-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 P6QxjmfwMdJ7n2I8+QUI4mbvPmrt586Q7FAyXJ69QNwZNKE+eH/FoTN2cOUpT4h+
 Zj4NDOWNI3eV4UPriNcbYg==

<SEC-DOCUMENT>0001206774-10-002401.txt : 20101118
<SEC-HEADER>0001206774-10-002401.hdr.sgml : 20101118
<ACCEPTANCE-DATETIME>20101118160529
ACCESSION NUMBER:		0001206774-10-002401
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20101118
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20101118
DATE AS OF CHANGE:		20101118

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:		101202884

	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>
    <!-- Licensed to: DG3 I Docs, Inc. -->
    <!-- Document Created using EDGARizerAgent 5.2.3.0 -->
    <!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>

<body bgcolor="#ffffff">
<br>
<hr style="MARGIN-TOP: -2px; COLOR: black" size="4">
<hr style="MARGIN-TOP: -10px; COLOR: black" size="1">
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">UNITED STATES<br>
</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">SECURITIES AND EXCHANGE COMMISSION<br>
</font></font></font><font style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">Washington, D.C. 20549</font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">FORM 8-K <br>
<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="3" style="FONT-FAMILY: Times New Roman">CURRENT REPORT</font></font></font></font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">PURSUANT TO SECTION 13 OR 15(d) OF THE <br>
SECURITIES EXCHANGE ACT OF 1934</font></font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">Date of Report (Date of earliest event reported)&#160;&#160; </font></td>
<td nowrap width="98%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">November 18, 2010</font></font></td>
</tr></table>
</div>

<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td width="100%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SHOE CARNIVAL, INC.</font></font></td>
</tr><tr valign="bottom">
<td nowrap width="100%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Exact name of registrant as specified in its charter)</font></td>
</tr></table>
</div>

<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td nowrap width="32%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Indiana</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap width="35%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">0-21360</font></font></td>
<td nowrap width="1%" 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: times new roman"><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: times new roman">(State or other jurisdiction</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="35%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Commission File</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="31%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(IRS Employer</font></td>
</tr><tr valign="bottom">
<td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">of incorporation)</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="35%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Number)</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="31%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Identification No.)</font></td>
</tr></table>
</div>

<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="68%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">7500 East Columbia Street, Evansville, IN</font></font></td>
<td nowrap width="1%" 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: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">47715</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="68%"><font size="2" style="FONT-FAMILY: times new roman">(Address of principal executive offices)</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="31%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">(Zip Code)</font></td>
</tr></table>
</div>

<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">Registrant's telephone number, including area code&#160;&#160; </font></td>
<td nowrap width="98%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">(812) </font></font><font size="2" style="FONT-FAMILY: times new roman"><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="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td width="100%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman"><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: times new roman">(Former name or former address if changed since last report)</font></td>
</tr></table>
</div>

<br>
<div align="justify"><font style="FONT-FAMILY: Times New Roman"><font size="2" style="FONT-FAMILY: Times New Roman">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 style="DISPLAY: inline; FONT-STYLE: italic">see</font> General Instruction A.2. below):</font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">[&#160;&#160;&#160; ]</font></td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="98%"><font size="2" style="FONT-FAMILY: times new roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">[&#160;&#160;&#160; ]</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="98%"><font size="2" style="FONT-FAMILY: times new roman">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 width="1%"><font size="2" style="FONT-FAMILY: times new roman">[&#160;&#160;&#160; ]</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="98%"><font size="2" style="FONT-FAMILY: times new roman">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 width="1%"><font size="2" style="FONT-FAMILY: times new roman">[&#160;&#160;&#160; ]</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="98%"><font size="2" style="FONT-FAMILY: times new roman">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="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Section 2--Financial Information </font></font></div>

<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Item 2.02 Results of Operations and Financial Condition. </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>On November 18, 2010, Shoe Carnival, Inc. (the "Company") issued a press release announcing its operating and financial results for its third quarter ended October 30, 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 size="2" style="FONT-FAMILY: Times New Roman">Section 9--Financial Statements and Exhibits </font></font></div>

<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Item 9.01 Financial Statements and Exhibits. </font></font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">(d)</font></td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">Exhibits:</font></td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="96%">&#160;</td>
</tr><tr>
<td colspan="5" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Exhibit No.</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="96%"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: times new roman">Exhibits</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">99.1</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="96%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Earnings Release &#8211; Third Quarter Ended October 30, 2010.</font></td>
</tr></table>
</div>

