EVANSVILLE, Ind., Feb. 8 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the five-week period ended February 3, 2001,
increased 58.9 percent to $29.6 million from sales of $18.6 million for the
four-week period ended January 29, 2000. Comparable store sales increased
4 percent in January for the four-week period ended January 27, 2001.
Comparable store sales for the five-week period ended February 3, 2001
increased 4.4 percent.
Sales for the fourteen-week fourth quarter ended February 3, 2001
increased 33.2 percent to $112.4 million from sales of $84.4 million for the
thirteen-week fourth quarter ended January 29, 2000. Comparable store sales
for the thirteen-week period ended January 27, 2001 increased 5.9 percent.
Sales for the 53-week 2000 fiscal year ended February 3, 2001, increased
23 percent to $418.1 million from sales of $339.9 million for the 52-week 1999
fiscal year ended January 29, 2000. Comparable store sales for the 52-week
period ended January 27, 2001 increased 2.5 percent.
Due to better than expected sales and gross profit margins during the
holiday selling period, the Company expects diluted earnings per share to be
in the range of $0.05 to $0.06 per share for the fourth quarter. Diluted
earnings per share during the fourth quarter last year were $0.03 per share.
Mark Lemond, president and chief executive officer stated, "January
concludes a record setting year for the Company. Sales for the fourth quarter
and year were the highest in the Company's history and estimated diluted
earnings per share for the year are the second best performance in the
Company's history. Although the year started slowly, our performance improved
significantly during the back-to-school season and accelerated through the
holiday season. We look forward to 2001 with the expectation that our sales
and earnings momentum will continue into next year."
The Company also announced the opening of one store in San Marcos, TX in
January. Additionally, four stores were closed in the Detroit area during the
month.
Fourth quarter and year-end results are expected to be released on
March 7, 2001.
This release contains certain forward-looking statements that involve a
number of risks and uncertainties. Among the factors that could cause actual
results to differ materially are the following: general economic conditions
in the areas of the United States in which the Company's stores are located;
changes in the overall retail environment and more specifically in the apparel
and footwear retail sectors; the impact of competition, weather patterns,
consumer buying trends and the ability of the Company to identify and respond
to emerging fashion trends; the availability of desirable store locations and
management's ability to negotiate acceptable lease terms and open new stores
in a timely manner; higher than anticipated costs associated with the closing
of underperforming stores; and other factors described in the Company's form
10-K for fiscal year 1999.
Shoe Carnival is a chain of 165 footwear stores located in the Midwest,
South and Southeast. 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 annual report are available on the Company's
website at http://www.shoecarnival.com/ .
To hear Shoe Carnival, Inc.'s pre-recorded January sales message, log onto
Shoe Carnival's corporate information page at http://www.shoecarnival.com for an
audio replay beginning today at 7:30 a.m. Eastern time. This replay will be
accessible for two weeks following the call.
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, Inc., 812-867-4034
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