Shares climbed after the retailer reported narrowing sales declines and outlined plans to optimize its two banners independently.
Shoe Carnival Inc. shares rose nearly 1.5 percent in pre-market trading, reaching $16.00, after first-quarter results showed improvement from year-ago levels. The company’s return to a debt-free position and a $417.2 million merchandise inventory, down $11.2 million year-over-year, supported the gains.
The retailer’s CEO, Cliff Sifford, highlighted narrowing sales declines at the Shoe Carnival banner compared to fiscal 2025 trends. Analysts’ consensus expectations were met, with growth opportunities identified for the Shoe Station banner through store expansions and rebranding efforts.
Shoe Carnival projected inventory reductions of $50 million to $65 million by the end of fiscal 2026, reinforcing its strategic focus on operational efficiency.