SCVL - Earnings call transcript Q4 2018

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Operator

Good afternoon and welcome to Shoe Carnival’s Fourth Quarter Fiscal 2018 Earnings Conference Call. Today’s call is being recorded. It is also being broadcast via webcast. Any reproduction or rebroadcast of any portion of this call is expressly prohibited. Management’s remarks may contain forward-looking statements that involve a number of risk factors. cause those actual projected could materially to factors from different in risk the results company’s be These such statements.

or risk be any included as date. today’s publicly any SEC to events on these should of of opening begin. comments. cautioned forward-looking to of to Cliff now not press today’s any statements considered announce the statements, you Mr. President of Sifford, undue with are to call factors Mr. future conjunction obligation Forward-looking reliance to will place Sifford, the release. statements risk Investors revisions Officer factors conference disclaims Shoe today’s and and turn Carnival which or discussed over Executive in The filings may the or company’s reflect forward-looking the company press to the update today’s for on developments. earnings in I discussion contained call speak in release only Chief

Cliff Sifford

to welcome quarter and earnings and you call. XXXX end Shoe conference Thank year fiscal fourth Carnival’s

with will fiscal your take questions. more Kerry our fourth will of X.X%. year results highlights sales the as on overview a Vice comparable the and our me XXXX Operating the quarter increase call Chief today’s call to Officer. of Executive Shoe annual Kerry quarter well Jackson, strong On President, review in open year of operating I financial overview the fourth Financial will a today brief guidance. results call, provide as Senior store is detail. and finished Joining up Then an sales we Carnival

an fiscal of sales X.X% was and of XXXX of our $XX.X sales million the For $X.XX achieved we increased to store record comparable which expectations. ahead compared fiscal net increase billion, year,

increase sales were and our brick in stores. single-digit sales growth record low digital obtained mortar Our and in double-digit through

increase over each diluted region of our record XXXX’s and guidance We surpassed share of enjoyed XX% increases $X.XX $X.XX. of $X.XX share, earnings chain. per of in earnings throughout all categories reported a product our a in we geographic high-end also major We the adjusted

do Our we the by and key season. continues identifying of take sufficient new like that shopping so advantage key to win merchant job periods these team of holiday. a trends, items depth, items can and categories with of They great back-to-school

pleased Inventory up We are in ended also year inventory store down at with per year position our boot basis. seasonal which on fiscal our the end, double-digits. a X.X% was categories

$XX We increase share million $XXX dividends. shareholders million In year and XXXX, and returned record ended shareholders debt. year. through through Since and million to and to during cash addition, year versus repurchases last with the we dividends. no XX% equivalents over buybacks stock we a have represents returned the cash $XX a our our This in

excess to remain Board return management Directors committed Our and team to of shareholders. our capital

Board Directors for a our pleased authorized share of in December XXXX. are $XX million We repurchase program

communicate of Shoe shopper our entire leading view implementing trend allowing selection store and the moderately We year the family. Shoe of product and brands initiative. basis. to a CRM data, one-to-one of began us initiative unparalleled into us innovation on Carnival. more process for an our gave an This effectively customer a industry XXXX with latest unique environment make exciting initiatives, customer-centric of fashion, along Carnival Our right footwear priced our the with to a for in-store choice continues was the for best

We online they how when journeys either of are customer’s stores mortar. shop and overall where, tremendous shopping insights brick our and our gaining or to

brands by the gaining better understanding addition, a location categories from Shoe our and In customers that on store we count of Carnival. are

improved customers. of gold loyalty program a Perks. this rewards active level our our and in initial In the began for new for new of We we most addition re-launch July, Shoe of program, phase a On added and to more new members targeted average, very approximately re-launched positively than time gold responded improved shop. members and level each non-gold our they XX% spend shoppers our they we program, often non-gold messaging. shop than Once more

