Shoe Carnival Inc (SCVL)

Shoe Carnival Reports First Quarter 2026 ResultsMay 21, 2026 6:10 AM
Business Wire Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading omnichannel retailer of footwear and accessories for the family, today reported results for the first quarter ended May 2, 2026. First Quarter 2026 Highlights Net sales of $270.7 million, compared to $277.7 million in the first quarter of 2025. Shoe Carnival banner net sales declined 2.2 percent, a meaningful improvement compared to the trends experienced through Fiscal 2025; Shoe Station banner net sales declined 3.1 percent. Gross profit margin of 33.3 percent, compared to 34.5 percent in the first quarter of 2025. GAAP diluted loss per share (“EPS”) of $(0.21); adjusted diluted earnings per share (“Adjusted EPS”)(1) of $0.23, consistent with consensus analyst expectations (non-GAAP), which excludes charges associated with the previously announced Chief Executive Officer transition (“CEO Transition”) and the completion of a strategic review of the Company’s rebanner program. Pretax charges of $13.6 million ($11.9 million after-tax, or $0.43 per diluted share) recorded during the quarter, comprised of $5.3 million related to the CEO Transition and $8.3 million related to the strategic review, including impairment of store locations and write-offs of rebanner-related and corporate fixed assets. Cash, cash equivalents, and marketable securities of $129.3 million at quarter-end, an increase of $36.4 million compared to the prior-year period; the Company ended the first quarter of 2026 debt-free. Repurchased 390,492 shares of common stock during the first quarter of 2026 for approximately $7.0 million. (1) A description of non-GAAP Adjusted EPS and a reconciliation of non-GAAP Adjusted EPS to the corresponding GAAP measure is provided at the end of this press release. “Since returning to the Chief Executive Officer role in late February, I have worked with our Board and management team to complete a comprehensive review of the Company’s strategic direction and capital deployment,” said Cliff Sifford, Interim President and Chief Executive Officer. “Our review confirmed that the Shoe Carnival and Shoe Station banners each serve distinct consumer segments, and that the Company is best positioned to operate both banners as permanent, independent components of our portfolio. While there is more work to do, I am pleased that our first quarter results came in within the range of consensus analyst expectations on the key financial metrics, with sales modestly ahead of consensus and Adjusted EPS matching consensus. The Shoe Carnival banner narrowed its year-over-year sales decline meaningfully compared to Fiscal 2025 trends. In addition, we continue to feel confident about growth opportunities for the Shoe Station banner - both through new store growth in markets that serve the target consumer segment and rebannering of select Shoe Carnival locations that meet the criteria for conversion to Shoe Station.” “Our underlying business delivered Adjusted EPS in line with consensus expectations during a quarter of significant strategic transition. We ended the quarter with $129 million in cash and marketable securities and no debt, and we returned $7 million to shareholders through share repurchases. We are reaffirming our previously communicated Fiscal 2026 guidance, with the back-to-school and fall selling periods representing the bulk of our expected annual earnings opportunity. We intend to manage Fiscal 2026 with disciplined capital deployment, continued progress on inventory normalization, and preparation for opening new stores in Fiscal 2027,” concluded Mr. Sifford. First Quarter 2026 Operating Results Net sales in the first quarter of 2026 were $270.7 million compared to $277.7 million in the first quarter of 2025. Comparable store sales declined 2.1 percent. By banner: Shoe Carnival net sales were $177.3 million, representing 65 percent of total net sales, and declined 2.2 percent, inclusive of a comparable store net sales decline of 1.7 percent. This was an improvement compared to mid-to-high single digit quarterly declines throughout Fiscal 2025. Shoe Station net sales were $93.4 million, representing 35 percent of total net sales, and declined 3.1 percent, inclusive of a comparable store net sales decline of 2.9 percent. Improved trends in rebanner store sales were more than offset by slower growth from the Shoe Station e-commerce sales channel. Gross profit margin in the first quarter of 2026 was 33.3 percent, a decrease of 120 basis points compared to the first quarter of 2025. Merchandise margin decreased 140 basis points primarily driven by increased promotional activity and higher e-commerce-related shipping costs. The decrease was partially offset by 20 basis points from primarily lower buying, distribution and occupancy costs. Selling, general and administrative expenses (“SG&A”) on a GAAP basis increased $12.3 million compared to the first quarter of 2025. Non-GAAP adjusted SG&A (“Adjusted SG&A”), which excludes non-recurring charges of $13.6 million in the first quarter of 2026 related the CEO Transition and the Company’s strategic review of its rebanner strategy, decreased $1.3 million. Income tax expense in the first quarter of 2026 was $0.6 million and was impacted by nondeductible CEO severance payments that increased income tax expense by approximately $1.6 million. The Company’s effective tax rate in the first quarter of 2026 was (11.2)% compared to 28.1% in the first quarter of 2025. The Company’s non-GAAP adjusted effective tax rate (“Adjusted Tax Rate”) in the first quarter of 2026, which excludes the impacts related to the CEO Transition and the strategic review, was 27.0 percent. The GAAP net loss for the first quarter of 2026 was $(5.6) million, or $(0.21) per diluted share. Excluding the impacts from the non-recurring charges recorded in the quarter, non-GAAP adjusted net income (“Adjusted Net Income”) and Adjusted EPS were $6.2 million and $0.23 per diluted share, respectively, compared to net income of $9.3 million and EPS of $0.34 in the first quarter of 2025. Descriptions of Adjusted Net Income, Adjusted EPS, Adjusted SG&A and Adjusted Tax Rate, and reconciliations to the corresponding GAAP measures, are provided at the end of this press release. Capital Management and Cash Flow Fiscal 2025 marked the 21st consecutive fiscal year the Company ended with no debt, fully funding operations and strategic investments from operating cash flow and cash reserves. The first quarter of 2026 was also debt-free. At the end of the first quarter of 2026, the Company held approximately $129.3 million in cash, cash equivalents, and marketable securities, an increase of 39 percent compared to the end of the first quarter of 2025. Cash flow from operations increased $32.7 million while capital expenditures declined $2.9 million. Merchandise inventories at the end of first quarter 2026 were $417.2 million, down $11.2 million compared to the end of the first quarter of 2025. The Company continues to expect inventory declines of $50 to $65 million by the end of Fiscal 2026 compared to the end of Fiscal 2025. Dividend and Share Repurchase Program During the first quarter of 2026, the Company returned approximately $12 million to shareholders through dividends and share repurchases. The $5 million in dividend payments in the first quarter of 2026 were paid at an increased rate of $0.17 per share, up 13.3 percent compared to the first quarter of 2025. This increase represented the 12th consecutive year the Company increased its quarterly dividend rate. The new Fiscal 2026 annualized rate represents a compounded annual growth rate of approximately 15.5 percent over the past 12 years. The Company has now paid a dividend for 56 consecutive quarters. Approximately $7 million of shares were repurchased during the first quarter of 2026. As of May 2, 2026, $43 million remained available under the Company's share repurchase authorization. Fiscal 2026 Guidance The Company is reaffirming its previously communicated Fiscal 2026 guidance, which continues to contemplate: Net