EVANSVILLE, Ind., Aug. 9 /PRNewswire/ --
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of value-priced
footwear and accessories, today reported sales for the four-week period ended
August 4, 2001 increased 35.6 percent to $40 million from sales of
$29.5 million for the four-week period ended July 29, 2000. Comparable store
sales for the four-week period ended August 4, 2001 increased 0.1 percent as
compared with the four weeks ended August 5, 2000.
Sales for the 13-week second quarter ended August 4, 2001 increased
19.2 percent to $114 million from sales of $95.6 million for the prior year
second quarter ended July 29, 2000. Comparable store sales increased
2.1 percent for the 13-week period.
Sales for the first six months of 2001 increased 21 percent to
$231.2 million from sales of $191 million for the first six months of 2000.
Comparable store sales increased by 2.1 percent for the 26-week period.
Mark Lemond, president and chief executive officer stated, "Our sales in
the first three weeks of July were below our expectations, but with the start
of the back-to-school selling period in the fourth week of July, our sales
increased dramatically. The strong start to the back-to-school selling season
is encouraging as we head into the third quarter.
"We are very pleased with our quarterly sales results, especially given
the difficult retail environment. Our 2.1 percent comparable store sales
increase met the expectation we set at the beginning of the year."
The Company also announced the opening of six stores in July. The new
stores are located in Joplin, MO, Wichita, KS, Warner Robbins, GA, Lubbock, TX
and two stores in the Chicago area. This brings the total stores opened in
the first half of 2001 to 13.
Second quarter earnings will be announced by the Company on
August 16, 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 178 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 the telephone replay of Shoe Carnival, Inc.'s pre-recorded July
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.
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, both of Shoe Carnival, +1-812-867-4034
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