The earnings call reflected a mixed sentiment. While there were notable successes in specific segments such as Shoe Station and e-commerce, the overall performance was hindered by a decline in sales and EPS below expectations. The company faced significant challenges in seasonal sales, particularly with boot sales, leading to a reduction in full-year guidance.

Company Guidance

During the Shoe Carnival's Q3 2023 earnings call, the company provided guidance reflecting a downward revision in their full-year 2023 sales and EPS outlook due to softer-than-expected late-quarter performance. Sales for Q3 were $319.9 million, a 6.4% decrease year-over-year, with a comparable store sales decline of 7.4%. The company experienced a significant reduction in traffic, down approximately 11%, which was partially offset by a nearly 10% increase in e-commerce net sales. The gross profit margin for the quarter stood at 36.8%, marking the 11th consecutive quarter above 35%, though it was a decrease of 150 basis points compared to Q3 2022. The company is now forecasting full-year net sales of $1.16 billion to $1.18 billion, down from the previous guidance of $1.19 billion to $1.21 billion, and expects comparable store sales to decline by 8.5% to 9.5% for the year, with Q4 comps anticipated to be down 9% to 12%.

Strong Back-to-School Performance

Shoe Carnival achieved the second highest kids category sales in the company's 45-year history during the back-to-school season, with a low single-digit growth in kids categories compared to the previous year.

Shoe Station Segment Growth

Shoe Station reported net sales increasing in the low double digits versus the prior year, with strong margins and accelerating growth driven by new stores and e-commerce.

E-commerce and CRM Expansion

Total e-commerce sales increased approximately 10% in the quarter, and Shoe Station's CRM membership grew in the high teens, reflecting successful digital marketing and CRM strategies.

Improved Gross Profit Margin

Gross profit margin remained strong at 36.8%, marking the 11th consecutive quarter above 35%, with a significant long-term increase over Q3 2019.

Strong Balance Sheet

The company ended the quarter with approximately $71 million in cash and marketable securities, no debt, and increased the shareholder dividend by 20%.

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Shoe Carnival (SCVL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SCVL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 28, 2018	2018 (Q2)	- / 0.38	0.12	216.67% (+0.26)	―	―
Nov 15, 2018	2018 (Q3)	- / 0.38	0.33	15.15% (+0.05)	―	―
Mar 26, 2019	2018 (Q4)	- / 0.04	0.055	-18.18% (-0.01)	―	―
May 22, 2019	2019 (Q1)	- / 0.46	0.415	9.64% (+0.04)	―	―
Aug 28, 2019	2019 (Q2)	- / 0.40	0.38	5.26% (+0.02)	―	―
Nov 21, 2019	2019 (Q3)	- / 0.47	0.38	23.68% (+0.09)	―	―
Mar 25, 2020	2019 (Q4)	- / 0.12	0.045	166.67% (+0.07)	―	―
May 20, 2020	2020 (Q1)	- / -0.58	0.455	-227.47% (-1.03)	―	―
Sep 01, 2020	2020 (Q2)	- / 0.35	0.4	-11.25% (-0.05)	―	―
Nov 18, 2020	2020 (Q3)	- / 0.52	0.47	9.57% (+0.05)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SCVL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 21, 2024	$33.33	$33.70	+1.11%
Sep 05, 2024	$37.26	$40.32	+8.21%
May 23, 2024	$34.01	$35.88	+5.50%
Mar 21, 2024	$32.45	$35.10	+8.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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