EVANSVILLE, Ind., April 11 /PRNewswire-FirstCall/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the five-week period ended April 6, 2002 increased
19.6 percent to $54.8 million from sales of $45.8 million for the five-week
period ended April 7, 2001. Comparable store sales increased 9.8 percent in
March 2002.
The Company noted that the week prior to Easter Sunday is historically the
peak of the Easter selling period. Last year Easter week was in April. In
2002, Easter week shifted into March; therefore, March and April sales results
should be combined for a more meaningful comparison to last year.
Sales for the nine-week period ended April 6, 2002 increased 17.1 percent
to $89.6 million from sales of $76.5 million for the nine-week period ended
April 7, 2001. Comparable store sales increased 7.6 percent for the two-month
period.
The Company also announced the opening of two new stores in March, one
each in Virginia Beach, VA and Louisville, KY.
To hear the telephone replay of Shoe Carnival, Inc.'s pre-recorded March
sales message, please dial 888-203-1112 followed by conference call I.D.
number 611339 beginning April 11, 2002 at 7:30 a.m. Eastern time. The
telephone replay will be available for one week.
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 potential impact of national and
international security concerns on the retail environment; the impact of
competition and pricing; changes in weather patterns, consumer buying trends
and the ability of the Company to identify and respond to emerging fashion
trends; risks associated with the seasonality of the retail industry; the
availability of desirable store locations at acceptable lease terms and the
ability of the Company to open new stores in a timely manner; higher than
anticipated costs associated with the closing of underperforming stores; the
inability of manufacturers to deliver products in a timely manner; and changes
in the political and economic environments in the People's Republic of China,
a major manufacturer of footwear, and the continued favorable trade
relationships between China and the United States.
Shoe Carnival is a chain of 185 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 .
SOURCE Shoe Carnival, Inc.
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Related links:
http://www.shoecarnival.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/127183.html
CONTACT:
Mark L. Lemond, President and Chief Executive
Officer, or W. Kerry Jackson, Senior Vice President and Chief
Financial Officer of Shoe Carnival, Inc., +1-812-867-4034
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