EVANSVILLE, Ind., Feb. 4 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the four-week period ended January 30, 1999,
increased 24.5 percent to $16.5 million from sales of $13.3 million for the
four-week period ended January 31, 1998. Comparable store sales increased
5.9 percent in January 1999 on top of a 14.6 percent increase recorded in
January 1998.
Mark L. Lemond, president and chief executive officer commented, "After a
slow start, due to severe winter storms, sales during the last two weeks in
January were very strong. We are especially pleased with the comparable store
sales increase of 5.9 percent in January 1999 given the 14.6 percent increase
in January 1998. Additionally, boot sales accelerated in January with the
more seasonal weather pattern. Due to this strong fourth quarter finish, our
inventories are in good shape as we enter the new fiscal year."
Sales for the thirteen-week fourth quarter increased 19.4 percent to
$69.8 million from sales of $58.4 million for the thirteen week quarter ended
January 31, 1998. Comparable store sales increased by 2.0 percent for the
thirteen-week period.
Sales for the 1998 fiscal year ended January 30, 1999, increased
13.6 percent to $280 million from sales of $246.5 million for the 1997 fiscal
year ended January 31, 1998. Comparable store sales increased by 3.6 percent
for the 52-week period.
The Company also announced that it closed a store in the Dayton, OH, area
on January 22, 1999.
Shoe Carnival is a chain of 111 footwear stores located in the Midwest and
mid-South. Combining value pricing with an entertaining store format, Shoe
Carnival is a leading retailer of name brand and private label footwear for
the entire family. Headquartered in Evansville, IN, Shoe Carnival trades on
the Nasdaq Stock Market under the symbol SCVL. Shoe Carnival's press releases
and 1997 annual report are available on the Company's website at
http://www.shoecarnival.com/.
SOURCE Shoe Carnival, Inc.
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Related links:
http://www.shoecarnival.com
Company News On-Call:
http://www.prnewswire.com/comp/127183.html or fax,
800-758-5804, ext. 127183
CONTACT:
Mark L. Lemond, President and Chief Executive
Officer, or W. Kerry Jackson, Vice President and Chief Financial
Officer, of Shoe Carnival, 812-867-4034
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