CRM August our second X% back-to-school increase value store the is X.X% throughout as of proof half comparable This news were previous message August we led getting was away. increases, store positive still our official that top month on of sales a initiative exciting the year comp posted directly increase sales each comparable that sales continued months high of the Our here of sales The second the positive trend store increased launch to X.X%. which to store our customers. is half the comparable

this there will stated have along As be wins quick previously, journey. I

positive able to We respond and our and who show own our of understanding deeper will a is be how message. they technology to results better from customer

you ongoing I our a the walk initiatives I and for sales our give strength our fourth for I XXXX, fiscal want execution comparable through of demonstrates overview our quarter year. strategic during quarter Before am This the of each that store brief to ‘XX. initiatives. pleased increased results

the in low quarter, the declined single-digits. and with while increased Puerto For units single-digits. Rico. We transaction was quarter low XXX Average fourth ended transaction in stores flat, per conversion traffic XX states

quarter, underperforming stores for year. closed X a the for we total store closures the of During XX

a women’s non-athletic on Focusing mid the ended basis. up sales our quarter department, fourth comparable department on by store comparable quarter single-digits our

in category year. the improvement driver point were basis The strong As year-end a versus margin merchandise driving last of inventories demand while door increase. in per produced XX for down expected, boots double-digits women’s key this boots the

single-digits non-athletic department high the on basis. up men’s a Our comparable quarter ended

very performance for mid single-digit, while up margin continue performance a sales XXXX, casual we remains athletic running customer pleased be each basis, a low up the basketball the merchandise margin we point to Children athletic single-digits Children’s basis categories. Adult us store with posted for are mid with up upon increased basis, men’s boots points. increased was single-digits. data Throughout soft, on unique identify in XXX improvement category. increased comparable comparable basis. the shoes analyzed high category store a comparable on allowing basis the and were comparable the seasonal and of to a double-digit single-digit boots, while double-digits non-athletic XXX Children’s customer’s while which We based identity. happy a the increase low was category of

provided our teams. data marketing, and Our estate to team analyst rich merchant real

we to specific forward As this to individual find now XXXX, utilize new to we better and seem look market customers data into merchandise store each opportunities. store

down We high customers customers project through level. individual further serve As forward, is this we The the the Carnival and store our we and move opportunity we data to better great for will insights value the XXXX, to the customer we leverage differentiate began brand segment management executive Shoe growth our Also as addition and Vice have customers strengthened in Worden, of with our comprehensive the same immediately Executive characteristics. strategy. President, we have through of have working market broader a Strategy target X-year then team the process Marketing a Mark who Chief Officer. of

experience an multibillion which toward incomparable we capabilities unique customer that dollar brand. customer’s be a our critical throughout brand, industry’s goals, and becoming as include people Our building unmatched a look best journey, will

with and the Our the McCann companies as is environment by footwear believe experience this Shoe Pure for channel. unique XXXX onboard McCann and family all such General once Michigan. marketing combining imperative a to expand store to hire Their of Their most and vast our first comparable again accomplished record imperative Motors, count. successful was We expertise Chick-fil-A sales bring to Carnival and help with our store job Carnival customer-centric they in include initiative of and entertaining brand to the capabilities, world-class continue and great our this important a creative and store become We and agency Shoe and hiring grow media. compelling Detroit. distinctive strategy of

pleased reduced X performing metrics stores been to Over the had XXXX teams success very our years, are entered not When focused we have that that operations our so delivered merchandise believe XX our can deliver identified work XX working the XX. expectation happy Carnival we real teams, dedication expectations. stores with past stores of I number the and XX end. with able and will of we Shoe these to the we performance positive improving Through fiscal on were of to to that are shows the far. the have of year, results. of the estate we one store have down our and going team year into to I it save by hard teams am as from and these the of are that close high-end closures we I the

between plan to XXXX, X immediate new identified XX For for have we future we and stores closure are for there the open. and no stores

opening, we success markets program, opportunities. have we with marketplaces for we implementation lives for our opportunities we where core customer If searching had store have CRM will of those the with present themselves great XXXX be will the far react. our so identified those new and However,

believe important We in XXXX am XXXX data a incredibly through will customer of XX strategic Shoe investments take consumer. bit to efforts teams the with to We we are new have Shoe are we level have actions open fiscal for and team. differentiate decisive have continue stores next customer customer today’s Carnival growth as established further The fiscal XXXX. goal we in I and benefits our engagements future all our the Carnival pleased collecting made of technology a in the accomplished to to with taken yield our in utilizing growth. analytic quite

