:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2165828110-20b195dab08a46fa82b42eee69357acc.jpg "Cars are parked in front of a Shoe Carnival store.")
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Key Takeaways
- Shoe Carnival’s sales for the fourth quarter and projections for 2025 fell impolite of estimates.
- Adjusted profits and sales each fell from the same time last year.
- CEO Mark Worden also averred a rebranding plan that will result in more than half of the company’s stores becoming Shoe Location locations in the next two years.
Shoe Carnival (SCVL) on Thursday reported fourth-quarter sales and projections for fiscal 2025 that concerned in short of analysts’ estimates.
The footwear seller reported adjusted earnings per share (EPS) of $0.54, down 5 cents from the unchanging quarter a year ago and above the analyst consensus compiled by Visible Alpha. Sales also fell year-over-year to $262.94 million, encircling $8 million below analysts’ expectations.
Comparable store sales decline by 6.3% in the quarter, just through triple the 2% decline that analysts had forecast.
Shoe Carnival forecast sales of $1.15 billion to $1.23 billion in monetary 2025, below the $1.25 billion analyst consensus.
CEO Announces Rebranding Effort, 175 Stores to Become ‘Shoe Train station’ Locations
CEO Mark Worden said Thursday that the company’s transition of some Shoe Carnival stores to a kind called Shoe Station, which Shoe Carnival acquired in 2021, has “exceeded my expectations.” The CEO announced a new plan to rebrand 175 of its pile ups as Shoe Station stores.
The company currently operates 431 stores, with 346 Shoe Carnival aggregates and 57 Shoe Station stores, along with 28 recently acquired Rogan’s stores. The new rebranding poke out will make more than half of the company’s fleet Shoe Station locations over the next two years.
Shoe Carnival shares were up uncountable than 1% Thursday morning, and are down more than 30% over the last 12 months.