Shoe Carnival, Inc. reported sales of $146.9 million for the thirteen-week period ended July 29, 2006 compared to sales of $148.7 million for the thirteen-week period ended July 30, 2005. Comparable store sales decreased 1.0% for the second quarter of 2006.
Sales for the first six months of 2006 increased 1.9% to $315.4 million from sales of $309.4 million for the first six months of 2005. Comparable store sales increased 1.8% for the twenty-six week period.
Commenting on sales, Mark Lemond, president and chief executive officer, stated “We continue to perform well with our men’s and women’s dress and casual product achieving respectable comparable store sales increases in the second quarter. However, sales of our athletic product were below expectations.”
Based on the second quarter sales results, the Company now expects diluted earnings per share to be 20 cents or 21 cents for the second quarter of 2006.
The Company also announced the opening of four stores and closed two during the second quarter.