Shoe Carnival Announces Preliminary Q3 Net Sales Of $297.2M And EPS Of $0.53, Exceeding Consensus Expectations

Shoe Carnival, Inc. (NASDAQ:SCVL) (the "Company"), a leading retailer of footwear and accessories for the family, today announced that its Board of Directors unanimously voted to change the corporate name to Shoe Station Group, Inc., subject to approval of the name change by the Company's shareholders at the Annual Meeting of Shareholders to be held in June 2026.

Third Quarter Results Reinforce Strategy

The Company's preliminary third quarter Fiscal 2025 results demonstrate the divergent banner performance driving this decision:

• Shoe Station net sales grew 5.3 percent.
• Shoe Station margins expanded 260 basis points.
• Shoe Carnival net sales declined 5.2 percent, reflecting continued pressure on lower-income consumers.
• Third quarter net sales were $297.2 million, exceeding consensus expectations.
• Third quarter diluted earnings per share was $0.53, exceeding consensus expectations.
• Debt-free balance sheet and over $100 million in cash and securities at the end of third quarter Fiscal 2025.

The foregoing results are preliminary and remain subject to the completion of normal quarter end accounting procedures.