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May 03
Shoe Carnival Q1 2025 Earnings Report
Shoe Carnival reported results for the first quarter ended May 3, 2025.
Key Takeaways
Shoe Carnival reported a decrease in net sales and net income in the first quarter of fiscal 2025 compared to the previous year. However, profits outperformed market expectations, and the company is accelerating its Shoe Station rebanner strategy, which showed double-digit comparable net sales growth.
First quarter profits outperformed market expectations by over 10 percent with $0.34 EPS achieved.
The Shoe Station banner delivered double-digit comparable net sales growth and accretive margins.
The company is accelerating its rebanner strategy, expecting over 80 percent of the store fleet to be Shoe Station by March 2027.
The balance sheet strengthened with no debt and over 30 percent additional cash on hand compared to the first quarter of 2024.
Shoe Carnival
Shoe Carnival
Shoe Carnival Revenue by Segment
Revenue by Segment
Rogan’s Revenue
CapyFin.com Forward Guidance
Shoe Carnival reaffirmed its Fiscal 2025 outlook based on first quarter EPS exceeding market expectations, rebanner strategy momentum, and some improvement in macroeconomic uncertainties.
Positive Outlook
- Expected net sales between $1.15 billion and $1.23 billion, a range of down 4 percent to up 2 percent versus Fiscal 2024.
- Expected GAAP EPS between $1.60 and $2.10.
- Expected Gross Profit Margin between 35 percent and 36 percent.
- Expected Capital Expenditures between $45 million and $60 million.
- Accelerated rebanner strategy with approximately 120 stores expected to operate as Shoe Station by the end of Fiscal 2025.
Challenges Ahead
- Fiscal 2025 rebanner investment is expected to impact operating income in a range of $20 million to $25 million.
- Fiscal 2025 rebanner investment is expected to result in an approximate $0.65 decline in Fiscal 2025 EPS.
- Recovery of the first-year rebanner investment is expected over a two-to-three-year period following a store's grand opening.
- Expected SG&A between $350 million and $360 million.
- Overall comparable stores net sales growth is not expected until the third quarter of Fiscal 2026.