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<SEC-DOCUMENT>0001206774-10-001250.txt : 20100510
<SEC-HEADER>0001206774-10-001250.hdr.sgml : 20100510
<ACCEPTANCE-DATETIME>20100510171335
ACCESSION NUMBER:		0001206774-10-001250
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100510
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100510
DATE AS OF CHANGE:		20100510

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHOE CARNIVAL INC
		CENTRAL INDEX KEY:			0000895447
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-SHOE STORES [5661]
		IRS NUMBER:				351736614
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21360
		FILM NUMBER:		10817572

	BUSINESS ADDRESS:	
		STREET 1:		7500 EAST COLUMBIA STREET
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47715
		BUSINESS PHONE:		8128676471

	MAIL ADDRESS:	
		STREET 1:		7500 EAST COLUMBIA STREET
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47715
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>shoecarnival_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<html>
<head>
    <title>shoecarnival_8k.htm</title>
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<body bgcolor="#ffffff">
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    <hr style="MARGIN-TOP: -10px; COLOR: black" size="1"><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">UNITED STATES<br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SECURITIES AND EXCHANGE COMMISSION<br></font></font><font size="2" style="FONT-FAMILY: serif">Washington, D.C. 20549</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: serif">FORM 8-K</font></font> <br><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">CURRENT REPORT</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">PURSUANT TO SECTION 13 OR 15(d) OF THE
<br>SECURITIES EXCHANGE ACT OF 1934</font></font></div>
    <div>&#160;</div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="20%"><font size="2" style="FONT-FAMILY: serif">Date of Report (Date of earliest event reported)</font></td>
            <td align="left" nowrap width="5%"><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160; </font></td>
            <td nowrap width="27%" style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: serif">&#160;</font></td>
            <td nowrap width="48%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">May 10,
    2010&#160;</font></font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td width="100%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">SHOE
      CARNIVAL, INC.</font></font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="100%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">(Exact
      name of registrant as specified in its
charter)</font></font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td nowrap width="32%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Indiana</font></font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;
    </td>
            <td nowrap width="30%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">0-21360</font></font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="33%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">35-1736614</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(State or other
    jurisdiction&#160;</font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="30%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(Commission File&#160;</font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="33%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(IRS Employer&#160;</font></td>
          </tr><tr valign="bottom">
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">of incorporation)&#160;</font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="30%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Number)&#160;</font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="33%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Identification
  No.)&#160;</font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td nowrap width="67%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">7500 East Columbia Street,
      Evansville, IN</font></font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
            <td nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">47715</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="67%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(Address of principal executive
      offices)&#160;</font></td>
            <td nowrap width="2%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="31%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(Zip
Code)&#160;</font></td>
          </tr></table>
    </div><br>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="20%" style="PADDING-BOTTOM: 1pt"><font size="2" style="FONT-FAMILY: serif">Registrant's telephone number, including
      area code</font></td>
            <td align="left" nowrap width="5%" style="PADDING-BOTTOM: 1pt"><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160; </font></td>
            <td nowrap width="27%" style="PADDING-BOTTOM: 1pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="48%" style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">(812) </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">867-6471</font></font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td width="100%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Not
  Applicable</font></font></td>
          </tr><tr valign="bottom">
            <td nowrap width="100%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(Former name or former address if
      changed since last report)&#160;</font></td>
          </tr></table>
    </div><br>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions
(</font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">see</font></font> <font size="2" style="FONT-FAMILY: serif">General Instruction A.2. below):</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">[&#160;&#160;&#160; ]</font></td>
            <td align="left" nowrap valign="top" width="1%"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Written communications pursuant to Rule
      425 under the Securities Act (17 CFR 230.425)</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">[&#160;&#160;&#160; ]</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Soliciting material pursuant to Rule
      14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">[&#160;&#160;&#160; ]</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: serif">[&#160;&#160;&#160; ]</font></td>
            <td align="left" nowrap valign="top" width="1%">
            </td>
            <td align="left" nowrap valign="top" width="98%"><font size="2" style="FONT-FAMILY: serif">Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</font></td>
          </tr></table>
    </div><br>
    <hr style="MARGIN-TOP: -2px; COLOR: black" size="1">
    <hr style="MARGIN-TOP: -10px; COLOR: black" size="4">
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_2"><!--EFPlaceholder-->
</a>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Section
7--Regulation FD</font></font></font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Item 7.01
Regulation FD Disclosure</font></font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160; On May 10, 2010, Shoe Carnival, Inc.