of expectations March for color fiscal like into April, and would not little quarter-to-date I I out XXXX. Since give Finally, to sales give shifted our will results. Easter a on

are and proud I to way that feel buyers we appropriate and product identify our categories. increases. continue the well-positioned store very as depth of sales to I However, earlier, the to comparable with right I continue said items drive the am confident key

and then to any plan control all you allows sales we manage inventory to know, and emerging quickly trend, which react margin. conservatively us As

XXXX to up plans in to expect on from coming to continue $X.XX great comparable sales with of range $X.XX sales billion billion marketing initiative. things the continue low we CRM are Our expect single-digits. nicely to net our this, fiscal store Based and we together be

This would $X.XX overview. now like to We expect earnings share to concludes the to I to of per in be my over Kerry. $X.XX. the call turn range diluted

Kerry Jackson

Cliff. you, Thank

adjusted then are release We have first included table been XXXX earnings GAAP GAAP only describing results. and and today the year quarter non-GAAP on results full to compare year year earnings presented that will and and year’s GAAP fourth reconciliation prior prior from a year prior fiscal this year I results in QX the our to follow-up last Where adjustments have affected and earnings. a illustrating earnings the Fiscal appropriate, year adjusted not basis.

and due XXXX. of our February to XX-week of the QX this ended offset to included sales of to year’s addition, in and million included new Comparable at activity results for change $X.X of year store of fourth end XXXX, increase in where last quarter of the QX February fiscal fiscal closed increased compared from decreases fourth and sales period the and XXXX, it the the net week In $XXX.X week value year. included sales week stores X.X% X, stores for activity the net net adds period $X.X by for full effect stores, million year, of an XX-week less XX-week million identify comparing XX-week XXXX last additional ended of additional million in full reported compared in the year The $X.X $XXX.X prior XXXX. of sales in of to I the one fourth million the to million year X, with in quarter fiscal quarter. quarter in comparable sales compared will net XXXX sales the $XX.X We

buying, expense for categories the was lower quarter. to occupancy that sales buying, the a gross expense million prior expenses decrease extra and by to a in X.X% XX.X% a increased sales of was hurricane offset in GAAP was merchandise last this of $XX.X million of The the SG&A to partially in the The of effect The margin occupancy profit as margin of in the fourth expenses SG&A XX.X% store compared percentage $XXX,XXX occupancy reduction of quarter fourth X.X% the our had have in driven adjusted in increase of in and the The to $X million primarily year XXXX increase quarter gain percentage our merchandise the quarter. stores. expenses effect to the in related of adjusted this fiscal margin margin comparable stores leveraging proceeds decreased due margin expense the during our year. due having distribution week quarter Our the margin was gross by fourth compared incentive quarter equity on year. X.X% comparisons our a last as fourth for increased closed QX while in and to year’s week QX QX year profit compensation An to non-athletic one in sales. and and distribution QX gross last between XX.X% of $XX.X year. quarter million increase increased profit less affected insurance and $X.X year’s. On included minimal basis, in the on last

tax $X.X cost impairment five $X.X non-cash charges million. charges the $X.X in in the year. year million million tax As of close or last XX.X% SG&A for change of tax included non-cash $XXX,XXX. stores company’s expense SG&A $X.X a included sales, were Store cost fiscal no referenced in were the increased GAAP, non-recurring of compared in impact the year GAAP to net and due $XX of quarter of its in adjusted the performance-based anticipated XX.X% company’s enactment and charges, Jobs the Cuts tax income in closing excludes additional this related We year expense our included to XX to was XX.X% million Adjusted tax remeasurement in charge the these Included vesting the of decreased to expense SG&A in and expense, store in under-performing QX basis, QX expense XXXX, including fourth last GAAP not percentage There stores The and Tax expense both stock-based of year in outstanding to stores last adjusted impairment but fourth in cost a of income $XX,XXX income in sales. QX QX SG&A adjusted million insurance on laws. incurred a On QX in to increased QX in compensation the $X.X taxes basis, tax On effect year this QX in last the earlier. expense, deferred the stock-based QX $X.X closing the were of non-cash income due additional charges expenses proceeds. of expense compensation the stock. GAAP a this quarter million, excludes U.S. compared year year. XXXX. basis, and to On the this Act tax impairment expense last charge income I restricted XX million and to Non-cash and of $XXX,XXX gain on this an XXXX increase to $XXX,XXX the in closing QX impairment sales year. compared charges