sales of $1.125 billion to $1.147 billion, representing a range of down 1 percent to up 1 percent versus Fiscal 2025; Adjusted EPS of $1.40 to $1.60; Gross profit margin of approximately 34 percent, representing approximately 260 basis points of compression versus Fiscal 2025; Reductions in Adjusted SG&A of $12 to $14 million versus Fiscal 2025; and An Adjusted Tax Rate of approximately 26 percent. The Company’s Adjusted EPS, Adjusted SG&A and Adjusted Tax Rate guidance excludes the impact of the CEO Transition costs previously identified and the strategic review charges recorded during the first quarter of 2026. A reconciliation of the Adjusted EPS guidance to the corresponding GAAP measure is provided in a table at the end of this press release. Please refer to “Note Regarding Forward-Looking Non-GAAP Measures” at the end of this press release for further information regarding the reconciliation of Adjusted SG&A and Adjusted Tax Rate guidance. Annual Shareholder Meeting As previously announced, the Company will hold its Annual Meeting of Shareholders at 11:00 a.m. Eastern Time on June 10, 2026. Information about the annual meeting and related material, including the Company's proxy statement and annual report, can be found on the Company's website. Conference Call Today, at 9:00 a.m. Eastern Time, the Company will host a conference call to discuss its first quarter results. Participants can listen to the live webcast of the call by visiting Shoe Carnival's Investors webpage 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 the Company’s website shortly after the conclusion of the conference call and will be archived for one year. About Shoe Carnival Shoe Carnival, Inc. is one of the nation’s largest omnichannel family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of May 21, 2026, the Company operated 426 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL. Press releases and annual reports are available on the Company's website at www.shoecarnival.com. Cautionary Statement Regarding Forward-Looking Information As used herein, “we,” “our” and “us” refer to Shoe Carnival, Inc. 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, such as statements about our future growth, execution of our rebanner strategy, inventory management, operations and results, cash flows, and shareholder returns. 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,” “aims,” “on track,” “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 forward-looking statements contained in this press release to reflect future events or developments. 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: our ability to increase sales at our existing stores; the impact of intense competition and our ability to effectively compete; the impact of changes in consumer spending on our business and the impact of our promotional strategies and intensity; our ability to successfully manage and execute our marketing and pricing strategies; the impact of higher gasoline and energy prices on discretionary spending and our cost of operations; our dependence on key suppliers for merchandise and advertising support, and the impact of any loss of any key suppliers; the impact of changes in the cost, or a disruption in the flow, of imported goods as a result of trade policy and/or tariffs; our ability to manage other risks related to our reliance on imported goods; our ability to anticipate, identify and respond to emerging fashion trends; our ability to effectively manage our real estate portfolio; our ability to manage the risks associated with our e-commerce platform and its impact on traffic and transactions in our physical stores; our ability to maintain positive brand perception and recognition; our ability to maintain, grow and generate sales from members of our Shoe Perks loyalty program; our ability to successfully execute our strategies to grow our business; our ability to identify or consummate future acquisitions or achieve expected benefits from and effectively integrate future acquisitions; the internal and external impact of a failure of our information technology systems to operate effectively, or in the event such systems are disrupted or compromised; our ability to manage the risks associated with our outsourced business processes and other third-party business relationships, including disruptions to our business and increased costs; our ability to adapt to emerging technologies that may create disruption to our operations and the retail industry; our ability to manage, and the impact of, fluctuating quarterly operating results due to seasonality, weather conditions and other factors; the impact of any physical and financial risk related to the uncertainty of climate change; the impact of natural disasters, public health crises, political crises and other catastrophic events or other events outside of our control on our facilities or the facilities of third parties on which we depend, as well as on our supply chain and access to customers; the impact of litigation and reputational risk resulting from a failure to protect the integrity and security of individually identifiable data of our customers and employees; the impact of losses or liabilities in excess of our insurance coverage; the impact of periodic litigation and other regulatory proceedings, which could result in the unexpected expenditure of time and resources; our ability to manage key executive succession and retention, and attract and retain qualified personnel and control labor costs; our ability to generate and maintain cash flow and capital necessary implement our business strategy and meet our other liquidity needs; the impact of financial market volatility on the sources and costs of financing available to us; the impact of significant non-cash impairment charges in the event our long-lived assets become impaired; the impact of the loss of investor confidence in our financial reports and adverse effect on our stock price if we fail to maintain effective internal control over financial reporting; the impact of perceptions of the overall retail industry and other macroeconomic conditions on our business and stock; the impact and risk of volatility in the stock market and our stock; the impact of any changes to our dividend policy or stock repurchase program; the impact of any influence over our management and operations exerted by our principal shareholders; the impact of our organizational documents and Indiana law on potential acquisition bids for us; and other factors described in our SEC filings, including our latest Annual Report on Form 10-K and our subsequent SEC filings. Financial Tables Follow SHOE CARNIVAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
(Unaudited)       Thirteen     Thirteen       Weeks Ended     Weeks Ended       May 2, 2026     May 3, 2025   Net sales   $ 270,730     $ 277,715   Cost of sales (including buying,
distribution and occupancy costs)     180,629       181,938   Gross profit     90,101       95,777   Selling, general and administrative expenses     96,138       83,812   Operating (loss) income     (6,037 )     11,965   Interest income     (1,062 )     (1,103 ) Interest expense     85       78   (Loss) income before income taxes     (5,060 )     12,990   Income tax expense     568       3,647   Net (loss) income   $ (5,628 )   $ 9,343   Net (loss) income per share:             Basic   $ (0.21 )   $ 0.34   Diluted   $ (0.21 )   $ 0.34   Weighted average shares:             Basic     27,387       27,233   Diluted     27,387       27,476                 Cash dividends declared per share   $ 0.170     $ 0.150   SHOE CARNIVAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands) (Unaudited)       May 2,     January 31,     May 3,       2026     2026     2025   ASSETS                   Current Assets:                   Cash and cash equivalents   $ 116,100     $ 117,091     $ 78,476   Marketable securities     13,248       13,636       14,477   Accounts receivable     6,716       6,370       8,745   Merchandise inventories     417,177       439,638       428,424   Other     17,681       19,402       18,509   Total Current Assets     