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Shoe Carnival updates Q4 2009 net sales expectations

20
Jan '10
Shoe Carnival, Inc. a leading retailer of value-priced footwear and accessories, 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's 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%.

“We 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,” said Mark Lemond, Shoe Carnival's President and Chief Executive Officer. “Our merchandise assortment is allowing us to capitalize on key fashion trends in women's boots, athletic and toning categories. We continue to execute our strategy to gain long-term market share, improve profitability and generate free cash flow.”

The Company plans to report fourth quarter and full year 2009 financial results on March 18, 2010.

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 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 Inc


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