EVANSVILLE, Ind., Nov. 8 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today reported sales for the four-week period ended November 3, 2001 increased
10.9 percent to $30.5 million from sales of $27.5 million for the four-week
period ended October 28, 2000. Comparable store sales increased 1.7 percent
in October 2001.
Mark L. Lemond, president and chief executive officer commented, "We are
pleased with our sales results, especially given the difficult retail
environment. A surge in consumer demand late in October resulted in a
1.7 percent increase in comparable store sales for the month. Our 2.5 percent
comparable store sales increase for the third quarter was better than our
previously stated expectations while gross margins were in-line with those
expectations."
Sales for the 13-week third quarter increased 8.7 percent to
$124.7 million from sales of $114.7 million for the 13-week quarter ended
October 28, 2000. Comparable store sales increased 2.5 percent for the 13-
week period.
Sales for the first nine months of 2001 increased 16.4 percent to
$355.9 million from sales of $305.7 million for the first nine months of 2000.
Comparable store sales increased 2.1 percent for the 39-week period.
To hear the telephone replay of Shoe Carnival, Inc.'s pre-recorded October
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.
Third quarter earnings results will be announced by the Company on
November 15, 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 183 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 and Chief
Financial Officer of Shoe Carnival, Inc., +1-812-867-4034
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