<br>
<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">2</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SIGNATURES </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">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></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="9%">&#160;</td>
<td align="left" nowrap width="41%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td nowrap width="48%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">SHOE CARNIVAL, INC.</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="9%">&#160;</td>
<td align="left" nowrap width="41%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td nowrap width="48%" style="TEXT-ALIGN: left"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (Registrant)</font></td>
</tr><tr>
<td colspan="5" width="100%">&#160;</td>
</tr><tr>
<td colspan="5" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" colspan="2" nowrap width="50%"><font size="2" style="FONT-FAMILY: times new roman">Dated: </font><font size="2" style="FONT-FAMILY: times new roman">November 18, 2010</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">By:</font></td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="48%" style="BORDER-BOTTOM: #000000 1pt solid"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">/s/ W. Kerry Jackson</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="9%">&#160;</td>
<td align="left" nowrap width="41%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: times new roman">W. Kerry Jackson</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="9%">&#160;</td>
<td align="left" nowrap width="41%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: times new roman">Executive Vice President and</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="9%">&#160;</td>
<td align="left" nowrap width="41%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: times new roman">Chief Financial Officer</font></td>
</tr></table>
</div>

<br>
<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">3</font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EARNINGS RELEASE - THIRD QUARTER ENDED OCTOBER 30, 2010
<TEXT>
<html>
<head>
    <title>exhibit99-1.htm</title>
    <!-- Licensed to: DG3 I Docs, Inc. -->
    <!-- Document Created using EDGARizerAgent 5.2.3.0 -->
    <!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>

<body bgcolor="#ffffff">
<br>
<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" colspan="2" nowrap width="42%"><font size="1" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">7500 East Columbia Street</font></font></td>
<td align="right" nowrap width="57%"><font size="1" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Contact Mark L. Lemond</font></font></td>
</tr><tr valign="bottom">
<td align="left" colspan="2" nowrap width="42%"><font size="1" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Evansville, IN 47715</font></font></td>
<td align="right" nowrap width="57%"><font size="1" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">President and Chief Executive Officer</font></font></td>
</tr><tr valign="bottom">
<td align="left" colspan="2" nowrap width="42%"><font size="1" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">www.shoecarnival.com</font></font></td>
<td align="right" nowrap width="57%"><font size="1" style="FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">or W. Kerry Jackson</font></font></td>
</tr><tr valign="bottom">
<td align="left" colspan="2" nowrap width="42%"><font size="1" style="FONT-FAMILY: times new roman"><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="57%"><font size="1" style="FONT-FAMILY: times new roman"><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="3%">&#160;</td>
<td align="left" nowrap width="39%">&#160;</td>
<td align="right" nowrap width="57%"><font size="1" style="FONT-FAMILY: times new roman"><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: Times New Roman">FOR IMMEDIATE RELEASE </font></font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SHOE CARNIVAL REPORTS RECORD THIRD QUARTER 2010 RESULTS </font></font></div>

<div>&#160;</div>

<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: Times New Roman">Reports Net Sales of $204.4 Million and Diluted Earnings Per Share of $0.70</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman"> </font></font></div>

<div>&#160;</div>

<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
<td width="100%" style="BORDER-TOP: #000000 1.5pt solid">&#160;&#160;&#160;&#160; </td>
</tr></table>
</div>

<div><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Evansville, Indiana, November 18, 2010 - Shoe Carnival, Inc. (Nasdaq: SCVL) a leading retailer of value-priced footwear and accessories, today announced net sales and earnings for the third quarter ended October 30, 2010.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Net sales for the third quarter of 2010 increased 6.7 percent to $204.4 million from $191.5 million for the third quarter of 2009. Comparable store sales for the thirteen-week period ended October 30, 2010 increased 7.2 percent. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Net earnings for the third quarter increased 21 percent to $9.1 million compared to $7.5 million for the third quarter of 2009. Diluted earnings per share for the quarter increased 19 percent to $0.70 compared to $0.59 in the prior year third quarter.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The gross profit margin for the third quarter increased 0.3 percent to 30.1 percent compared to 29.8 percent for the third quarter of the prior year. The merchandise margin decreased 0.2 percent. The Company&#8217;s buying, distribution and occupancy costs decreased 0.5 percent, as a percentage of sales, due to the leverage associated with comparable store sales increases.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Selling, general and administrative expenses for the third quarter increased $2.2 million to $47.1 million; however, as a percentage of sales, these expenses decreased to 23.0 percent compared to 23.4 percent in the third quarter of 2009. </font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Speaking on the results, Mark Lemond, president and chief executive officer said,</font><font size="2" style="FONT-FAMILY: Times New Roman"> </font><font size="2" style="FONT-FAMILY: Times New Roman">"Fiscal 2010 is proving to be a remarkable year for Shoe Carnival. We reported significant sales and earnings gains in the first two quarters and we were able to continue to capitalize on this positive momentum to achieve record third quarter earnings. The Shoe Carnival team worked together to improve our key financial metrics and produced results above our expectations, even though we were up against a record 10.2% comparable store sales increase in the third quarter of the prior year."</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Net sales during the first nine months of 2010 increased $47.7 million to $559.3 million as compared to the same period last year. This sales increase was driven primarily by a comparable store sales increase of 9.4 percent. Net earnings for the first nine months of 2010 were $22.5 million, or $1.73 per diluted share, compared with net earnings of $12.6 million, or $1.00 per <font size="2" style="FONT-FAMILY: Times New Roman">diluted share, in the first nine months of last year. The gross profit margin for the first nine months of 2010 was 29.9 percent compared to 28.3 percent last year. Selling, general and administrative expenses, as a percentage of sales, were 23.6 percent for the first nine months of 2010 as compared to 24.3 percent in the first nine months of 2009. </font></font></div>

