Shoe Carnival, Inc. reported sales for the five-week period ended October 2, 2004, increased 4.2% to $46.3 million from sales of $44.4 million for the five-week period ended October 4, 2003. Comparable store sales decreased 1.9% in September 2004.
Sales for the first eight months of 2004 increased 5.3% to $406.1 million from sales of $385.8 million for the first eight months of 2003. Comparable store sales decreased 1.8% for the 35-week period.
Mark L. Lemond, president and chief executive officer stated, “Unusual weather in September negatively affected our sales during the month. Multiple hurricanes and the accompanying flooding hampered our sales in the Southeast and Mid-Atlantic States while warm weather throughout the Midwest slowed the sales of our fall footwear. As fall progresses and cooler weather becomes the norm, we expect sales of boots and other types of fall footwear to accelerate. If, however, sales of fall merchandise do not accelerate in October, it is unlikely we will achieve our previously stated third quarter earnings guidance 38 cents to 42 cents per diluted share.”
The Company also announced the opening of five stores in September, one each in Clearwater, FL (Tampa Market); Tallahassee, FL; Ankeny, IA (Des Moines Market) Florissant, MO (St. Louis Market) and Roanoke, VA.
