Shoe Carnival Reports First Quarter 2026 Results

Shoe Carnival reported first quarter 2026 results with net sales of $270.7 million, a decrease from $277.7 million in the prior year quarter. The company experienced a decline in net sales for both its Shoe Carnival and Shoe Station banners. Gross profit margin was 33.3%, down from 34.5% in the previous year. The company reported a GAAP diluted loss per share of $(0.21), but an adjusted diluted earnings per share of $0.23, which excluded charges related to a CEO transition and a strategic review. These charges amounted to $13.6 million pre-tax. Shoe Carnival ended the quarter with $129.3 million in cash and cash equivalents and no debt. The company repurchased approximately $7.0 million of its common stock during the quarter. Shoe Carnival is reaffirming its Fiscal 2026 guidance, expecting net sales between $1.125 billion and $1.147 billion and Adjusted EPS between $1.40 and $1.60.