was last discussed including XXXX. We outstanding of or outstanding $X.XX year to $X.XX were diluted On XX% previously share. onetime and QX QX in expect this per $X.XX in $X.X QX incurred diluted year XXX,XXX a the last in shares effective items, GAAP net compared our Total income million year in in net rate or this decreased adjusted shares for income fiscal to QX share XXXX shares unusual $XX.XXX this year X.X%. per tax million. per be approximately loss share. compared basis, effect million or XX.X% a we million year of Net of average or diluted the for $X.X QX Weighted $X.X to fiscal

our affecting X.X to of million. turning million cash $XX on million common of flow, million ended generated $XX equivalents property and and repurchased credit. and with position we fiscal we In total no cash cash from cost the stock XXXX, information $XX $XX after Cash and year a cash at cash equipment of purchase were line in operations our of borrowings million. shares Now

under runs XX, authorization, currently cost of December through at shares approximately share QX, which million. During million we We have $XX a $X available XXX,XXX repurchase XXXX. our repurchased total

our to QX $X.X the fiscal through XXXX shareholders we from for relocations Depreciation Lease for was $XXX,XXX and dividend. in cash year million were fiscal year. fiscal quarterly million $X.X was expense for for $X.X returned million used million for stores, this were $XX.X expenditures XXXX, incentives and million, XXXX. addition, In remodel. landlords Capital new $X.X

stores. concludes expected should review. certain are expenditures up million million. to to $XX capital million. be be for financial XXXX, $XX our used our of up is relocation existing $X fiscal This For of Approximately to remodeling say I

Now, to call questions. I’d open like the for

Operator

will Thank Susquehanna. of you. Instructions] question take first Sam ahead. from [Operator our We now go Poser Please

Sam Poser

Good How you? gentlemen. are afternoon,

Cliff Sifford

Sam. afternoon, good Hi

fine. are us? hear We you. please, you doing Thank can Yes Sam,

Sam Poser

Thank everything. hear you? heard quick, parts not Did of moving quarter that. because of lot I shift like, point of that net Real some because we’ve about sort as the but can guys. give this refunds and talk know it there there’s guiding could you color the about is I there you’re the impact and did for how a tax of you. out did I the of because net, to to Easter, you, mean, us lot expected, shifting of lot of that

Cliff Sifford

There a are quite of Sam. parts, moving bit

Easter that you shift. prepared to mentioned, they expectation. sales weren’t is that is a moved for what a in disappointed will the am in came I little But our As big February and the April, you in fact tell below that we I

we pleased they are for However, of running so with plan. are far March, sales our ahead

Sam Poser

that’s And this Sunday this year, last Sunday being so. even Okay. Easter with coming

Cliff Sifford

we No, for plan that, Sam.

built plan. that’s So into the

Sam Poser

So, general, months you your plan, up this the have let you when ask thus would far? me you two caught combine in to

Cliff Sifford

We results. we a to going the we tell are February where prepared don’t not with we said you were are pleased my that tell more not you you quarter. I I bit in remarks information. were for I should we like gave have, our

Kerry Jackson

previous our we took stated account we the the we we thing where the stood expectation say and chose we and where into of where after to February for our evaluating additionally quarter. one quarter, previously remain guidance that, with guidance and will is rest we our Sam, evaluated March for

Sam Poser

going out the And at in close close used – been but since to it’s this since $XX the of or come million the have the the Alright, you of of then thank quarter, I quarter, have K, very know, any that much. you you point

