnival, blamed
the fallen profits on slow sales of seasonal shoes such as sandals
and ...