8233 Baumgart Road
Evansville, IN 47725
www.shoecarnival.com
(812) 867-4034 | Contact Mark L. Lemond
President and Chief Executive Officer
or W. Kerry Jackson
Executive Vice President, Chief Financial Officer
and Treasurer |
FOR IMMEDIATE RELEASE | |
SHOE CARNIVAL REPORTS OCTOBER SALES; COMPARABLE
STORE SALES INCREASED 21.2 PERCENT
Evansville, Indiana, November 3, 2005 - Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories, today reported that sales for the four-week period ended October 29, 2005 increased 24.3 percent to $49.8 million from sales of $40.0 million for the four-week period ended October 30, 2004. Comparable store sales increased 21.2 percent in October 2005.
Commenting on October sales, Mark Lemond, president and chief executive officer, stated "October was a great month for Shoe Carnival. In fact, the month's comparable store sales increase was the second highest in the Company's history. Although our women's dress, casual and boot product substantially outperformed our expectations, all of our product categories recorded significant comparable stores sales increases."
Sales for the thirteen-week period ended October 29, 2005 increased 12.3 percent to $182.7 million from sales of $162.7 million for the thirteen-week period ended October 30, 2004. Comparable store sales increased 8.3 percent for the third quarter of 2005.
Sales for the first nine months of 2005 increased 10.3 percent to $492.1 million from sales of $446.3 million for the first nine months of 2004. Comparable store sales increased 5.5 percent for the thirty-nine week period.
Based on the October sales performance, the Company now expects diluted earnings per share to be $0.52 or $0.53 for the third quarter of 2005.
The Company will release its third quarter financial results on Thursday, November 17, 2005.
The Company also announced the opening of two stores during the month, one each in Sioux City, IA and Chesapeake, VA.
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 November 3, 2005 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; the impact of hurricanes on our stores, as well as on consu mer confidence and purchasing in general; 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 and profitable manner; higher than anticipated costs associated with the closing of underperforming stores; the inability of manufacturers to deliver products in a timely manner; changes in the political and economic environments in the People's Republic of China, a major manufacturer of footwear; and the continued favorable trade relations between the United States and China and other 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 forwa rd-looking statements contained in this press release to reflect future events or developments.
Shoe Carnival is a chain of 266 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 www.shoecarnival.com.
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