Shoe Carnival Inc. (NASDAQ:SCVL) Q1 2019 Earnings Conference Call - Final Transcript

May 22, 2019 • 04:30 pm ET

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Shoe Carnival Inc. (NASDAQ:SCVL) Q1 2019 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

Thank you. (Operator Instructions) We'll take our first question from Mitch Kummetz with Pivotal Research Group.

Analyst
Mitch Kummetz

Yeah. Thanks for taking my questions. I got a bunch. I'll ask a few and then jump back in. Just on the quarter itself, I think, when you guys reported the last quarter, you were pretty far into Q1. I know March was trending at a plan at that point February, obviously, was bad. I'm just curious was -- did April miss your expectations.

Executive
Clifton E. Sifford

April was positive because Easter--

Analyst
Mitch Kummetz

Yes.

Executive
Clifton E. Sifford

Easter moved into April. So April was positive. So it did not miss our expectations. As we just--

Analyst
Mitch Kummetz

Okay. I guess, I am surprised you were guiding to a low-single digit comp at that point unless -- is it do we see the need to--

Executive
Clifton E. Sifford

Mitch, I believe what we said was that, we were guiding for the year at a low-single digit comp, and I believe, Kerry, even mentioned the fact that it -- that would be loaded toward the back half of the year.

Analyst
Mitch Kummetz

Got it. Can you say what Q2 to-date looks like?

Executive
Clifton E. Sifford

No, we're not going to talk about Q2 today.

Analyst
Mitch Kummetz

Okay. Fair enough. And then on Sandals, I know Q2 is a big sandal quarter. Can you remind us what percent of sales it is in Q2, I want to say, it's maybe in that 20% range and how you guys are planning to--

Executive
Clifton E. Sifford

It's between 20% and 25% range.

Analyst
Mitch Kummetz

Yes.

Executive
Clifton E. Sifford

We'll get it for you and report that just second -- but it is between that 20% and 25%.

Analyst
Mitch Kummetz

And it was a really strong sandal quarter last year, I'm just wondering how you're thinking about lapping that. When you're guiding to the low-single digit comp on Q2, are you expecting more of that to be coming from the athletic side as you start to flow in some of these new Nike product or are you thinking that you can comp on sandals?

Executive
Clifton E. Sifford

Well, we believe we can comp on sandals that's number one, and without giving you a quarter-to-date or even a season to-date, we are not unhappy with our sandal performance. We do, however, expect and we don't talk about -- really don't want to get into brands, but we are excited about the product that we see coming in from back-to-school, which has begun, just slightly to flow in and will be coming in truly in the earnest in June and early July. So very excited about that and excited about what we have received so far.

Analyst
Mitch Kummetz

Okay. That sounds good. All right, I'll jump back into queue. Thanks.

Executive
Clifton E. Sifford

All right. Thank you.

Operator
Operator

Thank you. We'll take our next question from Greg Pendy of Sidoti.

Analyst
Greg Pendy

Hi, guys. Thanks for taking my question. I just, I guess, maybe a bigger picture you mentioned earlier 1,700 fewer stores. Can you kind of put that into context, I think, maybe two years back there was a big wave of store closings. I mean is this sort of the biggest