issued a press release announcing sales results and revised earnings guidance
for its first fiscal quarter ended May 1, 2010. A copy of the press release is
attached hereto as Exhibit 99.1 and is incorporated herein by
reference.</font></div>
    <div>&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Section
9--Financial Statements and Exhibits</font></font></font></div>
    <div align="justify">&#160;</div>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Item 9.01
Financial Statements and Exhibits.</font></font></font></div>
    <div align="justify">&#160;</div>
    <div align="justify"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">(c) Exhibits:</font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td nowrap width="2%" style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="DISPLAY: inline"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Exhibit
      No.</font></font></font><font style="DISPLAY: inline"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">&#160;</font></font></font></td>
            <td align="left" nowrap width="3%">&#160;&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="95%" style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"><font style="DISPLAY: inline"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Exhibits</font></font></font></td>
          </tr><tr valign="bottom" bgcolor="silver">
            <td align="left" nowrap width="2%"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">99.1&#160;</font></font></td>
            <td align="left" nowrap width="3%">
            </td>
            <td align="left" nowrap width="95%"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Press Release &#8211; May 10,
      2010.&#160;</font></font></td>
          </tr></table>
    </div><br>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">2</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br><a name="page_3"><!--EFPlaceholder-->
</a>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2">SIGNATURES</font></font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2"><font style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160; Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="2%"><font size="2">&#160;</font></td>
            <td nowrap width="48%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2">SHOE CARNIVAL,
      INC.&#160;</font></font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="2%"><font size="2">&#160;</font></td>
            <td nowrap width="48%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: serif"><font size="2">(Registrant)&#160;</font></font></td>
          </tr><tr>
            <td colspan="4" width="100%"><font size="2">&#160;</font></td>
          </tr><tr>
            <td colspan="4" width="100%"><font size="2">&#160;</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font style="FONT-FAMILY: serif"><font size="2">Dated:&#160;May 10, 2010</font></font></td>
            <td align="left" nowrap width="1%"><font size="2">By:&#160;</font></td>
            <td align="left" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
            <td align="left" nowrap width="48%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2">/s/ W. Kerry
      Jackson&#160;</font></font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="2%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="48%"><font style="FONT-FAMILY: serif"><font size="2">W. Kerry Jackson&#160;</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="2%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="48%"><font style="FONT-FAMILY: serif"><font size="2">Executive Vice President and&#160;</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="2%"><font size="2">&#160;</font></td>
            <td align="left" nowrap width="48%"><font style="FONT-FAMILY: serif"><font size="2">Chief Financial
Officer&#160;</font></font></td>
          </tr></table>
    </div><br>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">3</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE - MAY 10, 2010.
<TEXT>
<html>
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    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="40%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">7500 East Columbia
      Street</font></font></td>
            <td align="right" nowrap width="59%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Contact Mark L.
      Lemond</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="40%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Evansville, IN
      47715</font></font></td>
            <td align="right" nowrap width="59%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">President and
      Chief Executive Officer</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="40%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">www.shoecarnival.com</font></font></td>
            <td align="right" nowrap width="59%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">or W. Kerry
      Jackson</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="40%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">(812)</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">867-6471</font></font></td>
            <td align="right" nowrap width="59%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Executive Vice
      President, Chief Financial Officer</font></font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="40%"><font size="1" style="FONT-FAMILY: serif">&#160;</font></td>
            <td align="right" nowrap width="59%"><font size="1" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">and
      Treasurer</font></font></td>
          </tr></table>
    </div><br>
    <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">FOR IMMEDIATE RELEASE</font></font></font> </div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">SHOE CARNIVAL
REPORTS FIRST QUARTER 2010 SALES RESULTS<br>AND UPDATES FIRST QUARTER EARNINGS
EXPECTATIONS</font></font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Reports
Highest Quarterly Comparable Store Sales Increase in the<br>Company&#8217;s History of
13.1%</font></font></font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Increases
First Quarter Earnings Per Diluted Share Expectations to a<br>Range of $0.70 to
$0.72</font></font></font></font></div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
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              <div align="justify"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Evansville, Indiana, May 10, 2010 - Shoe
      Carnival, Inc. (Nasdaq: SCVL) a leading retailer of value-priced footwear
      and accessories, today announced first quarter 2010 net sales, comparable
      store sales, and updated earnings per diluted share expectations for the
      first quarter ended on May 1, 2010. Due to the timing of the Company's
      upcoming participation at the Sterne Agee&#8217;s Best Ideas Conference in
      Chicago, IL on May 11, 2010 the Company is providing this business update.
