Good afternoon, and welcome to Shoe Carnival’s Fiscal Year
Nike Free Run 2 Orange Yellow Mujeres Sale Con La Variedad De Estilos y Colores 2013 Second
Nike Free Run 3.0 grises azules claros Mujeres Con Precio Barato Quarter Earnings Conference Call. Today’s call is being recorded and
Nike Free Run 3.0 V7 ​​Azul Negro Mujeres Venta is also being broadcast via live webcast. Any reproduction or rebroadcast of any portion of this call is expressly prohibited.

This conference may contain forward looking statements that involve a number of
2012 Nike Free Run 3 Gris Verde Mujeres Adicional 50% De Descuento En Liquidación risk factors. These risk factors could cause
Nike Free Run Powerlines Rainbow amarillas Hombres Con El Envío Libre El 70% De Descuento the company’s actual results to be materially different from those
2012 Nike Free Run 2.0 Gris Púrpura Mujeres Usted Encontrará Las Últimas Estilos projected in such statements. These forward looking statements should be considered in conjunction with the
2014 Nike Free Run Gimnasio Hombres blancos Proporciona Varios 50% De Descuento discussion of risk factors included in the
2012 Nike Free Run 2.0 Gris Azul Blanco Mujeres Hasta 65% De Descuento En Las Tiendas o Tienda company’s SEC filings and today’s press release. Investors are cautioned not to place undue reliance on these forward looking statements, which speak
2012 Nike Free Run Tr Fit Negro Azul Hombres 100% De Garantía De Calidad y El Envío Libre only as of today’s date. The company
Nike Free Run OG 2014 Anti-piel azul claro Mujeres Para Baratos Pero Real Zapatos
2012 Nike Free Run 3.0 Negro Azul Mujeres Venta Aquí Con Alta Calidad disclaims any obligation to update any of the
Nike Free Run 3.0 Rose Gris Mujeres Outlet Para Que Usted Elija. Comprar Ahora. risk factors or to publicly announce any
Nike Run Balanza libre 2014 mujeres del ciruelo rojo Venta Aquí Con Alta Calidad revisions to the forward
2012 Nike Free Run 3 Gris Verde Mujeres Venta Outlet Para Mujer Para Hombre 2015 looking statements talked about during this conference call or contained in today’s press release to reflect future events or
2012 Nike Free Run Tr Fit Gris Verde Hombres A La Venta Con Precio De Descuento developments.

I will now turn the call over to
Nike Free Run 3.0 V5 Ext Fuego Rojo Blanco Mujeres Es Una Buena Opción Para Usted Mr. Cliff Sifford, President, Chief Executive
2012 Nike Free Run 3.0 Blanco Gris mujeres rojas Nueva Colección Está Disponible Officer, Chief Merchandising Officer
Nike Run Balanza gratuito 2014 Mujeres Negro Rosa Venta Hogar Es Su Mejor Opción of Shoe Carnival for opening comments.
Nike Free Run 3.0 V3 2012 mujeres rojas Para Mujer / Para Hombre De Envío Gratis Mr. Sifford, please
2012 Nike Free Run 2 Azul Negro Mujeres Outlet Store Clearance Sale Online 2014 begin.

Thank you, and welcome to Shoe Carnival’s Second Quarter Fiscal 2013 Earnings Conference Call. Joining me on the call today is Kerry
2012 Nike Free Run Tr Fit Azul Blanco Hombres A La Venta Con Precio De Descuento Jackson, Senior Executive
2012 Nike Free Run 3 Pinke plata Mujeres Running Zapatos For Cheap Pero El Real Vice President, Chief Operating and Financial Officer.

For today’s call, I’ll give you a high level review of
Nike Free Run Powerlines Ii Verde Negro Hombres Ahorre Hasta Un 70% De Descuento the company’s second quarter performance and provide some insight into the back to school season. Kerry will
2012 Nike Free Run 3 Pinke plata Mujeres Venta review the second quarter financial results, along with third
Nike Run Balanza gratuito 2014 Gris Rosa Mujeres Usted Puede Ahorrar Mucho Aquí quarter guidance, and we’ll open up the call to take your questions.

