Shoe Carnival, Inc. reported sales for the four-week period ended August 2, 2003 increased 12.6 percent to $47.2 million from sales of $41.9 million for the four-week period ended August 3, 2002. Comparable store sales increased 0.3 percent in July 2003.
Mark L. Lemond, president and chief executive officer commented, “In the latter part of July our customer traffic and sales picked up significantly with the start of the back-to-school season. Customers have reacted favorably to our enhanced selection of junior product along with retro and classic white athletic product. The recent sales momentum reinforces our optimism for an improved sales trend in August as customers return to stores for their back-to-school shopping.”
The Company stated they continue to be comfortable with the previous earnings guidance of between $0.10 and $0.13. Management will report and discuss second quarter earnings on August 19, 2003.
Sales for the 13-week second quarter ended August 2, 2003 increased 7.9 percent to $134.5 million from sales of $124.6 million for the prior year second quarter ended August 3, 2002. Comparable store sales decreased 3.0 percent for the 13-week period.
Sales for the first six months of 2003 increased 6.8 percent to $271.3 million from sales of $254.0 million for the first six months of 2002. Comparable store sales decreased 4.3 percent for the twenty-six week period.
The Company also announced the opening of five stores during the month with locations in Lansing, MI, Grandville, MI (Grand Rapids area), Baton Rouge, LA, Wichita, KS and Orlando, FL. Two stores were closed during the month.
