Shoe Carnival, Inc. raised its expectations for the fourth quarter. The off-price shoe chain now expects net sales to range from $168.0 to $169.0 million for the fourth quarter of 2009. Comparable store sales in the range of 7% to 8% versus previous guidance for comparable store sales of 3% to 5%.
The company provided the update due to the timing of its upcoming participation at the ICR XChange Conference on January 14.
“We are pleased that our value proposition for name brand footwear continues to resonate well with the consumer. This is resulting in sales above our original expectations for the fourth quarter,” said Mark Lemond, Shoe Carnival’s president and CEO. “Our merchandise assortment is allowing us to capitalize on key fashion trends in women’s boots, athletic and toning categories. We continue to execute our strategy to gain long-term market share, improve profitability and generate free cash flow.”
The company plans to report fourth quarter and full year 2009 financial results on March 18, 2010.
