EVANSVILLE, Ind., March 7 /PRNewswire/ --
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of value-priced
footwear and accessories, today reported sales for the four-week period ended
March 3, 2001 increased 20.6 percent to $30.6 million from sales of
$25.4 million for the four-week period ended February 26, 2000. Comparable
store sales decreased 2.8 percent for the month versus a 4.7 percent increase
in the comparable four-week period last year.
Mark Lemond, president and chief executive officer, commented, "February
has always been a month of transition, and sales are largely dependent upon
the weather. Last year, warm weather during the last two weeks of February
kicked-off sales of sandal product and resulted in mid double-digit comparable
store sales increases for that two-week period. Unfortunately, this
February's unseasonably cold and wet weather limited our sales of Spring
merchandise, particularly sandals. We expect our sales to significantly
improve during the key months of March and April as the weather turns warmer."
The Company also announced the opening of one store during the month in
Midland, TX.
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 166 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 February 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, both of Shoe Carnival, 812-867-4034
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