<div><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>Mr. Lemond concluded, "We remain positive in regards to the opportunities for the fourth quarter, particularly with respect to our fashion boots. As a result, we are increasing our fiscal 2010 sales and earnings guidance. Our management team continues to focus on managing the controllable aspects of our business and we are confident in our ability to deliver sustainable increases in profitability and cash flow."</font></div>

<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Fourth Quarter and Fiscal 2010 Earnings Outlook </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Company expects fourth quarter net sales to be in the range of $178 to $182 million and comparable store sales to increase in the range of 4 to 6 percent. Earnings per diluted share in the fourth quarter of 2010 are expected to be in the range of $0.30 to $0.32. Earnings per diluted share in the fourth quarter of fiscal 2009 were $0.20.</font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>For fiscal 2010, the Company expects net sales to be in the range of $737 to $741 million and comparable store sales to increase in the range of 8.1 to 8.6 percent. Earnings per diluted share for fiscal 2010 are expected to be in the range of $2.03 to $2.05 compared to previous expectations for earnings per diluted share in the range of $1.89 to $1.95. Earnings per diluted share for fiscal 2009 were $1.20. </font></div>

<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Store Growth </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160; </font>The Company opened ten new stores and expects to close seven stores in fiscal 2010. Four new stores were opened during the third quarter of fiscal 2010 and one store was closed. </font></div>

<div>&#160;</div>

<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="60%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="88%">&#160;</td>
<td nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">New Stores</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">Stores Closings</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st </font>Quarter 2010</font></td>
<td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">3</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="7%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">3</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%"><font size="2" style="FONT-FAMILY: times new roman">2<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">nd </font>Quarter 2010</font></td>
<td nowrap width="4%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">3</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="7%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">rd </font>Quarter 2010</font></td>
<td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">4</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="7%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">1</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%"><font size="2" style="FONT-FAMILY: times new roman">4<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th </font>Quarter 2010</font></td>
<td nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">0</font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">2</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="88%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Fiscal 2010</font></td>
<td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">10</font></td>
<td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">&#160;</td>
<td nowrap width="7%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">7</font></td>
</tr></table>
</div>

<br>
<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>The four stores opened during the third quarter included locations in: </font></div>

<div>&#160;</div>

<div align="center">
<table border="0" cellpadding="0" cellspacing="0" width="60%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="49%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">City</font></td>
<td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160; </td>
<td align="left" nowrap width="50%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">Market/Total Stores in Market</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Fargo, ND</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="50%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Fargo, ND/1</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Gainesville, GA</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="50%"><font size="2" style="FONT-FAMILY: times new roman">Atlanta, GA/9</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Lancaster, PA</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="50%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Lancaster, PA/1</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: times new roman">Riverton, UT</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="50%"><font size="2" style="FONT-FAMILY: times new roman">Salt Lake City, UT/6</font></td>
</tr></table>
</div>

<br>
<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Conference Call </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Today, at 4:30 p.m. Eastern time, the Company will host a conference call to discuss the third quarter results. The public can listen to the live webcast of the call by visiting Shoe Carnival's Investor Relations page at www.shoecarnival.com. While the question-and-answer session will be available to all listeners, questions from the audience will be limited to institutional analysts and investors. A replay of the webcast will be available on our website beginning approximately two hours after the conclusion of the conference call and will be archived for one year. </font></div>

<div>&#160;</div>

<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">About Shoe Carnival </font></font></div>

