Shoe Carnival to become Shoe Station Group; Q3 sales, EPS beat consensus

SHOE CARNIVAL INC

Board approved name change to Shoe Station Group, subject to shareholder vote in June 2026.
Banner consolidation by FY2028: ~90% of fleet as Shoe Station; 100 rebanners in FY2025.
Expects $20M annual cost savings and 20-25% inventory reduction by end FY2027.
Preliminary Q3 net sales $297.2M, diluted EPS $0.53, both above consensus.
Shoe Station sales +5.3%, margins +260bps; Shoe Carnival sales -5.2%; company debt-free with >$100M cash.

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