Shoe Carnival (SCVL) CEO Lemond to Retire
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Shoe Carnival, Inc. (Nasdaq: SCVL) announced today that Mark L. Lemond is retiring for health reasons from his positions as president, chief executive officer and director effective October 27, 2012.
The Company also announced several promotions of its senior executives effective October 27, 2012 to reallocate key responsibilities. Clifton E. Sifford, currently Executive Vice President – General Merchandise Manager, will succeed Mr. Lemond as President and Chief Executive Officer, on a permanent basis, and will also have the title of Chief Merchandising Officer. Mr. Sifford will join the Board of Directors effective October 27, 2012. W. Kerry Jackson, currently Executive Vice President – Chief Financial Officer and Treasurer, will assume the additional position of Chief Operating Officer. Timothy T. Baker, who is Executive Vice President – Store Operations, will also oversee all real estate operations at the Company.
The Company also reaffirmed that it expects its third quarter net sales to be in the range of $240 to $245 million with a comparable store sales increase in the range of 4 to 6 percent. Expected earnings per diluted share in the third quarter of fiscal 2012 were also reaffirmed in the range of $0.55 to $0.60. In the third quarter of fiscal 2011, the Company earned $0.52 per diluted share.
The Company also announced several promotions of its senior executives effective October 27, 2012 to reallocate key responsibilities. Clifton E. Sifford, currently Executive Vice President – General Merchandise Manager, will succeed Mr. Lemond as President and Chief Executive Officer, on a permanent basis, and will also have the title of Chief Merchandising Officer. Mr. Sifford will join the Board of Directors effective October 27, 2012. W. Kerry Jackson, currently Executive Vice President – Chief Financial Officer and Treasurer, will assume the additional position of Chief Operating Officer. Timothy T. Baker, who is Executive Vice President – Store Operations, will also oversee all real estate operations at the Company.
The Company also reaffirmed that it expects its third quarter net sales to be in the range of $240 to $245 million with a comparable store sales increase in the range of 4 to 6 percent. Expected earnings per diluted share in the third quarter of fiscal 2012 were also reaffirmed in the range of $0.55 to $0.60. In the third quarter of fiscal 2011, the Company earned $0.52 per diluted share.
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