As a reminder, the
Nike Free Run Powerlines Ii Negro Oro Rojo Hombres Ahorre Tiempo y Dinero Ahora 53rd week in fiscal 2012 caused a 1 week
2013 Nike Free Run Líneas Azul Hombres Adicional 50% De Descuento En Liquidación shift in
Nike Free Run 2 2 our fiscal 2013 calendar. This resulted in the second
Nike Free Run Powerlines Ii Negro Verde Hombres Buena Calidad y El Envío Rápido quarter of fiscal 2013 ending 1 week later on August 3, versus July
2013 Nike Free Run Powerlines Negro Hombres Con Más Bajo Precio Auténtico 28 last year. We adjusted our reported quarterly and year to date comparable store sales
2012 Nike Free Run 3 Gris Verde Mujeres Zapatos Corrientes De Venta results for
Nike Free Run Powerlines Rainbow Negro Hombres A La Venta Con Precio De Descuento fiscal 2013 to reflect this calendar shift.

Now focusing on our results for the second quarter in a little more
2014 Nike Free Run Gimnasio Negro fluoresceína Hombres Para Zapatos Baratos detail. Comparable store sales increased 2.6%,
2012 Nike Free Run 3.0 V3 Gris Negro Mujeres A La Venta Con Precio De Descuento driven primarily by women’s nonathletic and children’s footwear. Traffic was down low single digits, while conversion, average transaction and average units per transaction were all up low
Nike Free Run 3.0 Rose Gris Mujeres 100% De Garantía De Calidad y El Envío Libre single digit. Merchandise margins were down 70 basis points, partly due to the first week of back to school shifting from August to July. Even though sales were just under our expectations, our
Nike Free Run 2014 Gris Mujeres rojas Precio Bajo profit margin of 28.9% was higher than the second quarter last year. Our selling, general and administrative
2012 Nike Free Run 3.0 Luz Gris Verde Naranja Mujeres Outlet Tienda Online 2014 expenses were well managed. And as a result, we were able to report second quarter
2012 Nike Free Run 3 Gris Naranja Mujeres Con El Env穩o Libre El 70% De Descuento earnings of $0.29 per share. This performance was at the high end of our guidance of $0.26 to $0.30, and exceeded our second
Nike Free Run Powerlines Ii Marrón Verde Hombres Buena Calidad y El Envío Rápido quarter earnings last year of
Nike Free Run Powerlines Rainbow Negro Hombres A La Venta Con Precio De Descuento $0.14 per share.

We ended the quarter with inventory up approximately 2% on a per store basis, which was in
Nike Free Run 3.0 V7 ​​shinne azules mujeres negras Usted Recibirá Usted Quería Aquí line with our expectations. We will continue to put pressure
2013 Nike Free Run Powerlines Negro Rojo Hombres llegada Más De 60% De Descuento on our per store inventories as we move through the remainder of the year, which supports our strategic plan to increase inventory
Nike Free Run 3 grises amarillentas Mujeres Usted Puede Encontrar Las Últimas Estilo turns.

Moving on to merchandise. As we reported in our last
Nike Free Run Powerlines Ii Gris Hombres Página Oficial Con 100% De Alta Calidad conference call, once spring arrived in late April, early May, the sales of traditional spring and
Nike Free Run 2 2 summer products escalated. We experienced double digit comparable store growth for the second quarter in categories such as molded footwear, canvas casuals and sports sandals. These categories drove comparable store sales increases in both the women’s nonathletic department, as well as the children’s department.

Drilling down by department. In our women’s nonathletic department sales for
Nike Free Run 10o Aniversary azul claro púrpura Mujeres Para Barato Pero El Real the quarter were up high single digits on a comparable store basis. We were able to produce these results
2012 Nike Free Run 3.0 Negro de plata de la Mujer Para Baratos Pero Real Zapatos even though we continue to see
Nike Free Run 4.0 Azul de cielo Mujeres Venta sales
2012 Nike Free Run 3.0 Negro de plata de la Mujer Nueva Colección Está Disponible declines
Nike Free Run 3.0 V4 Verde Gris Mujeres Venta Outlet Para Mujer Para Hombre 2015 in the dress categories. We are very happy with the double digit sales growth in our sport casual and boot sub departments. The sport casual
2012 Nike Free Run 2 Negro Púrpura Mujeres Con El Envío Libre El 70% De Descuento categories were driven primarily with molded footwear,
Nike Free Run 3.0 V2 2012 Mujeres Blanco Gris Venta Hombres sandals and canvas casuals, including a shift to canvas boat shoes from the more traditional leather versions.

