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Shoe Carnival fiscal Q2 profit falls 54.1% YOY

Shoe Carnival Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS declined 53.9% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.7 million, a decline of 54.1% from $6.0 million in the year-earlier period.

The normalized profit margin fell to 1.2% from 2.7% in the year-earlier period.

Total revenue increased year over year to $222.1 million from $216.4 million, and total operating expenses increased 5.2% year over year to $217.7 million from $206.9 million.

Reported net income fell 55.4% on an annual basis to $2.6 million, or 13 cents per share, from $5.8 million, or 29 cents per share.