Press release
Shoe Carnival Reports Fourth Quarter and Fiscal 2024 Results
EVANSVILLE, Ind.--(BUSINESS WIRE)-- Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Company”), a leading retailer of footwear and accessories for the family, today
About this update from Shoe Carnival, Inc.
[{"type":"text","content":" EVANSVILLE, Ind.--(BUSINESS WIRE)--\nShoe 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 February 1, 2025 (“Fiscal 2024”) and provided annual guidance for its fiscal year ending on January 31, 2026 (“Fiscal 2025”).\n\n\nAchieved high end of annual EPS expectations with GAAP EPS of $2.68 and Adjusted EPS of $2.72.\n\n\nAchieved annual sales growth of 2.3 percent, in line with expectations.\n\n\nAchieved industry-leading sales growth of 5.7 percent from Shoe Station.\n\n\nExceeded profit and synergy expectations from the Rogan’s Shoes (“Rogan’s”) acquisition.\n\n\nLaunching long-term growth strategy to expand Shoe Station into national footwear retailer.\n\n\n“I would like to thank our team members and brand partners for their exceptional contributions to our growth during Fiscal 2024. We achieved the very top end of our annual profit guidance and drove solid sales growth despite a challenging economic landscape. Shoe Station expanded at a pace that made it the fastest growing retailer in our industry once again. We rapidly captured full synergies from our Rogan’s acquisition and grew our sales during key event periods throughout the year,” said Mark Worden, President and Chief Executive Officer.\n\nMr. Worden continued, “For the 20th consecutive year, we ended the year with no debt and cash flow generation that fully funded our growth initiatives, acquisitions, and operations. We completed a full year of in-market testing for our Shoe Station growth strategy, and the customer response drove results that exceeded my expectations. Today we are announcing a new long-term strategy to expand Shoe Station from the regional market leader it is today, into a national footwear and accessories leader. The first phase of this expansion plan is to rebanner 175 stores to Shoe Station, resulting in over half of our fleet being operated under the Shoe Station banner in the next 24 months. We are rapidly scaling up Shoe Station store counts and near-term investments to capture market share and significant profit expansion by early 2027.”\n\nOperating Results\n\nFourth quarter 2024 included 13 weeks compared to 14 weeks in fourth quarter Fiscal 2023 and Fiscal 2024 included 52 weeks compared to 53 weeks in Fiscal 202...