Shoe Carnival Reports First Quarter 2026 Results

About this update from Shoe Carnival, Inc.

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 expecta...

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