Shoe Carnival, Inc. reported sales December increased 6.4% to $57.0 million. Comparable store sales decreased 3.4%. Comparable store sales in December 2001 increased 5.0 percent.
Mark L. Lemond, president and chief executive officer, commented, “The month of December presented a tough challenge for retailers. While our sales were below plan, we were able to maintain better than expected gross margins for the month. Due to this margin improvement and tight expense controls, we remain comfortable with our previously announced earnings guidance of between $.12 and $.14 per share for the fourth quarter and between $1.21 and $1.23 for the full year of fiscal 2002.”
Sales for the first eleven months of 2002 increased 9.7 percent to $491.1 million from sales of $447.6 million for the first eleven months of 2001. Comparable store sales increased 0.2 percent for the 48-week period.