570,922       596,137       548,631   Property and equipment – net     177,859       185,610       178,424   Operating lease right-of-use assets     340,263       349,582       341,815   Intangible assets     40,911       40,923       40,956   Goodwill     18,018       18,018       18,018   Other noncurrent assets     11,102       11,473       12,314   Total Assets   $ 1,159,075     $ 1,201,743     $ 1,140,158                       LIABILITIES AND SHAREHOLDERS' EQUITY                   Current Liabilities:                   Accounts payable   $ 65,287     $ 79,170     $ 66,592   Accrued and other liabilities     18,858       21,199       24,699   Current portion of operating lease liabilities     57,805       58,057       58,355   Total Current Liabilities     141,950       158,426       149,646   Long-term portion of operating lease liabilities     303,396       313,368       306,987   Deferred income taxes     26,621       26,879       19,624   Deferred compensation     12,682       12,114       9,539   Other     1,026       1,290       781   Total Liabilities     485,675       512,077       486,577   Total Shareholders’ Equity     673,400       689,666       653,581   Total Liabilities and Shareholders’ Equity   $ 1,159,075     $ 1,201,743     $ 1,140,158   SHOE CARNIVAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands) (Unaudited)       Thirteen     Thirteen       Weeks Ended     Weeks Ended       May 2, 2026     May 3, 2025   Cash Flows From Operating Activities             Net (loss) income   $ (5,628 )   $ 9,343   Adjustments to reconcile net (loss) income to net
cash provided by (used in) operating activities:             Depreciation and amortization     9,017       8,335   Stock-based compensation     3,373       1,546   Loss on retirement and impairment of assets, net     8,202       596   Deferred income taxes     (258 )     745   Non-cash operating lease expense     13,215       15,876   Other     142       317   Changes in operating assets and liabilities:             Accounts receivable     (347 )     272   Merchandise inventories     22,461       (42,819 ) Operating leases     (14,119 )     (16,789 ) Accounts payable and accrued liabilities     (13,538 )     12,256   Other     559       685   Net cash provided by (used in) operating activities     23,079       (9,637 )               Cash Flows From Investing Activities             Purchases of property and equipment     (10,435 )     (13,346 ) Investments in marketable securities     (12 )     (678 ) Sales of marketable securities     600       0   Net cash used in investing activities     (9,847 )     (14,024 )               Cash Flow From Financing Activities             Proceeds from issuance of stock     46       48   Dividends paid     (5,016 )     (4,418 ) Purchase of common stock for treasury     (7,002 )     0   Shares surrendered by employees to pay taxes on
stock-based compensation awards     (2,247 )     (2,173 ) Other     (4 )     0   Net cash used in financing activities     (14,223 )     (6,543 ) Net decrease in cash and cash equivalents     (991 )     (30,204 ) Cash and cash equivalents at beginning of period     117,091       108,680   Cash and cash equivalents at end of period   $ 116,100     $ 78,476   SHOE CARNIVAL, INC. GAAP TO NON-GAAP RECONCILIATIONS   ADJUSTMENTS TO REPORTED SG&A (In thousands) (Unaudited)       Thirteen Weeks Ended       May 2, 2026     May 3, 2025   SG&A as reported   $ 96,138     $ 83,812   SG&A adjustments             Long-lived asset impairments and
write-offs     (8,304 )     0   Former CEO severance     (5,301 )     0   Total adjustments to SG&A     (13,605 )     0   Non-GAAP Adjusted SG&A   $ 82,533     $ 83,812   ADJUSTMENTS TO REPORTED NET (LOSS) INCOME AND PER SHARE AMOUNTS
(In thousands, except per share data) (Unaudited)       Thirteen Weeks
Ended May 2, 2026     Thirteen Weeks
Ended May 3, 2025       Pretax   Net of
Tax (1)   Per Share
Amounts (2)(3)     Pretax   Net of
Tax (1)   Per Share
Amounts (2)   Net income (loss) as reported       $ (5,628 ) $ (0.21 )       $ 9,343   $ 0.34   SG&A adjustments                             Long-lived asset impairments and
write-offs   $ 8,304     6,285     0.23     $ 0     0     0   Former CEO severance     5,301     5,585     0.20       0     0     0   Total adjustments to SG&A   $ 13,605     11,870     0.43     $ 0     0     0   Non-GAAP Adjusted Net Income       $ 6,242   $ 0.23         $ 9,343   $ 0.34   ____________________ (1) The as reported income tax rate in the first quarter of 2026 was (11.2)% compared to 28.1% in the first quarter of 2025. The Adjusted Tax Rate in the first quarter of 2026 was 27.0%, which tax affects the pretax adjustments at a normalized rate of 24.3% and adds back the $1.6 million impact of nondeductible CEO severance payments. (2) Adjusted EPS amounts reflect 27.6 million and 27.5 million diluted share count for the thirteen weeks ended May 2, 2026, and May 3, 2025, respectively. (3) Per share amounts are computed independently for each line item presented; therefore, the sum of the amounts may differ from each independent calculation. RECONCILIATION OF ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) GUIDANCE (Unaudited)       Fiscal 2026 Guidance       Low   High   GAAP diluted earnings per share   $ 0.97   $ 1.17   Long-lived asset impairments and write-offs     0.23     0.23   Former CEO severance     0.20     0.20   Adjusted EPS   $ 1.40   $ 1.60   Use of Non-GAAP Measures In this press release, to supplement amounts presented in our consolidated financial statements determined in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company uses certain non-GAAP financial measures, including Adjusted Net Income, Adjusted EPS, Adjusted SG&A and Adjusted Tax Rate, as shown in the tables above. These measures adjust for the charges and corresponding impact associated with (1) the CEO Transition, including cash severance, accelerated stock-based compensation, legal fees, payroll taxes, and outplacement fees, and (2) long-lived asset impairments and write-offs in connection with the completion of the Company’s strategic review of its rebanner program, as well as additional corporate assets that supported our corporate office relocation. The unaudited adjusted results should not be construed as an alternative to the reported results determined in accordance with GAAP. These financial measures are not based on any standardized methodology and are not necessarily comparable to similar measures presented by other companies. The Company believes that these non-GAAP financial measures provide useful information to both management and investors to increase comparability to prior periods by adjusting for certain items that may not be indicative of core operating measures and to better identify trends in the Company’s business. The adjusted financial results are used by management to, and allow investors to, evaluate the operating performance of the Company compared to prior periods, when reviewed in conjunction with the Company's GAAP statements. These amounts are not determined in accordance with GAAP and therefore should not be used exclusively in evaluating the Company's business and operations. Note Regarding Forward-Looking Non-GAAP Measures The reconciliation of forward-looking non-GAAP measures, including Adjusted SG&A and Adjusted Tax Rate to the most directly comparable GAAP measures is not provided because comparable GAAP measures for such measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and quantifying measures that would be necessary for such reconciliation. Namely, we are not, without unreasonable effort, able to reliably predict the component parts of SG&A and factors that impact income taxes. In addition, the Company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. These items are uncertain, depend on various factors and may have a material impact on our future GAAP results. View source version on businesswire.com: https://www.businesswire.com/news/home/20260521030241/en/ W. Kerry Jackson
Chief Financial Officer
(812) 867-4034
scvlir@scvl.com Original: Shoe Carnival Reports First Quarter 2026 Results

