Shoe Carnival Begins Initial Store Re-Openings
May 04 2020 - 9:00AM
Business Wire
Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading
retailer of moderately priced footwear and accessories, today
announced plans to re-open the majority of its stores across the
United States.
On Friday, May 1, 2020, the Company re-opened 122 stores in
states where state and local officials have relaxed or cancelled
their orders. Additionally, today, May 4, 2020, we will add
approximately 62 additional stores to our open list.
“The last six weeks has brought about unprecedented challenges
as the COVID-19 pandemic took hold of the country. However, as many
states begin to restart their economies, the Shoe Carnival team is
thrilled to be welcoming our loyal customers back into our stores
as the summer season begins. Initial openings on Friday went
smoothly and customer traffic was brisk in most stores,” commented
Cliff Sifford, Shoe Carnival’s Vice Chairman and Chief Executive
Officer. “To ensure the health and safety of our employees and
customers, we have taken extraordinary measures ahead of the store
re-openings. All of our stores have been supplied with personal
protective equipment (PPE), we have intensified cleaning and
sanitation procedures, and prominently displayed signage to
reinforce social distancing and good hygiene. While we understand
that the new normal we find ourselves in is unlike anything we have
seen in our lifetimes, we are excited to re-engage with our
customers and have our team members back in the stores.”
Shoe Carnival plans to open additional stores over the coming
days and weeks, in-line with state and local guidelines, with a
goal of having most stores open to the public by the end of May. As
always, the Company will continue to serve its customers through
its website, www.shoecarnival.com, and mobile app. Updates
regarding the Company’s store hours and operations can also be
found on the Company’s website.
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 May 4, 2020,
the Company operates 390 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 the timing of the
re-opening of our stores, customer traffic after re-opening, the
PPE installed at our stores, and other statements regarding the
impact of COVID-19 on our operations. 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: the duration and spread of the COVID-19 outbreak,
mitigating efforts deployed by government agencies and the public
at large, and the overall impact from such outbreak on the
operations of our stores, economic conditions, financial market
volatility, consumer spending and our supply chain and distribution
processes; 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; the
success of the open-air shopping centers where our stores are
located and its impact on our ability to attract customers to our
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; our
ability to control costs and meet our labor needs in a rising wage
environment; 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; our ability to successfully manage our
current real estate portfolio and leasing obligations; changes in
weather, including patterns impacted by climate change; changes in
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, other public health crises, political crises and other
catastrophic events on our stores and our suppliers, 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; continued volatility and disruption in the capital and
credit markets; 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/20200504005369/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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