EVANSVILLE, Ind., May 10 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the four-week period ended May 5, 2001 increased
19.2 percent to $40.6 million from sales of $34.1 million for the four-week
period ended April 29, 2000. Comparable store sales decreased 1.3 percent in
April 2001.
An earlier Easter this year shifted one week of the Easter selling period
from April last year into March this year. This shift accounted for the
negative comparable store sales in April. Combining the results for March and
April gives a more accurate reflection of the results of the Easter selling
season. For the combined months of March and April 2001, total sales
increased 23.6 percent to $86.5 million from $69.9 million for the two-month
period last year. Comparable store sales for the combined months of March and
April increased 4.3 percent.
Sales for the first quarter ended May 5, 2001 increased 22.8 percent to
$117.2 million from sales of $95.4 million for the first quarter ended
April 29, 2000. Comparable store sales increased 2.3 percent for the
thirteen-week period.
Mark Lemond, president and chief executive officer stated, "The strength
of our spring merchandise, combined with the warmer weather, resulted in
tremendous sales during the Easter selling period. While the earlier Easter
makes monthly sales comparisons to the prior year difficult, comparable store
sales for both March and April were above our expectations, and consequently,
so was the quarter."
Shoe Carnival, Inc. expects to announce first quarter results on May 17,
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 2000.
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 prerecorded April 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 135751.html or fax,
800-758-5804, ext. 127183 135751
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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