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Shoe Carnival fiscal Q1 profit falls YOY

Shoe Carnival Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS declined year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $9.5 million, compared with $9.6 million in the year-earlier period.

The normalized profit margin dropped to 4.0% from 4.1% in the year-earlier period.

Total revenue climbed year over year to $235.8 million from $232.3 million, and total operating expenses grew on an annual basis to $220.6 million from $216.9 million.

Reported net income decreased on an annual basis to $9.0 million, or 45 cents per share, from $9.4 million, or 47 cents per share.