EVANSVILLE, Ind., June 6 /PRNewswire-FirstCall/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the four-week period ended June 1, 2002 increased 7.7
percent to $36.9 million from sales of $34.3 million for the four-week period
ended June 2, 2001. Comparable store sales decreased 3.0 percent in May 2002.
Commenting on May's results, Mark Lemond, president and chief executive
officer stated, "Through most of May we experienced lackluster sales.
However, late in the month as warmer weather set in, our sales trend improved
substantially. Our commitment to maintaining leaner inventories, particularly
in women's seasonal footwear, contributed to better gross margins for May as
compared to last year."
Sales for the first four months of 2002 increased 9.8 percent to $166.3
million from sales of $151.5 million for the first four months of 2001.
Comparable store sales increased by 0.2 percent for the seventeen-week period.
The Company also announced the opening of four new stores in May, one each
in Rock Hill, SC (Charlotte area), Portage, MI (Grand Rapids area), Medina, OH
(Cleveland area) and Elyria, OH (Cleveland area).
To hear the telephone replay of Shoe Carnival, Inc.'s pre-recorded May
sales message, please dial 888-203-1112 followed by conference call I.D.
number 611339 beginning today at 7:30 a.m. Eastern time. The telephone replay
will be available for one week.
This press release contains forward-looking statements that involve a
number of risks and uncertainties. A number of factors could cause our actual
results, performance, achievements or industry results to be materially
different from any future results, performance or achievements expressed or
implied by these forward-looking statements. These factors include, but are
not limited to: general economic conditions in the areas of the United States
in which our 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; changes in our relationships with key suppliers; the impact of
competition and pricing; changes in weather patterns, consumer buying trends
and our ability 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 our ability 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 trade relationships
between the United States and countries which are the major manufacturers of
footwear.
In addition, these forward-looking statements necessarily depend upon
assumptions, estimates and dates that may be incorrect or imprecise and
involve known and unknown risks, uncertainties and other factors. Accordingly,
any forward-looking statements included in this press release do not purport
to be predictions of future events or circumstances and may not be realized.
Forward-looking statements can be identified by, among other things, the use
of forward-looking terms such as "believes," "expects," "may," "will,"
"should," "seeks," "pro forma," "anticipates," "intends" or the negative of
any of these terms, or comparable terminology, or by discussions of strategy
or intentions. Given these uncertainties, we caution investors not to place
undue reliance on these forward-looking statements, which speak only as of the
date hereof. We disclaim any obligation to update any of these factors or to
publicly announce any revisions to the forward-looking statements contained in
this press release to reflect future events or developments.
Shoe Carnival is a chain of 192 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, Chief
Financial Officer and Treasurer of Shoe Carnival, Inc.,
+1-812-867-4034
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