Shoe Carnival, Inc. reported sales for the four-week period ended April 30, 2005 decreased 6.7% to $45.3 million from sales of $48.6 million for the four-week period ended May 1, 2004. Comparable store sales decreased 9.9% in April 2005.
An earlier Easter this year shifted the week preceding Easter, the highest sales volume week of the quarter, from April last year into March this year. This shift accounted for the negative comparable store sales in April. Combining the results for March and April gives a more accurate reflection of the results of the Easter selling season. For the combined months of March and April 2005, total sales increased 6.8% to $112.4 million from $105.2 million for the two-month period last year. Comparable store sales for the combined months of March and April increased 2.5% over last year.
Sales for the thirteen-week period ended April 30, 2005 increased 10.5% to $160.8 million from sales of $145.5 million for the thirteen-week period ended May 1, 2004. Comparable store sales increased 5.5% for the first quarter of 2005.
Mark Lemond, president and chief executive officer stated, “Our customers have responded favorably to our improved merchandise mix. This is our third quarter in a row with a comparable store sales increase, and one of our strongest increases in recent years. For the quarter, our southern stores saw the biggest increases. Although our northern stores improved modestly, we feel that unseasonably cool weather has hampered the sales of our spring product assortment. We expect our sales to accelerate in our northern markets as the weather becomes warmer.”
