Shoe Carnival, Inc. reported sales for the four-week period ended January 31, 2004 increased 6.4% to $30.2 million from sales of $28.4 million for the four-week period ended February 1, 2003. Comparable store sales decreased 3.3% in January 2004.

Women’s non-athletic was down “high singles” and
Men’s non-athletic was off in “mid singles” Kid's was up “mid singles”, while Athletic declined in “low singles”.
Accessories were “flat”


SCVL blamed the soft results on “lower customer traffic levels”, but said that Inventories are not overly burdened with clearance merchandise. Inventories are down 1% on a per store basis.


Sales for the 13-week fourth quarter increased 4.9 percent to $134.2 million from sales of $128.0 million for the 13-week quarter ended February 1, 2003. Comparable store sales decreased 4.9 percent for the thirteen-week period.

Sales for the 52-week 2003 fiscal year increased 7.4 percent to $557.9 million from sales of $519.7 million for the 2002 fiscal year ended February 1, 2003. Comparable store sales decreased 3.0 percent for the 52-week period.

Despite the sales results for January, management remains comfortable with the previously stated earnings guidance for the fourth quarter ranging from a loss of $0.01 to earnings of $0.02 per diluted share. Fourth quarter and full year results for 2003 are expected to be reported on March 11, 2004.

The Company also announced the closing of three stores during the month, one each in Athens, GA; Morrow, GA and Evansville, IN.