EVANSVILLE, Ind., Nov. 19 /PRNewswire/ -- Shoe Carnival, Inc.
(Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories,
today announced that it has been recognized by Footwear News as the Chain
Retailer of the Year. Footwear News is the leading trade publication of the
footwear industry.
Mark L. Lemond, president and chief executive officer commented, "We take
it as a great compliment to be recognized as the best retail chain in the
footwear industry. We thank Footwear News for recognizing our achievements.
"In a year where most retailers have reported disappointing results, Shoe
Carnival has been the exception. Through the first three quarters of 2001 we
have achieved the highest sales, net earnings and earnings per share in the
Company's history. We consider our current success a culmination of the
changes made over the past five years. From the addition of better quality
brand names to the enhancement of our store design for better product
presentation and ease of shopping, all changes have been focused on profitable
long-term growth. By the end of the year we will have doubled our sales and
nearly doubled the number of stores operated during the past five years.
During that same timeframe we will have achieved a 25 percent compounded
annual growth rate for earnings and earnings per share.
"Success does not happen by accident and our success is no different. The
cornerstones of our success stem from the dedication and inspiration of our
3,500 employees, the support of our vendors, and the best retail concept in
the family footwear sector."
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
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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