Shoe Carnival to Report First Quarter 2026 Financial Results on May 21, 2026May 7, 2026 4:10 PM
Business Wire Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading omnichannel retailer of footwear and accessories for the family, today announced that first quarter 2026 earnings results will be released on Thursday, May 21, 2026, before the market open. The Company will host its quarterly conference call to discuss first quarter 2026 results at 9:00 a.m. Eastern Time. The earnings call will be webcast and can be accessed in the Investors section of the Company’s website at www.shoecarnival.com. An online replay of the conference call will be available shortly after the call and will be available for one year. About Shoe Carnival Shoe Carnival, Inc. is one of the nation's largest omnichannel family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of May 7, 2026, the Company operated 426 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507278551/en/ W. Kerry Jackson
Chief Financial Officer
(812) 867-4034
scvlir@scvl.com Original: Shoe Carnival to Report First Quarter 2026 Financial Results on May 21, 2026

Shoe Carnival tops Q4 earnings forecasts as revenue misses estimatesMarch 26, 2026 6:51 AM
IH Market News
Shoe Carnival, Inc. (NASDAQ:SCVL) reported fourth-quarter results on Thursday that beat earnings expectations but fell slightly short on revenue.The footwear retailer posted adjusted earnings per share of $0.33, exceeding the analyst consensus of $0.30 by $0.03. Quarterly revenue totaled $254.1 million, missing the forecast of $255.83 million and declining 3.4% from $262.9 million in the same quarter a year earlier. Comparable store sales also decreased 3.5%.Shares of the company rose 0.67% in after-hours trading following the announcement.For fiscal 2025, Shoe Carnival reported adjusted earnings per share of $1.90, surpassing analyst estimates. Full-year revenue came in at $1.135 billion, down 5.6% from $1.203 billion recorded in fiscal 2024.The company’s gross profit margin reached 36.6% for the year, marking the fifth straight year above the 35% threshold and representing a 100-basis-point improvement compared with the previous year.“Fourth quarter results exceeded consensus expectations, and Fiscal 2025 demonstrated this organization’s ability to execute through a challenging retail environment,” said Cliff Sifford, Interim President and Chief Executive Officer.Shoe Station, the retailer’s primary growth brand, generated net sales of $236.7 million in fiscal 2025. The segment accounted for roughly 21% of total revenue and delivered organic growth of 2.7% compared with the prior year.The brand outperformed the broader family footwear industry and exceeded Shoe Carnival’s overall performance by 10.4 percentage points. However, the company said it plans to slow the pace of store conversions under the Shoe Station banner. Around 21 store conversions are scheduled for the first half of fiscal 2026, compared with 101 completed during fiscal 2025, reflecting variability in performance among rebannered locations.Looking ahead, Shoe Carnival forecast adjusted earnings per share of between $1.40 and $1.60 for fiscal 2026, below current consensus expectations. The midpoint of $1.50 represents a notable decline from the $1.90 reported for fiscal 2025.The company expects net sales in fiscal 2026 to range between a 1% decline and a 1% increase compared with fiscal 2025. Gross profit margin is projected to fall by about 260 basis points to around 34%, reflecting higher costs related to tariffs as well as increased promotional activity.Shoe Carnival ended fiscal 2025 with no debt for the 21st consecutive year and held $130.7 million in cash and marketable securities. The company’s board also approved a quarterly dividend increase to $0.17 per share, marking the 12th consecutive year of dividend growth.Shoe Carnival stock price

Original: Shoe Carnival tops Q4 earnings forecasts as revenue misses estimates

Shoe Carnival Reports Fourth Quarter and Fiscal 2025 Results; Provides Fiscal 2026 GuidanceMarch 26, 2026 6:10 AM
Business Wire
Shoe Carnival, Inc. (Nasdaq: SCVL)(the “Company”), a leading retailer of footwear and accessories for the family, today reported results for the fourth quarter and fiscal year ended January 31, 2026 (“Fiscal 2025”) and provided guidance for its fiscal year ending January 30, 2027 (“Fiscal 2026”).


Fourth Quarter and Fiscal 2025 Highlights



Fourth quarter EPS of $0.33 and full year EPS of $1.90 both exceeded consensus expectations.



Shoe Station net sales grew 2.7 percent for Fiscal 2025, outperforming the family footwear industry for the third consecutive year.



Annual gross profit margin exceeded 35 percent for the fifth consecutive year, increasing 100 basis points versus Fiscal 2024.



Company ended Fiscal 2025 debt-free for the 21st consecutive year, with $130.7 million in cash, cash equivalents, and marketable securities.



The Board of Directors approved a quarterly dividend increase to $0.17 per share, marking the 12th consecutive year of dividend increases.



“Fourth quarter results exceeded consensus expectations, and Fiscal 2025 demonstrated this organization's ability to execute through a challenging retail environment,” said Cliff Sifford, Interim President and Chief Executive Officer. “Shoe Station continues to demonstrate industry-leading performance, and we enter Fiscal 2026 with a clear operational focus: disciplined inventory management, targeted store rebanner conversions where supported by our demographic data, and expense discipline. Our balance sheet provides the financial foundation to navigate near-term margin pressure while positioning the Company for improved profitability in Fiscal 2027 and beyond.”


Mr. Sifford continued, “Shoe Station remains our primary growth vehicle. Our evolving rebanner strategy will be driven by our CRM customer data, which allows us to identify the markets within our current footprint that are best suited to the Shoe Station format, while also guiding our pursuit of new market opportunities for Shoe Station beyond our existing footprint. In markets where Shoe Carnival has historically been the dominant family footwear retailer, those stores will continue to operate under the Shoe Carnival banner. Our unique merchandising strategy and industry-leading CRM data allow us to merchandise each banner according to the preferences of each store’s customer base.”


Fourth Quarter 2025 Operating Results


Net sales in the fourth quarter of Fiscal 2025 were $254.1 million, near the midpoint of the Company's guidance range, compared to $262.9 million in the fourth quarter of Fiscal 2024. Comparable store sales declined 3.5 percent.


By banner:



Shoe Station net sales were approximately flat compared to the fourth quarter of Fiscal 2024, with a low-single digit comparable store sales decline.



Shoe Carnival net sales declined 4.5 percent, with a mid-single digit comparable store sales decline, reflecting continued pressure on lower-income consumers and a reduction in promotional marketing.



Rogan's generated net sales of $15.5 million with product margin expansion of more than 500 basis points, as those operations were fully integrated into the Shoe Station operating model.



Gross profit margin in the fourth quarter was 34.9 percent, approximately flat compared to the fourth quarter of Fiscal 2024. Merchandise margin expanded 30 basis points but was offset by deleverage in buying, distribution, and occupancy costs.


Net income was $9.1 million, or $0.33 per diluted share (“EPS”), exceeding consensus expectations. The Company estimates rebanner investments reduced fourth quarter EPS by approximately $0.08, primarily impacting selling, general and administrative expenses.


Fiscal Year 2025 Operating Results


Net sales for Fiscal 2025 were $1.135 billion, a decrease of 5.6 percent compared to Fiscal 2024, including a comparable store sales decline of 5.6 percent. The Shoe Carnival net sales decline of 7.7 percent was the primary driver.


Shoe Station net sales were $236.7 million in Fiscal 2025, representing 21 percent of total net sales, and grew organically 2.7 percent compared to Fiscal 2024, inclusive of a low-single digit comparable store sales increase. Shoe Station's net sales growth outperformed the family footwear industry and exceeded Shoe Carnival's performance by 10.4 percentage points.


Fiscal 2025 gross profit margin was 36.6 percent, marking the fifth consecutive year gross profit margin has exceeded 35 percent. The 100 basis point improvement compared to Fiscal 2024 was driven by disciplined pricing, favorable mix shift toward Shoe Station's higher-income consumer, and deliberate inventory management decisions made in anticipation of tariff cost increases.


Net income for Fiscal 2025 was $52.3 million, or $1.90 per diluted share, compared to $73.8 million, or $2.68 per diluted share, in Fiscal 2024. The Company estimates EPS included a negative impact of approximately $0.66 from rebanner investments in Fiscal 2025.


Capital Management and Cash Flow


Fiscal 2025 marked the 21st consecutive fiscal year the Company ended with no debt, fully funding operations and strategic investments from operating cash flow. At the end of Fiscal 2025, the Company held approximately $130.7 million in cash, cash equivalents, and marketable securities, an increase of 6 percent compared to the end of Fiscal 2024.


Merchandise inventories at the end of Fiscal 2025 were $439.6 million, up approximately 14 percent compared to the end of Fiscal 2024. Inventory levels increased during Fiscal 2025 through opportunistic pre-tariff buys of seasonal and in-demand merchandise. These purchases supported merchandise margin expansion in Fiscal 2025 and are expected to continue supporting margins as this inventory is sold in Fiscal 2026, partially offsetting the impact of higher tariff-affected product costs.


