Shoe Carnival profit drops in Q2, on track to open 13 net new stores

Evansville, Ind. -- Shoe Carnival reported Thursday that net income for the quarter ended July 30 dropped to $2.7 million from $4.1 million in the year-ago period. Sales edged up 0.8% to $166.7 million, and same-store sales dipped 1.1%. The shoe retailer said it expects to open 17 new stores and close four stores in fiscal 2011.