Kerry Jackson

remarks stated end at still No, my we We’ve we that since the point million been in purchased that released in point. we fiscal year, any not at available. since I time, earnings that as of the have stock a closed $XX period so had had in

Sam Poser

Cliff, Okay. both viewing away? about in impact can the you of going Payless long-term, you’re the and talk of how And short then sort

Cliff Sifford

for end a us from away, Well, standpoint either Sam, think to Shoe The family employees, the that a others it’s a and a for at I from bright a positive we of goes is inside competitor of product broad our have the and the low but carry human range business anytime – as standpoint, channel. points. we look part range about Carnival broad of price

think with for think away. Payless I Carnival had I – is we benefit So, Shoe a there be to going

Sam Poser

And then Kerry, Cliff, out. it – – sounded can can other – you had well? in quarter, or was best can Thanks. sort any last it for of of one like the two larger month you things. okay seeing you you you Can was business, been your of at talk could be the athletic year. by it may or about sort color And can fourth may changes two the or of you give as quarter. there us eked the either comps you, you – it But – us not brands any give give

Kerry Jackson

December January November and Sam, saw we up low-singles. we and at being both high-singles saw

Cliff Sifford

about tell will as we’ve the know, that talk fourth quarter you I’m business where pleased we a athletic. was – in you pleased we the don’t I athletic that’s very out with our positive had Sam, for with longstanding. we brands, quarter. came – And policy

Sam Poser

of in so as this And just do looking you, that? like sense you athletic, to about to the far feel year, general how then it’s as mix ahead important

Cliff Sifford

still about are We athletic. positive

– athletic anything we plan up low single-digits to low single-digits. business We X.X%. In under fact, low our consider

Sam Poser

Okay, well thanks very much.

a go. Let somebody Have continued else success.

Cliff Sifford

Thanks. Right.

Operator

Please will take go question now Pendy Sidoti. our We next from of Greg ahead.

Greg Pendy

for Hey thanks question. my taking guys,

maybe mentioned that you real could some favorable there you the bit you as seeing what as the XX you to estate but with new of Thanks. competitors and you’re us lease in stores a Just the something XXXX, and wanted CRM, on perspective? mentioned a you’re think go cost environment more think also will kind I into you from opportunities gather dig on data out share goal, just get is weighing potentially on away that of little how

Cliff Sifford

X the in but little fact gets hoping a we’re that costing better We’ve the I opportunities from really Greg, or standpoint, from – any current certainly this for looking in you early looking been lease for and guidance our that. is, tell I can’t X really up that XXXX. a at footprint. we’re open sites we’re the process, so this more a for give on about months will now

markets but expand won’t we for markets are outside concentrating the there grow We’re that have of There we footprint. that to are that’s are the we’re really I competitive to believe store current in not looking – where opportunity base that markets, we reasons and name efforts. our

Greg Pendy

right Yes, then on little what And us of in stores Puerto color a now? can that’s just Rico seeing bit helpful. kind how you’re you the give –

Cliff Sifford

Rico is a Puerto performing as positively. territory

so stores today X whereas ago are over in X X Puerto from year exactly. covered. sales ago only spread year X, out experiencing stores remember year believe are that there Puerto the ago. opened or or I a X we there we’re more were opened today stores are There Rico X However, than in there that were But a Rico, can’t opened – stores

Rico after and comps had the stores And a strong come not where online, up So, that we there. very year are immediately then that then positive the happen makes weren’t hurricane to Puerto spread sense. come our back that devastating like out, sometimes the able sales if stores open find for as

Greg Pendy

Thanks Yes. That’s helpful. a lot.

Operator

Wedbush. of go Svezia Chris from question next Please our take now will We ahead.

Chris Svezia

really close and a a on gentlemen, to on year. great the congratulations afternoon, – Good

Cliff Sifford

Thanks.

Kerry Jackson

you. Thank

Chris Svezia

You’re welcome.

questions, got I’ve of bunch a So, sorry.

