Shoe Carnival, Inc. reported sales for the four-week period ended May 31, 2003 increased 7.3 percent to $39.6 million from sales of $36.9 million for the four-week period ended June 1, 2002. Comparable store sales decreased 3.8 percent for the month.
The Company stated that while it is currently trending at the low end of its previously stated earnings guidance for the second quarter of $.27 to $.31 per diluted share, further comparable store sales declines would likely result in earnings below the guidance.
Sales for the first four months of 2003 increased 6.1 percent to $176.4 million from sales of $166.3 million for the first four months of 2002. Comparable store sales decreased 5.1 percent for the seventeen-week period.
