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Decrease in merchandise margin at Shoe Carnival

29 May '08
2 min read

Our merchandising group kept inventories flat on a per store basis when compared to the end of the first quarter of 2007. Seasonal product sales were disappointing, particularly in the sandals and opened up dress shoe categories.

Our management team did a commendable job controlling selling, general and administrative expenses during the quarter.

These expenses were flat on a dollar basis year over year, despite ending the first quarter with fifteen more stores than the prior year."

"We anticipate the challenging economic environment will continue to impact our targeted moderate income consumer in 2008.

As a result, we will continue to plan and execute our business in a conservative manner and our merchandising group is more focused than ever on reducing inventory levels in weaker performing footwear categories."

Shoe Carnival Inc

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