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FORT MILL, S.C. - On Friday, Shoe Carnival Inc. (NASDAQ:SCVL) reported first quarter earnings that beat analyst expectations, despite a decline in sales.
The footwear retailer saw its shares jump 11.39% in pre-market trading following the release.
The company posted Q1 earnings per share of $0.34, surpassing the analyst consensus estimate of $0.30. Revenue for the quarter came in at $277.7 million, down 7.5% YoY from $300.4 million, and below the $284.91 million analysts were expecting.
Shoe Carnival’s Shoe Station banner delivered 4.9% net sales growth, driven by double-digit comparable store sales increases from its rebanner strategy. However, this was offset by a 10% sales decline in the Shoe Carnival banner.
"Our first quarter results reflect the continued success of our strategic transformation, with profits outperforming expectations by approximately 10 percent despite the challenging macroeconomic and retail environment," said CEO Mark Worden.
The company reaffirmed its full-year 2025 outlook, projecting EPS of $1.60-$2.10 on revenue of $1.15-1.23 billion.
Shoe Carnival also announced an acceleration of its rebanner strategy, now expecting Shoe Station to represent over 80% of its store fleet by March 2027, up from a previous target of 51%.
As of May 3, 2025, the company operated 429 stores across its Shoe Carnival, Shoe Station and Rogan’s banners. It ended the quarter with no debt and over 30% more cash on hand compared to Q1 2024.
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