Shoe Carnival, Inc. reported sales for the four-week period ended May 3, 2003 increased 18.1 percent to $46.8 million from sales of $39.7 million for the four-week period ended May 4, 2002. Comparable store sales increased 5 percent in April 2003.
A later Easter this year shifted the two weeks preceding Easter from March last year into April this year. For the combined months of March and April 2003, total sales increased 7.3 percent to $101.4 million from $94.5 million for the two-month period last year. Comparable store sales for the combined months of March and April decreased 4.4 percent.
Sales for the thirteen-week period ended May 3, 2003 increased 5.8 percent to $136.9 million from sales of $129.4 million for the thirteen-week period ended May 4, 2002. Comparable store sales decreased 5.5 percent for the first quarter of 2003.
The Company stated it remains comfortable with its previously stated earnings guidance for the first quarter of $.38 to $.41 per diluted share. The results for the first quarter are expected to be released on May 15, 2003.
The Company also announced the opening of its first stores in Colorado with the opening of one store each in Denver and Fort Collins. A third Colorado store was opened on May 5th in Colorado Springs. Additionally, one store was opened in Green Bay, WI during April.
