EVANSVILLE, Ind., April 12 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the five-week period ended April 7, 2001 increased
27.9 percent to $45.8 million from sales of $35.8 million for the five-week
period ended April 1, 2000. Comparable store sales increased 10.0 percent in
March 2001.
Mark Lemond, president and chief executive officer, commented, "Our strong
sales for the month were attributable to an earlier Easter and warmer weather
late in the month. While the month started slowly due to cool and wet
weather, sales of Spring product, particularly sandals, improved significantly
with warmer weather late in the month. Additionally, sales of fashion
athletic product continues to be our hottest category.
"We are very pleased that the strong sales momentum we saw in the last
week of March is continuing as we enter the first week of April."
The Company noted that one week of the Easter selling period shifted from
April last year into March this year. March and April results should be
combined for a more meaningful comparison to last year.
Sales for the nine-week period ended April 7, 2001 increased 24.9 percent
to $76.5 million from sales of $61.3 million for the nine-week period ended
April 1, 2000. Comparable store sales increased 4.4 percent for the two-month
period.
The Company also announced the opening of two new stores in March, one
each in St. Louis, MO area and Richmond, VA area.
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 168 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 March 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.
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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