In boots, we were happy with the performance of Western and the
2012 Nike Free Run Tr Fit Azul Hombres Amarillo Ahorra Hasta Un 50% De Descuento sport bootie classifications. In our men’s nonathletic department, we ended the quarter with low single digit decrease on a comparable store basis.

After a slow start to the sandal business in this department,
Nike Free Run 3.0 V4 Verde Gris Mujeres Adicional 50% De Descuento En Liquidación we ended the quarter flat on a comparable store basis due to the strong performance of soccer slides. In addition to soccer slides, we did drive increases in the canvas casual classification, but not enough to
Nike Free Run 3.0 V2 2012 Mujeres Blanco Gris Proporciona Varios 50% De Descuento overcome the comparable store sales decline in boat shoes and the
2012 Nike Free Run 3.0 Piel café Mujeres Con Descuento Grande y El Envío Rápido men’s casual sandal categories. Our children’s business ended the quarter with a high single
2012 Nike Free Run 3 Gris Naranja Mujeres Outlet Store Clearance Sale Online 2014 digit comparable store sales
Nike Free Run OG 2014 las mujeres negras de piel Anti- Precio Barato Calidad Cozy increase. We experienced double digit growth in children’s nonathletic footwear, as sandals for both boys and girls
2012 Nike Free Run 2 Negro Rojo Blanco Mujeres A Precio Más Bajo 55% De Descuento posted a comparable store sales increase in the high 40s. In addition to sandals, we also experienced high single digit growth in our children’s athletic department, as both boys’ and girls’ colorful running shoes continued to perform well.

In adult athletics, comparable store sales were down low single digits for the quarter. The classification of product driving the losses in adult athletic for the second quarter
2012 Nike Free Run 2 Gris Rosa Mujeres Tienda Outlet On Sale were women’s running and basketball, along with men’s
2012 Nike Free Run Tr Fit Naranja Hombres Precio Más Bajo basketball and skate. The athletic
Nike Free Run 3.0 2012 Gris Rosa Mujeres Para Mujer / Para Hombre De Envío Gratis business trended up for May and June.
2012 Nike Free Run Tr Fit Negro Azul Hombres Liquidación De 2014. Obtenga 64% De Descuento However, we began to see a general slowdown in
Nike Free Run Powerlines Ii Men Negro Verde Se Han Convertido En Foco En El Mundo sales as we approach the comparable dates to the Olympic time period last year.

Turning
Nike Free Run 3.0 V4 gris púrpura Mujeres Sólo Compras En Nuestra Tienda De Ahora now to store
Nike Free Run Powerlines Ii Negro Oro Hombres Venta En Línea Con El Precio Barato expansion. We ended the quarter of second quarter of 2013 with 370 stores operating in 32
2012 Nike Free Run 2 Blue Orange Mujeres Tienda Está Especializada En La Venta De Todo Tipo De Zapatos states
2012 Nike Free Run 2 Blue Orange Mujeres Usted Puede Encontrar Las Últimas Estilo and Puerto Rico. The 8 new stores we opened in the second quarter were primarily in existing markets, as we continue with our strategy of opening new large
2012 Nike Free Run 2 Negro Rojo Blanco Mujeres A Precio Más Bajo 55% De Descuento markets on
Nike Free Run 3.0 Rose Gris Mujeres Siempre Se Puede Encontrar Fuera Su Favorita a biannual basis. In addition to our new stores, we relocated 1 store, expanded 1 and closed 2.
Nike Free Run Powerlines Ii Naranja Hombres Para Hombres Baratos Running Zapatos The effort of our entire Shoe Carnival team, from our corporate headquarters to the store level, continues to be tremendous as we execute on our robust unit growth strategy. For
2014 Nike Free Run Gimnasio Blanco Negro Hombres Cómodo y Envío Appropriate.Free the remainder of 2013, we will continue our accelerated
2012 Nike Free Run 3 Gris Naranja Mujeres Outlet Store Clearance Sale Online 2014 store growth
Nike Free Run Powerlines Ii Marrón Verde Hombres Tenemos El Precio Bajo En Línea with the opening of 11 new stores and relocation of
Nike Free Run Powerlines Ii Men Negro Verde Venta Hombres 5 stores. We plan to close an additional 3 stores at the end of the
Nike Free Run 4.0 Mujeres Negro Rosa Anti-pieles Venta Hogar Es Su Mejor Opción year.

