Company Declares Quarterly Cash Dividend of $0.075 Per Share
EVANSVILLE, Ind.--(BUSINESS WIRE)--Sep. 13, 2017--
Shoe Carnival, Inc. (NASDAQ: SCVL), a leading retailer of moderately
priced footwear and accessories, announced today that its Board of
Directors has elected Charles Tomm, a Principal at Heritage Capital
Group, as a director effective September 12, 2017. With this addition,
Shoe Carnival’s Board has eight directors.
Cliff Sifford, President and Chief Executive Officer, commented, “We are
pleased to welcome Charlie to our Board of Directors. We look forward to
leveraging the diverse experiences and perspectives that he will bring
to the Board of Shoe Carnival.”
Mr. Tomm, currently a Principal at Heritage Capital Group, was President
and CEO of Brumos Automotive from January 2009 through March 2016. Prior
to that, he was President and CEO of the Coggin-Courtesy subsidiary of
Asbury Automotive Group. During his tenure with Coggin from 1994 to
2008, he served in several executive positions and managed the mergers
of Coggin Automotive with Asbury Automotive Group in 1998 and with
Courtesy Automotive Group in 2003. His prior business experience was in
investment banking, oil field services, trucking, and the private
practice of law with Winthrop, Stimson, Putnam & Roberts (now Pillsbury
Winthrop Shaw Pittman).
In addition, the Company’s Board of Directors approved the payment of a
quarterly cash dividend of $0.075 per share to be paid on October 16,
2017, to shareholders of record as of the close of business on October
2, 2017.
Future declarations of dividends are subject to approval of the Board of
Directors and will depend on the Company’s results of operations,
financial condition, business conditions and other factors deemed
relevant by the Board of Directors.
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 and regional name brands. As of September 13, 2017, the
Company operates 419 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. 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 on-line 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; 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; 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; changes in the political and
economic environments in, and continued favorable trade relations with,
China and other countries which are the major manufacturers of footwear;
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; 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170913006398/en/
Source: Shoe Carnival, Inc.
Shoe Carnival, Inc.
Cliff Sifford
President
and Chief Executive Officer
or
W. Kerry Jackson
Senior
Executive Vice President, Chief Operating and Financial Officer and
Treasurer
(812) 867-6471