Shoe Carnival Q1 FY26 turns to net loss of $5.6 million; net sales fall 2.5% to $270.7 million

Shoe Carnival, Inc.

Shoe Carnival, Inc.

SCVL

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  • Shoe Carnival swung to a net loss of USD 5.6 million, or USD 0.21 per diluted share, in the quarter ended May 2, 2026.
  • Net sales fell 2.5% to USD 270.7 million, reflecting a 2.1% decline in comparable store net sales.
  • Gross margin narrowed 1.2 percentage points to 33.3% on higher promotional activity, higher merchandise cost, and higher e-commerce shipping costs.
  • SG&A jumped to USD 96.1 million, driven by USD 13.6 million of charges tied to CEO transition costs and a strategic review.
  • The retailer kept 426 stores, plans to close 12 to 14 stores in fiscal 2026, and repurchased 390,492 shares for USD 7 million.


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