For the year, we expect to open
2014 Nike Free Run Gimnasio Blanco Azul Hombres Para Baratos Zapatos Auténticos a total of
Nike Free Run Powerlines Ii Gris Hombres Precio Más Bajo 32 new stores, including an additional
Nike Free Run 3.0 V7 ​​púrpura Negro Mujeres Para Hombres Baratos Running Zapatos 3
Nike Free Run 3.0 V2 2012 Mujeres Blanco Gris Para Baratos Pero Real Para Hombre stores in Puerto Rico.
Nike Free Run Powerlines Ii Negro Rojo Hombres A Precio Más Bajo 55% De Descuento At this time, we plan to close a total of 5 stores
2012 Nike Free Run 2 Mujeres Gris Rosa Convertido En Una Parte Esencial De Moda this year. However, the number of stores we actually close will depend upon further negotiations with our landlords. Therefore, we expect to end fiscal 2013 with approximately 378 stores. As we look forward to 2014, we’ll
2013 Nike Free Run Powerlines 2012 Gris Azul Hombres Con Más Bajo Precio Auténtico continue to aggressively grow our store base.

We are in the process of finalizing the entry into several new markets for 2014, and we
Nike Free Run Powerlines arco iris púrpura Hombres Para Baratos Pero Real Zapatos expect to see growth
Nike Free Run 3.0 V7 ​​shinne azules mujeres negras Bueno Guality Y Media Precio approaching 40 new stores. We believe our strong unleveraged financial position leaves us well positioned for additional square footage growth averaging in the high single
Nike Free Run 2014 gris rosa claro de la Mujer Con Precio Barato digits over the next decade. Now for some insight into
Nike Free Run 4.0 Mujeres Luz Azul Negro Precio Más Bajo our back
Nike Free Run 3.0 V2 Gris Negro Mujeres Adicional 50% De Descuento En Liquidación to school results.

As of today, a little over 90% of our markets
2014 Nike Free Run Gimnasio Negro fluoresce穩na Hombres Precio Barato Calidad Cozy have
Nike Free Run 4.0 Mujeres Negro Rosa Anti-pieles Envío Libre Con Entrega Rápida gone back to
Nike Free Run 3.0 V7 ​​Luz Gris mujeres rojas Venta Online school. Also, as of today, we are
2012 Nike Free Run 2 Negro Rojo Blanco Mujeres A Precio Más Bajo 55% De Descuento experiencing a comparable store sales increase of approximately
2012 Nike Free Run 3.0 Azul Plata Mujeres Running Zapatos For Cheap Pero El Real 1% for
Nike Free Run Trainer 3.0 Negro Hombres Outlet Store Clearance Sale Online 2014 the month of August. This increase in sales comes on top of the high single digit comp we generated last August. We believe there has been a shift in
Nike Free Run 10o Aniversary azul claro púrpura Mujeres Venta Zapatos Auténticos product demand in our women’s business
Nike Free Run Powerlines Ii Negro Verde Hombres Con Alta Calidad y Bajo Precio into canvas casuals, from brands such as Skechers, Keds, Vans, BOBS, Sperry and Roxy. This classification is performing very
2012 Nike Free Run Tr Fit Azul Blanco Hombres 2015 Nueva Llegada Del Envío Libre well but
2012 Nike Free Run Tr Fit Negro Azul Hombres Proporciona Varios 50% De Descuento at lower price points than the
2014 Nike Free Run Gimnasio Negro Verde Hombres Nueva Colección Está Disponible more traditional women’s nautical and athletic styles that would normally drive sales during the
Nike Free Run 2 Gris Rosa Mujeres El Precio Bajo back to school season.

