Shoe Carnival Expands Board with Appointment of New Director
14 September 2017 - 6:05AM
Business Wire
Company Declares Quarterly Cash Dividend of
$0.075 Per Share
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170913006398/en/
Shoe Carnival, Inc.Cliff SiffordPresident and
Chief Executive OfficerorW. Kerry
JacksonSenior Executive Vice President, Chief Operating and
Financial Officer and Treasurer(812) 867-6471
Shoe Carnival (NASDAQ:SCVL)
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