EVANSVILLE, Ind., April 26 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today announced that it has entered into an expanded $45 million credit
facility with Mercantile Bank National Association, First Union National Bank
and Old National Bank. The unsecured credit facility can be used for both
cash advances and letters of credit.
Mark L. Lemond, president and chief executive officer, stated, "We are
very pleased with the Bank group's demonstrated support of our accelerated
expansion plans with the $10 million increase in the credit facility. Also,
we would like to welcome the addition of Old National Bank to the Bank group.
We feel that the increased borrowing capacity, along with cash generated from
operations, will allow for the continued growth of the Company."
Shoe Carnival is a chain of 113 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, Inc., 812-867-4034
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