In addition to canvas, we are pleased with the double digit sales increases we are generating
2014 Nike Free Run Gimnasio Blanco Negro Hombres Envío Gratis Para Todo El Mundo in junior boots, as booties and lace up boots are both performing well. This shift in demand, as well as the decline in traffic, account for the comparable store sales increase of 1%. Other
Nike Free Run 2 2012 Gris Amarillo Mujeres Con Descuento Grande y El Envío Rápido than traffic, key metrics such as conversion, units per transaction and average transaction are all positive for the
Nike Run Balanza gratuito 2014 Mujeres Verde Naranja Venta Aquí Con Alta Calidad month, which is an indication that our customers are reacting positive to our assortment for the family.

Lastly, as I mentioned on our last call, we have identified about 20% of our stores where we will begin to test select better brands in our women’s nonathletic department. These brands will offer great trend right product at price points we believe will be compelling to the mom already shopping our stores. The test will
2014 Nike Free Run Gimnasio Blanco Azul Hombres Envío Gratis Para Todo El Mundo begin in earnest by mid September, when new displays will
2012 Nike Free Run 2 Rose verde Mujeres Encuentra Grandes Ofertas y Descuentos En Los Estilos Populares y Productos Online create a strong visual element as you enter to store. The strategy behind this test is to add 4
2012 Nike Free Run 3.0 V2 Blanco Gris Azul Mujeres Usted Puede Ahorrar Mucho Aquí new
Wmns Nike Free Run 3.0 V5 2014 Azul Mujeres Sale Con La Variedad De Estilos y Colores brands. The 4 new brands are Anne Klein Sport, Calvin Klein Jeans, Report
Nike Free Run Powerlines Ii Azul Verde Hombres Para Baratos Pero Real Para Hombre Footwear and Steve Madden. In addition to these 4 new brands, we have added Merrell to 56 doors,
2012 Nike Free Run Tr Fit Azul Blanco Hombres Proporciona Varios 50% De Descuento which we will expand to 100 doors for holiday. And as importantly, we are expanding
Nike Run Balanza gratuito 2014 Gris Rosa Mujeres Para Baratos Zapatos Auténticos the selection of 6
2014 Nike Free Run Gimnasio Blanco Azul Hombres Ahorre Hasta Un 70% De Descuento brands currently offered in store that our customers have demonstrated their loyalty to. These brands include Bare
2012 Nike Free Run 2 Blue Orange Mujeres Usted Puede Encontrar Las Últimas Estilo Traps, Clarks,
Nike Free Run 2014 Negro Rosa Mujeres Con El Envío Gratis Para Todos Los Pedidos Earth Origins, Roxy,
Nike Free Run Trainer 3.0 Negro Hombres Amarillo Envío Gratis Para Todo El Mundo Madden Girl and Bandolino.

To fund this test, we have reduced our selection of tertiary brands that were driving lower retails, limiting our gross profit potential. This long term strategy is a key element to growing
Nike Free Run Powerlines Ii Marrón Verde Hombres A Precio Más Bajo 55% De Descuento our women’s nonathletic sales to 30% of our overall
2013 Nike Free Run Powerlines Ejército reverdecido Hombres Tienda Outlet On Sale sales from 26% at the end of 2012.

We plan to accomplish this through a combination of unit growth and
Nike Run Balanza gratuito 2014 Mujeres Gris Naranja Bueno Guality Y Media Precio higher AURs. I think you will agree that these 11 brands offer our customer affordable fashion and is a great step in reaching our goal
Nike Free Run 3.0 V2 verde plata Mujeres Sólo Compras En Nuestra Tienda De Ahora of becoming her store of choice
Nike Free Run 4.0 2012 Rojo Plata Mujeres Outlet Store Clearance Sale Online 2014 for the entire family.

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