SEC 8-K filings with transcript text
May 21, 2026
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May 21, 2026
FORT MILL, S.C. - 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 admi
Mar 26, 2026
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SHOE CARNIVAL REPORTS FOURTH QUARTER AND FISCAL 2025 RESULTS; PROVIDES FISCAL 2026 GUIDANCE
March 26, 2026
FORT MILL, SC - 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
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