      The Company does not plan to provide preliminary financial information in
      the future other than in unique circumstances, or in the event of a
      material event that requires disclosure.</font></font></div>
              <div>&#160;</div>
              <div align="justify"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Net sales for the first quarter of 2010
      increased 13.2 percent to $189.5 million from net sales of $167.3 million
      for the first quarter of 2009. Comparable store sales for the
      thirteen-week period ended May 1, 2010 increased 13.1 percent. Both net
      sales and comparable store sales for the first quarter of 2010 were above
      the Company&#8217;s prior guidance for net sales in the range of $181 to $183
      million and a comparable store sales increase of 8 to 9
      percent.</font></font></div>
              <div>&#160;</div>
              <div align="justify"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">As a result, the Company now expects
      earnings per diluted share in the range of $0.70 to $0.72 for the first
      quarter of 2010. The Company&#8217;s prior guidance was for first quarter
      earnings per diluted share in the range of $0.54 to
      $0.58.</font></font></div>
              <div>&#160;</div>
              <div align="justify"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">&#8220;We are pleased to report we exceeded
      our internal goals and expectations for the first quarter by continuing to
      capitalize on key fashion trends, particularly in the athletic and toning
      categories. Our lean inventory position enabled us to increase our
      merchandise assortment in these key categories to meet the consumers
      demand and enabled us to achieve our highest quarterly comparable store
      sales increase in the Company&#8217;s history,&#8221; said Mark Lemond, Shoe
      Carnival&#8217;s President and Chief Executive Officer. &#8220;As a result, we were
      able to maximize our profitability and increase our earnings per diluted
      share expectations for the first quarter of 2010. We remain extremely well
      positioned as customers continue to respond positively to our business
      model of providing the right product assortment of name brand footwear for
      the entire family at a compelling value.<font size="2">&#8221;</font></font></font></div>
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    <div><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">The Company plans to report first quarter 2010 financial results on June
2, 2010.</font></font></div>
    <div align="justify"><font style="FONT-FAMILY: serif">&#160;</font></div>
    <div align="justify">
      <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2">About Shoe Carnival</font></font></div>
      <div>&#160;</div>
      <div align="justify"><font size="2">Shoe Carnival is a chain of 311 footwear stores
located in the Midwest, South and Southeast. Combining value pricing with an
entertaining store format, Shoe Carnival is a leading retailer of name brand and
private label footwear for the entire family. 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.</font></div>
      <div align="justify"><font size="2">&#160;</font></div>
      <div align="justify">
        <div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2">Cautionary
Statement Regarding Forward-Looking Information</font></font></div><div>&#160;</div>
        <div align="justify"><font size="2">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 United States in which our
stores are located; the effects and duration of the current economic downturn
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; 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; 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 hurricanes or other natural disasters on our
stores, as well as on consumer confidence and purchasing in general; risks
associated with the seasonality of the retail industry; our ability to
successfully execute our growth strategy, including the availability of
desirable store locations at acceptable lease terms, our ability to open new
stores in a timely and profitable manner and the availability of sufficient
funds to implement our growth 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 the People&#8217;s Republic of China, Brazil, Spain and East Asia,
where the primary manufacturers of footwear are located; the impact of
regulatory changes in the United States and the countries where our
manufacturers are located; and the continued favorable trade relations between
the United States and China and the other countries which are the major
manufacturers of footwear.</font></div><div>&#160;</div>
      </div>
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    <div align="justify"><font style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">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 <font size="2">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.</font></font></font></div>
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