8233 Baumgart Road
Evansville, IN 47725
www.shoecarnival.com
(812) 867-4037 | 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 FOURTH QUARTER SALES AND AFFIRMS EARNINGS GUIDANCE
Evansville, Indiana, February 8, 2007 - Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of value-priced footwear and accessories, today reported sales for the fourteen-week period ended February 3, 2007, increased 8.3 percent to $177.2 million from sales of $163.6 million for the thirteen-week period ended January 28, 2006. Comparable store sales for the thirteen-week period ended January 27, 2007 decreased 0.9 percent.
The fourth quarter of fiscal 2006 includes 14 weeks compared to 13 weeks in the fourth quarter of fiscal 2005 and the full fiscal year of 2006 includes 53 weeks compared with 52 weeks in the full fiscal year of 2005.
Sales for the 53-week 2006 fiscal year ended February 3, 2007, increased 4.0 percent to $681.7 million from sales of $655.6 million for the 52-week 2005 fiscal year ended January 28, 2006. Comparable store sales for the 52-week period ended January 27, 2007 increased 1.5 percent.
The Company continues to expect diluted earnings per share to be $0.36 to $0.38 for the fourth quarter of 2006 and $1.72 to $1.74 for the full fiscal year. This compares to earnings per diluted share last year of $0.22 in the fourth quarter and $1.40 for the full fiscal year.
The Company also announced the opening of two stores and the closing of one store during the fourth quarter.
To hear the telephone replay of Shoe Carnival, Inc.'s pre-recorded fourth quarter sales message, please dial 888-203-1112 followed by conference call I.D. number 611339 beginning February 8, 2007 at 7:30 a.m. Eastern time. The telephone replay will be available for one week.
Fourth Quarter Earnings Release
Fourth quarter financial results will be released before the market opens on Thursday, March 15, 2007. Later that day, at 2:00 p.m. Eastern time, the Company will host a conference call to discuss the fourth quarter results. The public can listen to the live webcast of the call by visiting Shoe Carnival's Investor Relations page at www.shoecarnival.com. While the question-and-answer session will be available to all listeners, questions from the audience will be limited to institutional analysts and investors. A replay of the webcast will be available on our website beginning approximately two hours after the conclusion of the conference call and will be archived for one year.
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 or other natural disasters on our st ores, as well as on consumer 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 under-performing 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 forward-l ooking statements contained in this press release to reflect future events or developments.
Shoe Carnival is a chain of 271 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 LLC 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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