So first –

Cliff Sifford

all we I [ph] answers. the have hope

Chris Svezia

walk QX cadence just they February, were? comp is April, Kerry, March, what last first through just year, The

Kerry Jackson

us little it year, but February similar – is too the really April we cold was were and tax so – a and March February soft felt this around mid-single-digits we where like a to describe much, were combined there really take and to mid-single-digits, hard up, we our and some in off just it or When moves significantly. a sandal into saw down in sales April actually delayed. then checks quarter. because was we saw It X.X% started comp We good had Easter of gave the when warmed slight increase March, the it which for was the just that responding, and up occurred. people backloaded sales

Chris Svezia

got Is assumption Okay, it. low basically you that is quarter. about think comp, every single-digit to When say? fair that the

Kerry Jackson

is. It They’re built into our guidance, yes.

Chris Svezia

Okay. a Got bigger than it’s to this, it. hard know assume would to is And I March going I to sales be but February. fair calculate little month that bit normally say, a wise? Is

Kerry Jackson

so March because typically X-week larger. is a Yes, it is month,

Chris Svezia

I’m to just by midpoint, of of can percent the curious, Okay, margin, got gross as mean, any the so think high-end it color, any want I color good. how guidance, it the year or buyback that? any should pertains give be, about wherever – color okay, your just just terms those we basically pertains maybe expectations, SG&A, it’s in sales the it, or for to the your as on largely the driven to margin, cadence Kerry, about you you of

Kerry Jackson

‘XX. You’re guidance our around for color talking little fiscal about

Chris Svezia

year For gross pertains it SG&A, margin as the yes. and to

Kerry Jackson

therefore distribution recorded and we QX year, occupancy and Remember flat at this profit merchandise relatively into that gross open flat. benefit our the QX XXXX, seeing in is adjusted or that that a expectations, margin discussed not where high-end so was in of and idea Okay, looking reduced in our from stores into X a of the it the is the cost ‘XX and repeat Puerto I buying, both built million in margins that $X in we’re included relatively flat in built Rico and today. for of year didn’t numbers of we’re of this ‘XX the that not occupancy that full-year

bit So, leveraging in of little headwinds that’s ‘XX. for BD&O a

‘XX, We had had leverage related equity we line areas. incentive to expect we decrease performance see the great with on particularly – above a because normal those to some comp expense and SG&A in in of our in our

those create expect to normalized more We and back expense leverage. will that return some

Chris Svezia

certainly half things, a hurdle, do two calendar but first give year, of of earnings the know that, any should QX about we there? color lot shift, growth the quarter, was there could just a know, every is final how think I I is And anticipate Okay. in you benefit pretty which high you

Cliff Sifford

increase tremendous low expect year. time got each for We’ve our plans do of We we – quarter the period. expect single-digit back-to-school a

though in Chris, so remember, we with we everyone X% every go we had year, and comped last increase even increase. we And X.X% it you a kept – a conference to then that August call, reminding against

comes that when believe comp our I great So, concept is it to back-to-school period.

So yes, our we quarter. individual have planned sales each up

Chris Svezia

just was think specifically about not so we talking but earnings, an of I actually perspective how earnings Cliff, more about them. much each on sales, from

Cliff Sifford

Well, then, I’ll turn that over to my financial expert, Kerry.

Kerry Jackson

to for in could quarters. aside and rebound the in it ends QX. the the need quarter, Depending in really seeing the a on we quarter EPS our each we’re up, additional of Well, this from March, looking in to this see sales increases positive quarter how of we’re closer flattish rest the continuation but of be

Chris Svezia

Okay.

outside could the So, of growth sort got only of flattish, quarter. that, every be that QX you’ve is one

Kerry Jackson

right. that’s guiding that’s guidance. what to, high-end the That’s Correct, we’re of our

Chris Svezia

and in get Alright, back you Alright, much the best. got it. queue. I’ll all Thank very guys, the

Cliff Sifford

Thank you, Chris.