Dividend and Share Repurchase Program


In March 2026, the Board of Directors approved a dividend increase to $0.17 per share, payable April 20, 2026 to shareholders of record as of April 6, 2026. This represents the 12th consecutive year the Company has increased its quarterly dividend. The new annualized rate represents a compounded annual growth rate of approximately 15.5 percent over the past 12 years. The Company has now paid a dividend for 56 consecutive quarters.


As of March 26, 2026, $50 million remained available under the Company's share repurchase authorization. No shares were repurchased during Fiscal 2025.


Banner Strategy Update


On November 13, 2025, the Company announced that its Board of Directors unanimously approved changing the corporate name to Shoe Station Group, Inc., subject to shareholder approval at the Annual Meeting of Shareholders in June 2026. That proposed name change remains on the June 2026 agenda. The proposed corporate name change to Shoe Station Group, Inc. reflects the Board's conviction that the Shoe Station concept is the Company's primary long-term growth vehicle.


At the end of Fiscal 2025, Shoe Station represented 144 stores and 34 percent of the Company's 426-store fleet, up from 10 percent of the fleet at the start of Fiscal 2025.


Fiscal 2025 marked the first large-scale deployment of the Company’s rebanner program, with 101 store rebanners completed beyond the initial 10-store test conducted in Fiscal 2024. In evaluating the performance of those 101 stores, particularly Net Sales in the second-half of Fiscal 2025, the Company observed that, while Shoe Station's e-commerce results have been a meaningful contributor to banner-level sales growth, demonstrating strong consumer response to the Shoe Station brand and assortment online, there was significant variability in in-store performance across rebannered locations, with some stores performing well and others not achieving anticipated results.


As a result, the Company is making the strategic decision to slow the pace of store rebanners in Fiscal 2026 from its previously announced timelines to allow time to identify which consumer demographics are responding most favorably to the Shoe Station format, to determine which marketing channels are most effective in driving new customer acquisition, and to refine product mix in rebannered stores to improve in-store conversion. The Company now expects to rebanner approximately 21 stores during the first half of Fiscal 2026 while this evaluation is conducted.


Record Date and Date of Annual Shareholder Meeting


The Company announced that April 13, 2026, has been set as the shareholder of record date and the Annual Meeting of Shareholders will be held on June 10, 2026.


Fiscal 2026 Guidance


The following guidance reflects the Company's current expectations for Fiscal 2026 and incorporates the revised rebanner plan, anticipated tariff cost increases, and the Company's deliberate inventory reduction strategy.



Net sales: approximately down 1 percent to up 1 percent compared to Fiscal 2025, reflecting comparable store sales declines in the first half offset by improvement in the second half as 21 planned rebanners are completed and Shoe Station's growth continues.



Gross profit margin: approximately 34 percent, a decline of approximately 260 basis points compared to Fiscal 2025. This reflects three factors: (1) tariff-related cost increases flowing through the cost of sales as pre-tariff inventory is sold and replaced with higher-cost goods; (2) the non-recurrence of the temporary price increase benefit realized in Fiscal 2025 when prices were raised in advance of cost increases; and (3) increased promotional activity required to improve inventory turns and reduce elevated inventory levels. The Company notes that Fiscal 2025 gross margins were elevated relative to the prior multi-year trend due to the timing of the temporary price increase benefit.



Adjusted SG&A expenses: expected to decrease approximately $12 to $14 million versus Fiscal 2025, reflecting lower rebanner-related costs associated with the reduced rebanner conversion program and continued operational cost discipline.(1)



Adjusted EPS: expected in a range of $1.40 to $1.60.(1)





______________








(1)







This measure is a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is not available without unreasonable efforts. See “Forward-Looking Non-GAAP Financial Measures” below, which identifies the information that is unavailable without unreasonable efforts and provides additional information. It is probable that this forward-looking non-GAAP financial measure may be materially different from the corresponding GAAP financial measure.







The Company expects the first half of Fiscal 2026 to be more challenging, with comparable store sales improvement and the benefit of completed rebanners expected to contribute to better results in the second half of the year.


Conference Call


Today, at 9:00 a.m. Eastern Time, the Company will host a conference call to discuss its fourth quarter and full year Fiscal 2025 results and Fiscal 2026 guidance. Participants may listen to the live webcast by visiting the Investors section of the Company's website at www.shoecarnival.com. A replay of the webcast will be available on the Company's website beginning approximately two hours after the call concludes and will be archived for one year.


About Shoe Carnival


Shoe Carnival, Inc. is one of the nation's largest family footwear retailers, offering a broad assortment of dress, casual, and athletic footwear for men, women, and children with emphasis on national name brands. As of March 26, 2026, the Company operated 426 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL.


Forward-Looking Non-GAAP Financial Measures


This press release and the Company’s commentary in its earnings conference call today include adjusted earnings per diluted share (“Adjusted EPS”) and adjusted selling, general and administrative expense (“Adjusted SG&A”) guidance for Fiscal 2026. Adjusted EPS and Adjusted SG&A are non-GAAP financial measures that are based on the Company’s internal forecasts and exclude certain items related to the Company’s recent CEO transition that would be included in GAAP financial measures, including CEO separation costs and related tax effects that are expected to be in a range of $0.20 to $0.22 per diluted share ($5 million on a pre-tax basis) and other related CEO transition costs that are not considered indicative of the Company’s ongoing operating performance. These other CEO transition costs may include, but are not limited to, other costs associated with executive leadership transitions, restructuring charges, asset impairments and store closure costs, discrete tax items related to costs incurred, and changes in the shares included in earnings per diluted share calculations. The Company has not provided quantitative reconciliations of forward-looking Adjusted EPS and Adjusted SG&A to the most directly comparable forward-looking GAAP financial measures, earnings per diluted share and selling, general and administrative expense, respectively, because the excluded items are not available on a prospective basis without unreasonable efforts. This is due to the inherent difficulty of forecasting the occurrence, timing, and amount of other costs that have not yet occurred or cannot be reasonably predicted. It is probable that these forward-looking non-GAAP financial measures may be materially different from the corresponding GAAP financial measures.


Cautionary Statement Regarding Forward-Looking Information


As used herein, “we”, “our” and “us” refer to Shoe Carnival, Inc. 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, such as statements about our future growth, our banner strategy, operations, cash flows and shareholder returns.