<div>&#160;</div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>Shoe Carnival is a chain of 316 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>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">Cautionary Statement Regarding Forward-Looking Information </font></font></font></div>

<div><font size="2" style="FONT-FAMILY: Times New Roman">&#160;</font></div>

<div align="justify"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="2" style="FONT-FAMILY: Times New Roman"><font size="3" style="FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font>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 </font>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 align="justify"><font size="2" style="FONT-FAMILY: Times New Roman">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 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 for
ward-looking statements contained in this press release to reflect future events or developments. </font></div>

<div>&#160;</div>

<div align="center"><font size="2" style="FONT-FAMILY: Times New Roman">Financial Tables Follow </font></div>

<div>&#160;</div>

<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SHOE CARNIVAL, INC. <br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">CONDENSED CONSOLIDATED STATEMENTS OF INCOME <br>
</font></font><font size="2" style="FONT-FAMILY: Times New Roman">(In thousands, except per share) </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="65%">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Thirteen</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Thirteen</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Thirty-nine</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Thirty-nine</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Weeks Ended</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Weeks Ended</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Weeks Ended</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Weeks Ended</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 31,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="3" nowrap width="8%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 31,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%">&#160;</td>
<td colspan="3" nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2009</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160; </td>
<td colspan="3" nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2009</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net sales</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">204,443</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">191,523</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">559,294</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">511,632</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">Cost of sales (including buying,</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; distribution and occupancy costs)</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">142,933</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">134,424</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">391,765</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">366,969</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Gross profit</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">61,510</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">57,099</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">167,529</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">144,663</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">Selling, general and administrative</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="6%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; expenses</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">47,096</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">44,880</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">132,135</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">123,956</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Operating income</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">14,414</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">12,219</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">35,394</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">20,707</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">Interest income</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">(28</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">(13</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">(79</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">(17</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Interest expense</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">64</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">42</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">196</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">126</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">Income before income taxes</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">14,378</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">12,190</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">35,277</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="6%"><font size="2" style="FONT-FAMILY: times new roman">20,598</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Income tax expense</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">5,282</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">4,692</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,816</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">7,986</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">Net income</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">9,096</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">7,498</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">22,461</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,612</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
</tr><tr>
<td colspan="16" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net income per share:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Basic</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">.71</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">.60</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">1.77</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">1.01</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Diluted</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">.70</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">.59</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">1.73</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">1.00</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
</tr><tr>
<td colspan="16" width="100%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Average shares outstanding:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="6%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Basic</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,726</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,503</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,711</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,490</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="65%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Diluted</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,976</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,662</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,956</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
<td align="right" nowrap width="6%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">12,573</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid">&#160;</td>
</tr></table>
</div>

<br>
<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SHOE CARNIVAL, INC.<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">CONDENSED CONSOLIDATED BALANCE SHEETS<br>
</font></font><font size="2" style="FONT-FAMILY: Times New Roman">(In thousands) </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="85%">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">January 30,</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
<td colspan="2" nowrap width="4%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 31,</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%">&#160;</td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2010</font></font></td>
<td nowrap width="1%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td colspan="2" nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">2009</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">ASSETS</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Current Assets:</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Cash and cash equivalents</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">43,312</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">44,168</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">27,256</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accounts receivable</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,596</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">746</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">1,378</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Merchandise inventories</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">228,233</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">197,452</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">204,000</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Deferred income tax benefit</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,531</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">3,255</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">2,708</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Other</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,977</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,480</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,897</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Total Current Assets</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">280,649</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">248,101</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">238,239</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Property and equipment-net</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">62,608</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">62,162</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">65,119</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Other</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,286</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,378</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,590</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Total Assets</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">344,543</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">311,641</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">304,948</font></td>
</tr><tr>
<td align="left" nowrap width="85%">&#160; </td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">LIABILITIES AND SHAREHOLDERS' EQUITY</font></font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="3%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Current Liabilities:</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="3%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accounts payable</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">58,668</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">57,235</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">50,301</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Accrued and other liabilities</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">18,856</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">14,353</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">18,832</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Total Current Liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">77,524</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">71,588</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">69,133</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Deferred lease incentives</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">7,348</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">6,501</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">6,364</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Accrued rent</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">5,162</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">5,115</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">5,176</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Deferred income taxes</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">0</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">1,052</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="3%"><font size="2" style="FONT-FAMILY: times new roman">915</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Deferred compensation</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">4,569</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3,548</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">3,381</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Other</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,578</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">2,008</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">1,958</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Total Liabilities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">96,181</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">89,812</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">86,927</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%"><font size="2" style="FONT-FAMILY: times new roman">Total Shareholders' Equity</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">248,362</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">221,829</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">218,021</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="85%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Total Liabilities and Shareholders' Equity</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">344,543</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">311,641</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="3%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">304,948</font></td>
</tr></table>
</div>

