Family footwear retailer Shoe Carnival Inc. (SCVL) Thursday issued cautious outlook for fiscal 2026 after reporting weak fourth-quarter earnings and comparable store sales.
Looking ahead for fiscal 2026, the company projects adjusted earnings per share in a range of $1.40 to $1.60, and net sales to be around down 1 percent to up 1 percent compared to fiscal 2025.
In fiscal 2025, earnings per share were $1.90, and net sales were $1.135 billion, with comparable store sales decline of 5.6 percent.
The outlook reflects comparable store sales declines in the first half offset by improvement in the second half as 21 planned rebanners are completed and Shoe Station's growth continues.
Shoe Carnival expects the first half of fiscal 2026 to be more challenging, with comparable store sales improvement and the benefit of completed rebanners expected to contribute to better results in the second half of the year.
Further, the firm said its Board of Directors approved a quarterly dividend increase to $0.17 per share, payable April 20 to shareholders of record as of April 6.
The company's decision to change the corporate name to Shoe Station Group, Inc., is subject to shareholder approval at the Annual Meeting of Shareholders in June.
In the fourth quarter, Shoe Carnival's net earnings totaled $9.06 million or $0.33 per share, compared to $14.67 million or $0.53 per share last year.
The company's revenue for the period fell 3.4 percent to $254.07 million from $262.94 million last year.
Comparable store sales declined 3.5 percent.
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