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Key Takeaways
- Shoe Carnival's sales for the fourth quarter and projections for 2025 fell short of estimates.
- Both adjusted profits and sales fell from the same period last year.
- CEO Mark Worden also announced a rebranding plan that will result in more than half of the company's stores becoming Shoe Station locations in the next two years.
Shoe Carnival (SCVL), on Thursday, reported fourth-quarter results and fiscal 2025 projections that fell short of analyst’s estimates.
The footwear seller reported adjusted earning per share (EPS), which was $0.54. This is 5 cents less than the same quarter one year ago, but above the Visible Alpha analyst consensus. Sales also fell year-over-year to $262.94 million, about $8 million below analysts' expectations.
Comparable store sales declined by 6.3% during the quarter. This is almost triple the 2% drop that analysts predicted.
Shoe Carnival’s fiscal 2025 sales forecast is $1.15 billion to $1.2 billion, which is below the analyst consensus of $1.25 billion.
CEO Announces Rebranding Effort, 175 Stores to Become 'Shoe Station' Locations
CEO Mark Worden said Thursday that the company's transition of some Shoe Carnival stores to a brand called Shoe Station, which Shoe Carnival acquired in 2021, has "exceeded my expectations." The CEO announced plans to rebrand Shoe Station stores in 175 of the company’s stores.
The company currently operates 431 stores, with 346 Shoe Carnival stores and 57 Shoe Station stores, along with 28 recently acquired Rogan's stores. The new rebranding project will make more than half of the company's fleet Shoe Station locations over the next two years.
Shoe Carnival shares are available. Thursday morning, the Dow Jones Industrial Average was up more than 1% and down more than 30% in the last year.
