Shoe Carnival July sales drop 0.4%

05 Aug '05

3 min read

A leading value-priced footwear and accessories retailer Shoe Carnival Inc reported sales for the four-week period ended July 30, 2005 decreased 0.4 percent to $46.2 million from sales of $46.4 million for the four-week period ended July 31, 2004. Comparable store sales decreased 4.8 percent in July 2005.

Commenting on July sales, Mark Lemond, President and Chief Executive Officer, stated "Company started the month with comparable store sales increases through the middle of July. However, for the second consecutive year, they experienced a slower than expected start to the back-to-school sales period in the fourth week of July and continuing into the first week of August. They feel good about both the quantity and content of their inventory position as they move into the heart of the back-to-school season."

Sales for the thirteen-week period ended July 30, 2005 increased 7.6 percent to $148.7 million from sales of $138.1 million for the thirteen-week period ended July 31, 2004. Comparable store sales increased 2.9 percent for the second quarter of 2005.

Additionally Lemond commented, "They are especially excited about the progress they have made with respect to re-establishing their women's non-athletic business. For their second quarter, this category represented 26.2 percent of total sales, up from 23.5 percent last year for the same period. This category for the quarter also achieved a double digit comp-store sales increase, which was significantly better than any other product category."

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