Shoe Carnival Inc. on Thursday provided an update on its operations in response to the continued spread of COVID-19.
To do its part in helping to prevent the rapid spread of the virus and to align with the evolving guidance from federal and local health officials, Shoe Carnival will temporarily close its stores to consumers across the U.S. and Puerto Rico until April 2, 2020, effective today. The company will continue to pay store associates as scheduled during this period.
“The health and safety of our employees, our customers and the communities we serve is our primary concern. While the decision to close our stores was not made lightly, we believe ensuring the well-being of our teams and doing our part to minimize the spread of this deadly virus is the right one. We will continue serving our loyal customers through our website, shoecarnival.com, and our mobile app,” said Cliff Sifford, Shoe Carnival’s Vice Chairman and Chief Executive Officer.
Sifford concluded, “The impact of COVID-19 is developing rapidly, and rest assured, we are monitoring this situation closely. Our leadership team and Board of Directors remain committed to supporting our employees and the Shoe Carnival community. We believe that our strong balance sheet, including availability on our $50 million credit facility, and our long-standing vendor relationships will provide us sufficient flexibility to meet the needs of our stakeholders during this difficult time.”
Shoe Carnival will release fourth quarter and fiscal year 2019 earnings results on Wednesday, March 25, 2020, after the market close and will host its quarterly conference call to discuss fourth quarter and fiscal year 2019 results at 4:30 p.m. Eastern Time. Due to the uncertainty caused by COVID-19, the company will not be releasing fiscal year 2020 guidance in its earnings release or during the conference call.
Photo courtesy Shoe Carnival
