Shoe Carnival, Inc. reported strong third-quarter results with EPS of $0.53 and net sales of $297.2 million, exceeding expectations.
Key highlight: Shoe Station net sales grew 5.3% with a 260 basis point margin expansion.
The company is moving towards consolidating to one brand and expects significant cost savings and improved working capital.
EPS and Net Sales Exceeded Expectations
EPS of $0.53 and net sales of $297.2 million surpassed consensus estimates.
Progress with Shoe Station
Shoe Station reported a 5.3% sales growth and a 260 basis point margin expansion.
Transition to One Brand
Consolidating to one brand to unlock $20 million in savings and $100 million in working capital.
Fiscal 2025 Outlook Update
Reaffirmed net sales outlook, updated EPS outlook to $1.80-$2.10 per share.
Debt-Free Balance Sheet
Ended the third quarter debt-free with cash, cash equivalents, and marketable securities of $107.7 million.
- The Company's focus on the One Banner Strategy, particularly Shoe Station, has shown positive results with sales growth and margin expansion.
- The transition to one brand is expected to drive cost savings and enhance working capital, supporting future growth initiatives.
Shoe Carnival's strong performance in the third quarter and progress towards a consolidated brand strategy position it for future success and growth opportunities.