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: our ability to achieve expected operating results from, and planned growth of, our Shoe Station banner, including our ability to increase our comparable stores Net Sales from rebannering Shoe Carnival locations into Shoe Station locations and our ability to achieve expected cost savings, synergies, and inventory reductions from operating more Shoe Station stores, within expected time frames, or at all; the impact of competition and pricing, including our ability to maintain current promotional intensity levels; changes in the political and economic environments in, the status of trade relations with, and the impact of changes in trade policies and tariffs impacting China and other countries that are the major manufacturers of footwear; our ability to control costs and meet our labor needs in a rising wage, inflationary, and/or supply chain constrained environment; cost and uncertainty associated with our CEO transition; the effects and duration of economic downturns and unemployment rates; the potential impact of national and international security concerns, including those caused by war and terrorism, on the retail environment; general economic conditions, such as gasoline and energy prices and interest rates, in the areas of the continental United States and Puerto Rico where our stores are located; changes in the overall retail environment and more specifically in the apparel and footwear retail sectors; our ability to successfully utilize the e-commerce sales channel and its impact on traffic and transactions in our physical stores; the success of the open-air shopping centers where many of our stores are located and the impact on our ability to attract customers to our stores; our ability to attract customers to our e-commerce platform and to successfully grow our omnichannel sales; the effectiveness of our inventory management, including our ability to manage key merchandise vendor relationships and direct-to-consumer initiatives; changes in our relationships with other key suppliers; our ability to successfully manage and execute our marketing initiatives and maintain positive brand perception and recognition; our ability to successfully manage our current real estate portfolio and leasing obligations; changes in weather, including patterns impacted by climate change; changes in 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 including at our distribution center located in Evansville, IN; the impact of natural disasters, public health and political crises, civil unrest, and other catastrophic events on our operations and the operations of our suppliers, as well as on consumer confidence and purchasing in general; the duration and spread of a public health crisis and the mitigating efforts deployed, including the effects of government stimulus on consumer spending; risks associated with the seasonality of the retail industry; the impact of unauthorized disclosure or misuse of personal and confidential information about our customers, vendors and employees, including as a result of a cybersecurity breach; our ability to effectively achieve the operating results from, and maintain the synergies, efficiencies and other benefits gained through, our acquisition strategy; our ability to successfully execute our business strategy, including the availability of desirable store locations at acceptable lease terms, our ability to identify, consummate or effectively integrate future acquisitions, our ability to implement and adapt to new technology and systems, our ability to open new stores in a timely and profitable manner, including our entry into major new markets, and the availability of sufficient funds to implement our business plans; higher than anticipated costs associated with the closing of underperforming stores; the inability of manufacturers to deliver products in a timely manner; an increase in the cost, or a disruption in the flow, of imported goods; the impact of regulatory changes in the United States, including minimum wage laws and regulations, and the countries where our manufacturers are located; the resolution of litigation or regulatory proceedings in which we are or may become involved; continued volatility and disruption in the capital and credit markets; future stock repurchases under our stock repurchase program and future dividend payments; and other factors described in the Company’s SEC filings, including the Company’s latest Annual Report on Form 10-K. 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,” “aims,” “on track,” “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 forward-looking statements contained in this press release to reflect future events or developments.


Financial Tables Follow



 



SHOE CARNIVAL, INC.




CONDENSED CONSOLIDATED STATEMENTS OF INCOME




(In thousands, except per share data)




(Unaudited)








 








 






 






Thirteen






 






 






Thirteen






 






 






Fifty-Two






 






 






Fifty-Two






 








 






 






Weeks Ended






 






 






Weeks Ended






 






 






Weeks Ended






 






 






Weeks Ended






 








 






 






January 31,

2026






 






 






February 1,

2025






 






 






January 31,

2026






 






 






February 1,

2025






 








Net sales






 






$






254,066






 






 






$






262,939






 






 






$






1,135,324






 






 






$






1,202,885






 








Cost of sales (including buying, distribution

and occupancy costs)






 






 






165,338






 






 






 






171,270






 






 






 






720,174






 






 






 






774,091






 








Gross profit






 






 






88,728






 






 






 






91,669






 






 






 






415,150






 






 






 






428,794






 








Selling, general and administrative expenses






 






 






77,786






 






 






 






77,632






 






 






 






348,392






 






 






 






337,642






 








Operating income






 






 






10,942






 






 






 






14,037






 






 






 






66,758






 






 






 






91,152






 








Interest and other income






 






 






(1,016






)






 






 






(4,025






)






 






 






(4,002






)






 






 






(6,648






)








Interest expense






 






 






140






 






 






 






(98






)






 






 






373






 






 






 






314






 








Income before income taxes






 






 






11,818






 






 






 






18,160






 






 






 






70,387






 






 






 






97,486






 








Income tax expense






 






 






2,763






 






 






 






3,495






 






 






 






18,118






 






 






 






23,720






 








Net income






 






$






9,055






 






 






$






14,665






 






 






$






52,269






 






 






$






73,766






 








Net income per share:






 






 






 






 






 






 






 






 






 






 






 






 








Basic






 






$






0.33






 






 






$






0.54






 






 






$






1.91






 






 






$






2.72






 








Diluted






 






$






0.33






 






 






$






0.53






 






 






$






1.90






 






 






$






2.68






 








Weighted average shares:






 






 






 






 






 






 






 






 






 






 






 






 








Basic






 






 






27,355






 






 






 






27,166






 






 






 






27,318






 






 






 






27,157






 








Diluted






 






 






27,615






 






 






 






27,579






 






 






 






27,535






 






 






 






27,524






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Cash dividends declared per share






 






$






0.150






 






 






$






0.135






 






 






$






0.600






 






 






$






0.540






 












SHOE CARNIVAL, INC.




CONDENSED CONSOLIDATED BALANCE SHEETS




(In thousands)




(Unaudited)








 








 






 






January 31,

2026






 






 






February 1,

2025






 








ASSETS






 






 






 






 






 






 








Current Assets:






 






 






 






 






 






 








Cash and cash equivalents






 






$






117,091






 






 






$






108,680






 








Marketable securities






 






 






13,636






 






 






 






14,432






 








Accounts receivable






 






 






6,370






 






 






 






9,018






 








Merchandise inventories






 






 






439,638






 






 






 






385,605






 








Other






 






 






19,402






 






 






 






18,409






 








Total Current Assets






 






 






596,137






 






 






 






536,144






 








Property and equipment – net






 






 






185,610






 






 






 






172,806






 








Operating lease right-of-use assets






 






 






349,582






 






 






 






343,547






 








Intangible assets






 






 






40,923






 






 






 






40,968






 








Goodwill






 






 






18,018






 






 






 






18,018






 








Other noncurrent assets






 






 






11,473






 






 






 






12,650






 








Total Assets






 






$






1,201,743






 






 






$






1,124,133






 








 






 






 






 






 






 






 








LIABILITIES AND SHAREHOLDERS' EQUITY






 






 






 






 






 






 








Current Liabilities:






 






 






 






 






 






 








Accounts payable






 






$






79,170






 






 






$






52,030






 








Accrued and other liabilities






 






 






21,199






 






 






 






25,382






 








Current portion of operating lease liabilities






 






 






58,057






 






 






 






53,013






 








Total Current Liabilities






 






 






158,426






 






 






 






130,425






 








Long-term portion of operating lease liabilities






 






 






313,368






 






 






 






314,974






 








Deferred income taxes






 






 






26,879






 






 






 






18,879






 








Deferred compensation






 






 






12,114






 






 






 






10,011






 








Other






 






 






1,290






 






 






 






848






 








Total Liabilities






 






 






512,077






 






 






 






475,137






 








Total Shareholders’ Equity






 






 






689,666






 






 






 






648,996






 








Total Liabilities and Shareholders’ Equity






 






$






1,201,743






 






 






$






1,124,133






 












SHOE CARNIVAL, INC.




CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS




(In thousands)




(Unaudited)








 








 






 






Fifty-Two






 






 






Fifty-Two






 








 






 






Weeks Ended






 






 






Weeks Ended






 








 






 






January 31,

2026






 






 






February 1,

2025






 








Cash Flows From Operating Activities






 






 






 






 






 






 








Net income






 






$






52,269






 






 






$






73,766






 








Adjustments to reconcile net income to net

cash provided by operating activities:






 






 






 






 






 






 








Depreciation and amortization






 






 






34,348






 






 






 






31,065






 








Stock-based compensation






 






 






7,312






 






 






 






7,697






 








Loss (Gain) on retirement and impairment of assets, net






 






 






1,836






 






 






 






(158






)








Deferred income taxes






 






 






8,000






 






 






 






564






 








Non-cash operating lease expense






 






 






57,578






 






 






 






56,493






 








Other






 






 






1,749






 






 






 






(1,144






)








Changes in operating assets and liabilities:






 






 






 






 






 






 








Accounts receivable






 






 






2,617






 






 






 






(4,060






)








Merchandise inventories






 






 






(54,033






)






 






 






2,183






 








Operating leases






 






 






(60,176






)






 






 






(55,490






)








Accounts payable and accrued liabilities






 






 






24,711






 






 






 






(10,529






)








Other






 






 






(4,911






)






 






 






2,251






 








Net cash provided by operating activities






 






 






71,300






 






 






 






102,638






 








 






 






 






 






 






 






 








Cash Flows From Investing Activities






 






 






 






 






 






 








Purchases of property and equipment






 






 






(44,716






)






 






 






(33,161






)








Investments in marketable securities






 






 






(2,772






)






 






 






(1,161






)








Sales of marketable securities and other






 






 






3,470






 






 






 






1,412






 








Acquisition, net of cash acquired






 






 






0






 






 






 






(44,762






)








Net cash used in investing activities






 






 






(44,018






)






 






 






(77,672






)








 






 






 






 






 






 






 








Cash Flow From Financing Activities






 






 






 






 






 






 








Proceeds from issuance of stock






 






 






172






 






 






 






169






 








Dividends paid






 






 






(16,748






)






 






 






(14,711






)








Shares surrendered by employees to pay taxes on

stock-based compensation awards






 






 






(2,268






)






 






 






(744






)








Other






 






 






(27






)






 






 






0






 








Net cash used in financing activities






 






 






(18,871






)






 






 






(15,286






)








Net increase in cash and cash equivalents






 






 






8,411






 






 






 






9,680






 








Cash and cash equivalents at beginning of year






 






 






108,680






 






 






 






99,000






 








Cash and cash equivalents at end of year






 






$






117,091






 






 






$






108,680






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260326640844/en/
W. Kerry Jackson

Chief Financial Officer

(812) 867-4034

scvlir@scvl.com


Original: Shoe Carnival Reports Fourth Quarter and Fiscal 2025 Results; Provides Fiscal 2026 Guidance

Shoe Carnival Declares Increased Quarterly Cash Dividend and Sets Date for Fourth Quarter 2025 Earnings ReleaseMarch 9, 2026 11:45 AM
Business Wire
Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of footwear and accessories for the family, announced today the declaration of an increased quarterly cash dividend and the scheduling of its fourth quarter 2025 earnings release.


Increased Dividend


The Company’s Board of Directors has approved the payment of a quarterly cash dividend of $0.17 per share, representing a quarterly increase of 13.3 percent and an increase in the annualized dividend rate to $0.68 per share.


The quarterly cash dividend will be paid on April 20, 2026, to shareholders of record as of the close of business on April 6, 2026.


“This year’s dividend increase marks the 12th consecutive year the Company has raised its dividend, with the annualized rate growing from $0.12 to $0.68 per share over that period, representing a compounded annual growth rate of approximately 15.5 percent. The Board’s decision to increase the quarterly dividend demonstrates confidence in our growth strategies and the strength of our balance sheet, which held over $130 million in cash and securities at the end of Fiscal 2025,” commented Cliff Sifford, Shoe Carnival’s Interim President and Chief Executive Officer.


Future declarations of dividends are subject to approval of the Board of Directors and will depend on the Company’s results of operations, financial condition, business conditions and other factors deemed relevant by the Board of Directors.


Fourth Quarter 2025 Financial Results to be released on March 26, 2026


The Company also set the date and time for its fourth quarter 2025 earnings release. Results will be released on Thursday, March 26, 2026, prior to market open. The Company will host its quarterly conference call at 9:00 a.m. Eastern Time to discuss fourth quarter 2025 results and its outlook for Fiscal 2026.


The earnings call will be webcast and can be accessed in the Investors section of Shoe Carnival’s website at www.shoecarnival.com. The online replay of the conference call will be available shortly after the call and will be available for one year.


About Shoe Carnival


Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with an emphasis on national name brands. As of March 9, 2026, the Company operated 426 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL.


Cautionary Statement Regarding Forward-Looking Information


As used herein, "the Company", “we”, “our” and “us” refer to Shoe Carnival, Inc. 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, such as statements about our future growth, operations, cash flows and shareholder returns.


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: our ability to achieve expected operating results from, and planned growth of, our Shoe Station banner, including our ability to increase our comparable stores Net Sales from rebannering Shoe Carnival locations into Shoe Station locations and our ability to achieve expected cost savings, synergies and inventory reductions from operating principally under one banner, within expected time frames, or at all; the impact of competition and pricing, including our ability to maintain current promotional intensity levels; changes in the political and economic environments in, the status of trade relations with, and the impact of changes in trade policies and tariffs impacting China and other countries, which are the major manufacturers of footwear; our ability to control costs and meet our labor needs in a rising wage, inflationary, and/or supply chain constrained environment; the effects and duration of economic downturns and unemployment rates; the potential impact of national and international security concerns, including those caused by war and terrorism, on the retail environment; general economic conditions in the areas of the continental United States and Puerto Rico where our stores are located; changes in the overall retail environment and more specifically in the apparel and footwear retail sectors; our ability to successfully utilize the e-commerce sales channel and its impact on traffic and transactions in our physical stores; the success of the open-air shopping centers where many of our stores are located and the impact on our ability to attract customers to our stores; our ability to attract customers to our e-commerce platform and to successfully grow our omnichannel sales; the effectiveness of our inventory management, including our ability to manage key merchandise vendor relationships and direct-to-consumer initiatives; changes in our relationships with other key suppliers; our ability to successfully manage and execute our marketing initiatives and maintain positive brand perception and recognition; our ability to successfully manage our current real estate portfolio and leasing obligations; changes in weather, including patterns impacted by climate change; changes in 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 including at our distribution center located in Evansville, IN; the impact of natural disasters, public health and political crises, civil unrest, and other catastrophic events on our operations and the operations of our suppliers, as well as on consumer confidence and purchasing in general; the duration and spread of a public health crisis and the mitigating efforts deployed, including the effects of government stimulus on consumer spending; risks associated with the seasonality of the retail industry; the impact of unauthorized disclosure or misuse of personal and confidential information about our customers, vendors and employees, including as a result of a cybersecurity breach; our ability to effectively achieve the operating results from, and maintain the synergies, efficiencies and other benefits gained through, our acquisition strategy; our ability to successfully execute our business strategy, including the availability of desirable store locations at acceptable lease terms, our ability to identify, consummate or effectively integrate future acquisitions, our ability to implement and adapt to new technology and systems, our ability to open new stores in a timely and profitable manner, including our entry into major new markets, and the availability of sufficient funds to implement our business plans; higher than anticipated costs associated with the closing of underperforming stores; the inability of manufacturers to deliver products in a timely manner; an increase in the cost, or a disruption in the flow, of imported goods; the impact of regulatory changes in the United States, including minimum wage laws and regulations, and the countries where our manufacturers are located; the resolution of litigation or regulatory proceedings in which we are or may become involved; continued volatility and disruption in the capital and credit markets; future stock repurchases under our stock repurchase program and future dividend payments; and other factors described in the Company’s SEC filings, including the Company’s latest Annual Report on Form 10-K. 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,” “aims,” “on track,” “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 forward-looking statements contained in this press release to reflect future events or developments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260309391068/en/
W. Kerry Jackson

