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24 Jan 2014 - 01:26:00 pm

Shoe Carnival Announces Extension to Share Repurchase Program - Yahoo Finance

Shoe Carnival Announces Extension to Share Repurchase Program - Yahoo Finance


Shoe Carnival, Inc. (SCVL), a leading retailer of value-pricedfootwear and accessories, today announced its Board of Directorsextended the expiration date of its existing $25.0 million sharerepurchase program to December 31, 2014. The repurchase program wasoriginally approved by the Company"s Board of Directors on August 23,2010.

The Company has funded, and will continue to fund, the share repurchaseprogram from cash on hand. Share repurchases may be made in the openmarket or through privately negotiated transactions from time-to-timeand in accordance with applicable laws, rules and regulations. The totalnumber and value of the shares to be purchased will depend on theperformance of the Company"s share price and other market conditions. Asof January 6, 2014, $20.3 million of the authorization was available forfuture repurchases.

About Shoe Carnival

Shoe Carnival, Inc. is one of the nation"s largest family footwearretailers, offering a broad assortment of value priced dress, casual andathletic footwear for men, women and children with emphasis on nationaland regional name brands. As of January 6, 2014, the Company operates381 stores in 32 states and Puerto Rico, and offers online shopping at in Evansville, IN, Shoe Carnival trades on The NASDAQStock Market LLC under the symbol SCVL. Shoe Carnival's press releasesand annual report are available on the Company's website at

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking statements, within themeaning of the Private Securities Litigation Reform Act of 1995, thatinvolve a number of risks and uncertainties. A number of factors couldcause our actual results, performance, achievements or industry resultsto be materially different from any future results, performance orachievements expressed or implied by these forward-looking statements.These factors include, but are not limited to: general economicconditions in the areas of the continental United States and Puerto Ricoin which our stores are located; the effects and duration of economicdownturns and unemployment rates; changes in the overall retailenvironment and more specifically in the apparel and footwear retailsectors; our ability to generate increased sales at our stores; thepotential impact of national and international security concerns on theretail environment; changes in our relationships with key suppliers; theimpact of competition and pricing; changes in weather patterns, consumerbuying trends and our ability to identify and respond to emergingfashion trends; the impact of disruptions in our distribution orinformation technology operations; the effectiveness of our inventorymanagement; the impact of hurricanes or other natural disasters on ourstores, as well as on consumer confidence and purchasing in general;risks associated with the seasonality of the retail industry; ourability to successfully execute our growth strategy, including theavailability of desirable store locations at acceptable lease terms, ourability to open new stores in a timely and profitable manner, includingour entry into major new markets, and the availability of sufficientfunds to implement our growth plans; higher than anticipated costsassociated with the closing of underperforming stores; our ability tosuccessfully grow our e-commerce business; the inability ofmanufacturers to deliver products in a timely manner; changes in thepolitical and economic environments in China, Brazil, Europe and EastAsia, where the primary manufacturers of footwear are located; theimpact of regulatory changes in the United States and the countrieswhere our manufacturers are located; the continued favorable traderelations between the United States and China and the other countrieswhich are the major manufacturers of footwear; and other factorsdescribed in the Company"s SEC filings, including the Company"s latestAnnual Report on Form 10-K.

In addition, these forward-looking statements necessarily depend uponassumptions, estimates and dates that may be incorrect or imprecise andinvolve known and unknown risks, uncertainties and other factors.Accordingly, any forward-looking statements included in this pressrelease do not purport to be predictions of future events orcircumstances and may not be realized. Forward-looking statements can beidentified by, among other things, the use of forward-looking terms suchas "believes," "expects," "may," "will," "should," "seeks," "pro forma,""anticipates," "intends" or the negative of any of these terms, orcomparable terminology, or by discussions of strategy or intentions.Given these uncertainties, we caution investors not to place unduereliance on these forward-looking statements, which speak only as of thedate hereof. We disclaim any obligation to update any of these factorsor to publicly announce any revisions to the forward-looking statementscontained in this press release to reflect future events or developments.

Consumer DiscretionaryInvestment & Company InformationShoe CarnivalContact:Shoe Carnival, Inc.
Cliff Sifford
President, Chief Executive Officer and Chief Merchandising Officer
W. Kerry Jackson
Senior Executive Vice President
Chief Operating and Financial Officer and Treasurer
(812) 867-6471

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