Shoe Carnival (SCVL) Extends Date of Buyback Plan

Shoe Carnival, Inc. (Nasdaq: SCVL) a leading retailer of value-priced footwear and accessories, announced its Board of Directors on December 12, 2011 extended the date of expiration of its current $25 million share repurchase program from December 31, 2011 to December 31, 2012.

Mark Lemond, president and chief executive officer stated, "We remain committed to operating our business with the long-term goal of increasing total shareholder return. We continue to believe our strong unleveraged financial position provides a solid platform for additional square footage growth which will serve to deliver the most opportunity for return of value to our investors. For fiscal 2012, we expect to accelerate our new store openings by adding a net of 25 locations. We view our repurchase program as an additional opportunity to return value to our shareholders and are pleased that our Board of Directors has extended the current program."

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