Chief Financial Officer

Direct Line: (812) 867-4034

scvlir@scvl.com


www.shoecarnival.com

Investor Relations: (812) 867-6471


Original: Shoe Carnival Declares Increased Quarterly Cash Dividend and Sets Date for Fourth Quarter 2025 Earnings Release

Shoe Carnival Announces CEO Transition and Full Year Fiscal 2025 Preliminary ResultsFebruary 25, 2026 6:10 AM
Business Wire
Cliff Sifford, Former CEO and Current Vice Chairman of the Board, Appointed Interim President and CEO


Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of footwear and accessories for the family, announced today that Cliff Sifford, the Company’s current Vice Chairman of the Board, has been named the Interim President and Chief Executive Officer of the Company, effective February 24, 2026. Mr. Sifford succeeds Mark Worden, who departed from his position as the Company’s President and Chief Executive Officer and resigned as a member of the Board of Directors, effective February 24, 2026. The Company will commence a search for a permanent successor.


Mr. Sifford has served as the Vice Chairman of the Board of the Company since October 2021 and served as Vice Chairman of the Board and Chief Executive Officer from September 2019 until September 2021. Mr. Sifford also served as President and Chief Executive Officer of the Company from October 2012 to September 2019. Mr. Sifford has been with the Company since 1997.


“We’re grateful for Mark’s many contributions throughout his career at Shoe Carnival and wish him all the best,” said Charlie Tomm, Lead Independent Director on the Company’s Board of Directors. “As we look to the next chapter in Shoe Carnival’s transformation and growth, we’re excited to welcome Cliff back to the CEO role. The Board believes that Cliff’s proven leadership, coupled with his years of experience with Shoe Carnival and his vast knowledge of the business, make him the right person to lead Shoe Carnival as we execute our strategic plan.”


“I am honored to be named Interim President and Chief Executive Officer to help lead Shoe Carnival through its next phase of growth,” commented Cliff Sifford. “I look forward to working with the rest of the executive team and the Board as we seek to become the nation's leading family footwear retailer.”


Fiscal 2025 Preliminary Results


For the fiscal year ended January 31, 2026 (“Fiscal 2025”), the Company’s net sales were $1.135 billion. Diluted earnings per share for Fiscal 2025 are expected to be $1.90, which is $0.03 higher than consensus expectations.


The Company ended Fiscal 2025 with over $130 million of cash, cash equivalents and marketable securities on hand. Fiscal 2025 marks the 21st consecutive year the Company ended the year with no debt, fully funding operations and its rebanner strategy with cash on hand.


The foregoing expected results are preliminary and remain subject to the completion of normal quarter and year-end accounting and auditing procedures and closing adjustments.


About Shoe Carnival


Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of February 25, 2026, the Company operated 426 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL.


Press releases and annual reports are available on the Company's website at www.shoecarnival.com.


Cautionary Statement Regarding Forward-Looking Information


As used herein, “we,” “our,” “us” and “the Company” refer to Shoe Carnival, Inc. 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, such as statements about our preliminary financial results for fiscal 2025 and our future growth, operations and shareholder returns.


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: our ability to achieve expected operating results from, and planned growth of, our Shoe Station banner, including our ability to increase our comparable stores net sales from rebannering Shoe Carnival locations into Shoe Station locations and our ability to achieve expected cost savings, synergies and inventory reductions from operating principally under one banner, within expected time frames, or at all; the impact of competition and pricing, including our ability to maintain current promotional intensity levels; changes in the political and economic environments in, the status of trade relations with, and the impact of changes in trade policies and tariffs impacting, China and other countries which are the major manufacturers of footwear; our ability to control costs and meet our labor needs in a rising wage, inflationary, and/or supply chain constrained environment; the effects and duration of economic downturns and unemployment rates; the potential impact of national and international security concerns, including those caused by war and terrorism, on the retail environment; general economic conditions in the areas of the continental United States and Puerto Rico where our stores are located; changes in the overall retail environment and more specifically in the apparel and footwear retail sectors; our ability to successfully utilize the e-commerce sales channel and its impact on traffic and transactions in our physical stores; the success of the open-air shopping centers where many of our stores are located and the impact on our ability to attract customers to our stores; our ability to attract customers to our e-commerce platform and to successfully grow our omnichannel sales; the effectiveness of our inventory management, including our ability to manage key merchandise vendor relationships and direct-to-consumer initiatives; changes in our relationships with other key suppliers; our ability to successfully manage and execute our marketing initiatives and maintain positive brand perception and recognition; our ability to successfully manage our current real estate portfolio and leasing obligations; changes in weather, including patterns impacted by climate change; changes in 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 including at our distribution center located in Evansville, IN; the impact of natural disasters, public health and political crises, civil unrest, and other catastrophic events on our operations and the operations of our suppliers, as well as on consumer confidence and purchasing in general; the duration and spread of a public health crisis and the mitigating efforts deployed, including the effects of government stimulus on consumer spending; risks associated with the seasonality of the retail industry; the impact of unauthorized disclosure or misuse of personal and confidential information about our customers, vendors and employees, including as a result of a cybersecurity breach; our ability to effectively achieve the operating results from, and maintain the synergies, efficiencies and other benefits gained through, our acquisition strategy, including our recent acquisition of Rogan’s; our ability to successfully execute our business strategy, including the availability of desirable store locations at acceptable lease terms, our ability to identify, consummate or effectively integrate future acquisitions, our ability to implement and adapt to new technology and systems, our ability to open new stores in a timely and profitable manner, including our entry into major new markets, and the availability of sufficient funds to implement our business plans; higher than anticipated costs associated with the closing of underperforming stores; the inability of manufacturers to deliver products in a timely manner; an increase in the cost, or a disruption in the flow, of imported goods; the impact of regulatory changes in the United States, including minimum wage laws and regulations, and the countries where our manufacturers are located; the resolution of litigation or regulatory proceedings in which we are or may become involved; continued volatility and disruption in the capital and credit markets; future stock repurchases under our stock repurchase program and future dividend payments; and other factors described in the Company’s SEC filings, including the Company’s latest Annual Report on Form 10-K. 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,” “aims,” “on track,” “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 forward-looking statements contained in this press release to reflect future events or developments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260225683808/en/
W. Kerry Jackson

Chief Financial Officer

(812) 867-4034

scvlir@scvl.com


www.shoecarnival.com

(812) 867-6471


Original: Shoe Carnival Announces CEO Transition and Full Year Fiscal 2025 Preliminary Results

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Shoe Carnival To Present At The Jefferies 2012 Global Consumer ...
TheStreet.com (press release) - Jun 6, 2012
Shoe Carnival, Inc (NASDAQ: SCVL), a leading retailer of value-priced footwear and accessories, announced today that Kerry Jackson, the Company's Chief ..

http://www.thestreet.com/story/11571656/1/shoe-carnival-to-present-at-the-jefferies-2012-global-consumer-conference.html

~ Wednesday! $SCVL ~ Earnings posted, pending or coming soon! In Charts and Links Below!

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