<br>
<hr align="center" noshade size="2" width="100%">
<div id="PGBRK">
<div id="PN" style="PAGE-BREAK-BEFORE: always">&#160;</div>
</div>

<br>
<div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">SHOE CARNIVAL, INC.<br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: Times New Roman">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<br>
</font></font><font size="2" style="FONT-FAMILY: Times New Roman">(In thousands) </font></div>

<div>&#160;</div>

<div>
<table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
<td align="left" nowrap width="81%">&#160;</td>
<td colspan="3" nowrap width="9%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Thirty-nine</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="3" nowrap width="9%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Thirty-nine</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%">&#160;</td>
<td colspan="3" nowrap width="9%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Weeks Ended</font></font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td colspan="3" nowrap width="9%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">Weeks Ended</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%">&#160;</td>
<td colspan="3" nowrap width="9%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 30, 2010</font></font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td colspan="3" nowrap width="9%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: times new roman">October 31, 2009</font></font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Cash flows from operating activities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Net income</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">22,461</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">$&#160;&#160;&#160;&#160;&#160;&#160; </font></td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">12,612</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Adjustments to reconcile net income to net</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Cash provided by operating activities:</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Depreciation and amortization</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">10,252</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">11,310</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Stock-based compensation</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">3,638</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">757</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Loss on retirement of assets and impairments</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,407</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">73</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Deferred income taxes</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(1,328</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(632</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Lease incentives</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,830</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">1,717</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(770</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(630</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Changes in operating assets and liabilities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accounts receivable</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(1,850</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">329</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Merchandise inventories</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(30,781</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(14,506</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Accounts payable and accrued liabilities</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">2,777</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(4,928</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">717</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">4,436</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="white"><font size="2" style="FONT-FAMILY: times new roman">Net cash provided by operating activities</font></td>
<td align="left" nowrap width="1%" bgcolor="white" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="white" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">8,353</font></td>
<td align="left" nowrap width="1%" bgcolor="white">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="white">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="white" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="white" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">10,538</font></td>
<td align="left" nowrap width="1%" bgcolor="white">&#160;</td>
</tr><tr>
<td align="left" nowrap width="81%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Cash flows from investing activities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Purchases of property and equipment</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(10,335</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">(8,651</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Proceeds from sale of property and equipment</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">311</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">8</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Proceeds from Notes Receivable</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">100</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#ffffff" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">100</font></td>
<td align="left" nowrap width="1%" bgcolor="#ffffff">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="silver"><font size="2" style="FONT-FAMILY: times new roman">Net cash used in investing activities</font></td>
<td align="left" nowrap width="1%" bgcolor="silver" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="silver" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(9,924</font></td>
<td align="left" nowrap width="1%" bgcolor="silver"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="silver">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="silver" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="silver" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(8,543</font></td>
<td align="left" nowrap width="1%" bgcolor="silver"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
</tr><tr>
<td align="left" nowrap width="81%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Cash flows from financing activities:</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="7%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Proceeds from issuance of stock</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">560</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%"><font size="2" style="FONT-FAMILY: times new roman">251</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Excess tax benefits from stock-based compensation</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">434</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">193</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160; Purchase of treasury stock</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">(279</font></td>
<td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">0</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net cash provided by financing activities</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">715</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">444</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr>
<td align="left" nowrap width="81%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="right" nowrap width="7%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Net (decrease) increase in cash and cash equivalents</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">(856</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">)</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">2,439</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%"><font size="2" style="FONT-FAMILY: times new roman">Cash and cash equivalents at beginning of period</font></td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">44,168</font></td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%">&#160;</td>
<td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;</td>
<td align="right" nowrap width="7%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: times new roman">24,817</font></td>
<td align="left" nowrap width="1%">&#160;</td>
</tr><tr valign="bottom">
<td align="left" nowrap width="81%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: times new roman">Cash and Cash Equivalents at End of Period</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">43,312</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">$</font></td>
<td align="right" nowrap width="7%" bgcolor="#c0c0c0" style="BORDER-BOTTOM: #000000 1.5pt solid"><font size="2" style="FONT-FAMILY: times new roman">27,256</font></td>
<td align="left" nowrap width="1%" bgcolor="#c0c0c0">&#160;</td>
</tr></table>
</div>

<br>
<hr align="center" noshade size="2" width="100%">
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
