Provides Estimated Net Sales Range of $168.0 to $169.0 Million
Updates Fourth Quarter Comparable Stores Sales Expectations to a Range of 7% to 8%
EVANSVILLE, Ind. -- Shoe Carnival, Inc. (Nasdaq: SCVL) a leading retailer of value-priced footwear and accessories, today announced updated expectations for net sales and comparable store sales for the fourth quarter ending on January 30, 2010. Due to the timing of the Company鈥檚 upcoming participation at the ICR XChange Conference on January 14, 2010 the Company is providing this business update. The Company does not plan to provide preliminary financial information in the future other than in unique circumstances, or in the event of a material event that requires disclosure.
The Company now expects net sales to range from $168.0 to $169.0 million for the fourth quarter of 2009. For the quarter, the Company expects comparable store sales in the range of 7% to 8% versus previous guidance for comparable store sales of 3% to 5%.
鈥淲e are pleased that our value proposition for name brand footwear continues to resonate well with the consumer. This is resulting in sales above our original expectations for the fourth quarter,鈥?said Mark Lemond, Chanel Watches Shoe Carnival鈥檚 President and Chief Executive Officer. 鈥淥ur merchandise assortment is allowing us to capitalize on key fashion trends in women鈥檚 boots, athletic and toning categories. We continue to execute our strategy to gain long-term market share, improve profitability and generate free cash flow.鈥?
The Company plans to report fourth quarter and full year 2009 financial results on March 18, 2010.
About Shoe Carnival
Shoe Carnival is a chain of 317 footwear stores located in the Midwest, South and Southeast. Combining value pricing with an entertaining store format, Shoe Carnival is a leading retailer Vacheron Constantin Replica Watch 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鈥檚 press releases and annual report are available on the Company鈥檚 website at .
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, 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; the effects and duration of the current economic downturn and the impact on the credit markets; changes in the overall retail environment and more specifically in the apparel and footwear retail sectors; our ability to generate increased sales at our stores; 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, consume
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