Cliff Sifford is Appointed Vice Chairman and Continues as
Chief Executive Officer
Mark Worden Succeeds Cliff Sifford as President and is
Appointed Chief Customer Officer
Tim Baker is Appointed Chief Retail Operations
Officer
Shoe Carnival, Inc. (Nasdaq: SCVL) (“the Company”), a leading
retailer of moderately priced footwear and accessories, today
announced several executive appointments to support its ongoing
customer-centric business transformation and to create a management
structure aligned with the Company’s long-term strategic plan.
Cliff Sifford, in addition to continuing to serve as Chief
Executive Officer, also assumed the role of Vice Chairman of the
Board of Directors. Mr. Sifford relinquished the President title.
Mr. Sifford has been employed by the Company for 22 years and has
been President, Chief Executive Officer and a Director since
October 2012.
Mark Worden, previously Shoe Carnival’s Executive Vice President
– Chief Strategy and Marketing Officer, was appointed to the
position of President and Chief Customer Officer. In this newly
created position, Mr. Worden will focus on all customer-facing
activities including store operations, ecommerce, customer
relationship management, marketing and real estate. He will
continue to report to Mr. Sifford in his new position. Mr. Worden
joined Shoe Carnival in 2018 with nearly 25 years of brand
management, marketing and executive management experience,
including leading international consumer packaged goods brands at
the SC Johnson Company and Kimberly-Clark Corporation.
Tim Baker, previously Executive Vice President – Store
Operations, was appointed to the newly created position of
Executive Vice President – Chief Retail Operations Officer,
reporting to Mr. Worden. In this role, Mr. Baker will continue to
lead store operations and will have greater focus on the customer
experience, store growth and team development. Mr. Baker has been
with the Company for over 30 years.
Kerry Jackson, previously Senior Executive Vice President –
Chief Financial and Operating Officer and Treasurer, was appointed
the Senior Executive Vice President – Chief Financial and
Administrative Officer and Treasurer. Mr. Jackson will continue to
lead the financial and treasury functions, as he has done for the
past 23 years, and will also focus on strategic administrative
initiatives as the Company continues to evolve its infrastructure
to support its long-term growth objectives.
“On behalf of our Board of Directors, I am very pleased to
announce these executive appointments,” commented Mr. Sifford.
“Mark has played an integral role in our strategic development in
the last year, and we are excited to have him take on this newly
created position as we continue to evolve our business to connect
with new and existing customers where and when they want to shop
for family footwear. Tim and Kerry are outstanding leaders, whose
new roles position them to more directly support our long-term
strategic plan. As a team, we look forward to building on our
accomplishments to generate sustainable growth and shareholder
value.”
Mr. Worden commented, “I am honored to be appointed to the role
of President and Chief Customer Officer of Shoe Carnival and would
like to thank Cliff and the Board of Directors for their support. I
am thrilled to join Cliff in leading our customer-centric
organization with over 5,000 committed team members and an
experienced management team. We are well positioned to capture
strategic growth opportunities and to identify emerging shopper
trends as we expand beyond the billion dollar revenue
milestone.”
Mr. Sifford concluded, “It is my pleasure to lead a very
experienced team of leaders across the organization, and I believe
we have developed a strong foundation for long-term success. Shoe
Carnival is a unique company with a high-performing team of people
who care about delivering superior customer service and on-trend
footwear with an authentic in-store experience.”
About Shoe Carnival
Shoe Carnival, Inc. is one of the nation’s largest family
footwear retailers, offering a broad assortment of moderately
priced dress, casual and athletic footwear for men, women and
children with emphasis on national name brands. As of September 19,
2019, the Company operates 392 stores in 35 states and Puerto Rico,
and offers online shopping at www.shoecarnival.com. Headquartered
in Evansville, IN, Shoe Carnival trades on The NASDAQ Stock Market
LLC under the symbol SCVL. Shoe Carnival's press releases and
annual report are available on the Company's website at
www.shoecarnival.com.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, that involve a number of risks and uncertainties, including
but not limited to statements regarding our customer-centric
business transformation and our future growth and success. A number
of factors could cause our actual results, performance,
achievements or industry results to be materially different from
any future results, performance or achievements expressed or
implied by these forward-looking statements. These factors include,
but are not limited to: general economic conditions in the areas of
the continental United States in which our stores are located and
the impact of the ongoing economic crisis in Puerto Rico on sales
at, and cash flows of, our stores located in Puerto Rico; the
effects and duration of economic downturns and unemployment rates;
changes in the overall retail environment and more specifically in
the apparel and footwear retail sectors; our ability to generate
increased sales at our stores; our ability to successfully navigate
the increasing use of online retailers for fashion purchases and
the impact on traffic and transactions in our physical stores; our
ability to attract customers to our e-commerce website and to
successfully grow our e-commerce sales; the potential impact of
national and international security concerns on the retail
environment; changes in our relationships with key suppliers;
changes in the political and economic environments in, the status
of trade relations with, and the impact of changes in trade
policies and tariffs impacting, China and other countries which are
the major manufacturers of footwear; the impact of competition and
pricing; our ability to successfully manage and execute our
marketing initiatives and maintain positive brand perception and
recognition; changes in weather patterns, consumer buying trends
and our ability to identify and respond to emerging fashion trends;
the impact of disruptions in our distribution or information
technology operations; the effectiveness of our inventory
management; the impact of natural disasters on our stores, as well
as on consumer confidence and purchasing in general; risks
associated with the seasonality of the retail industry; the impact
of unauthorized disclosure or misuse of personal and confidential
information about our customers, vendors and employees, including
as a result of a cyber-security breach; our ability to manage our
third-party vendor relationships; our ability to successfully
execute our business strategy, including the availability of
desirable store locations at acceptable lease terms, our ability to
open new stores in a timely and profitable manner, including our
entry into major new markets, and the availability of sufficient
funds to implement our business plans; higher than anticipated
costs associated with the closing of underperforming stores; the
inability of manufacturers to deliver products in a timely manner;
the impact of regulatory changes in the United States and the
countries where our manufacturers are located; the resolution of
litigation or regulatory proceedings in which we are or may become
involved; our ability to meet our labor needs while controlling
costs; and future stock repurchases under our stock repurchase
program and future dividend payments; and other factors described
in the Company’s SEC filings, including the Company’s latest Annual
Report on Form 10-K.
In addition, these forward-looking statements necessarily depend
upon assumptions, estimates and dates that may be incorrect or
imprecise and involve known and unknown risks, uncertainties and
other factors. Accordingly, any forward-looking statements included
in this press release do not purport to be predictions of future
events or circumstances and may not be realized. Forward-looking
statements can be identified by, among other things, the use of
forward-looking terms such as “believes,” “expects,” “may,” “will,”
“should,” “seeks,” “pro forma,” “anticipates,” “intends” or the
negative of any of these terms, or comparable terminology, or by
discussions of strategy or intentions. Given these uncertainties,
we caution investors not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
We disclaim any obligation to update any of these factors or to
publicly announce any revisions to the forward-looking statements
contained in this press release to reflect future events or
developments.
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version on businesswire.com: https://www.businesswire.com/news/home/20190919005907/en/
Cliff Sifford Vice Chairman and Chief Executive Officer, or W.
Kerry Jackson Senior Executive Vice President, Chief Financial and
Administrative Officer and Treasurer
7500 East Columbia Street Evansville, IN 47715
www.shoecarnival.com (812) 867-6471
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