Operator

[Operator from will take Instructions] question We now Slater. of Steven Martin next our

Steven Martin

during depressed I ahead. and frustrated this to congratulations. you shame guys, know stock – go Kerry, your buy a period. you. Hi guidance Cliff, back weren’t It’s it able

Kerry Jackson

you go ahead. No,

Steven Martin

is share on your count? Kerry, based what guidance

Kerry Jackson

million shares over at full-year XX the just outstanding we’re next For diluted looking for shares. year,

Steven Martin

that? no buyback basically in assuming you’re So, incremental

Kerry Jackson

We buyback $XX we but stock certain million. price do We going factor in year, in initially we because typically total a the plan is to know amount. of what factor be don’t certain throughout the we don’t can’t – amount the of

Steven Martin

it. Got

commented You Payless out of but closed footwear had apparel or earlier, also get but Sears closed the business. not on and you’ve

closings, half Can see Shopko about seen of Bon-Ton second or positive negative? had you’ve now and or you you’ve JCPenney closed, expect more rumored the models. maybe to had had You’ve you you’ve talk any impacts

Cliff Sifford

a were quarter you on there talk how up mid-single-digits I’m and and how fact sales the but – I the that for sure the tell mid-single-digits year less by unless stores of can and less quarter be we sure the in for had it about location some to increase to X.X% that the Not were our measure for – there to that was competition. not location basis, you –

closing, don’t region, down and or geographic where that less, to is always want the I our about the the over U.S. we’ve So, area specific so is to it’s get retailed fact – today talked competition but

Steven Martin

Okay.

very the has of were half you said you about second anticipatory the You enthused? what year back-to-school. of tell us in Can you back-to-school

Cliff Sifford

back-to-school it strongest plan very, you period, are as we I’m us. year. don’t I We just we’ve to back-to-school all want we because Well, holiday competitors’ and like for our the about we is excited to for to competitors important our year, give plan know it, very much spent listen and insight to the ours. entire product calls, too our listen seen. very time

we So, and excited put that about I’d you place. the that in just what are we tell we’ve seen plans

Steven Martin

Okay.

were of other newer markets you markets? some Puerto had underperforming you about talk a gotten And that some other had little that besides Could some your better. your Rico, of

Cliff Sifford

sure. I’m not

Steven Martin

the Detroit, without So, Houston?

Cliff Sifford

to It down signal get every compete I individual about want Steve, day. really conference with a really people a to markets. we call Again, talking in don’t sends

Steven Martin

Alright lot. not a Thanks a problem.

Cliff Sifford

Steve. thanks, Alright,

Operator

next our take Svezia now will We Chris of from question Wedbush.

Chris Svezia

follow-up Hey, one here. have I just

but months Just it the of terms you roll on couple inventory said purchases you nature. you’re the of know of already in more that you’ve got your a that clearly, are data before data mining’s I things just go the Cliff, and probably and in out, your marketing, you seeing CRM to things really utilizing real-quick, that initiatives

of back-to-school, some from talk about maybe I is to in the that right how before sort benefit really that? of totality, about do just or think start when, lever CRM Just initiative this you

Cliff Sifford

Chris, to that believe We going that ways. I two was answer

August we they how Our And really, this off are we and is season. took customers year about throughout them. were continued in were of we our took that excited fall our about excited and the Perks program very saw relaunched that what doing Shoe and last when off what messaging

that were great us So that right gave that down the confidence path. headed we

won’t program half monthly almost launch a won’t until, till improvements getting basis. we’re until the entire CRM, year. be with on done The the of So, second

our under marketing initiatives back-to-school we’re and but we we’ve, the that to the customers this reacting That’s all seeing utilized, this benefit in the are to at program. goal messaging but how fourth what we’re from prior are that using quarter. after Sometime point, learning

program to we until benefit CRM to So, entire fourth the continue see though the even from expect quarter. won’t launch

Chris Svezia

Okay, sounds it continued good. I success. and appreciate

Cliff Sifford

Thank Alright. you.

Operator

further time. for or back this any at Sifford I like Cliff questions no to hand additional to closing call are would now Mr. remarks. the There

Cliff Sifford

to for again you speaking just you say today. thank you forward participating I our in to call again. to look We Thank want May. on

Operator

and now you this participation, gentlemen, conference your for concludes Thank today’s call. Ladies disconnect. you may

Shoe Carnival (SCVL) 26 Mar 192018 Q4 Earnings call transcript