Shoe Carnival（纳斯达克代码：SCVL）在第四季度财报发布后，周四盘前股价下跌。 公司报告第四季度销售额同比下降6.2%，至2.6294亿美元，未达到分析师预期的2.7421亿美元。 同店销售额在本季度下降6.3%，主要原因是Shoe Carnival在非活动期的持续下滑。 毛利下降8%至9167万美元，利润率收缩70个基点至34.9%。调整后每股收益（EPS）为0.54美元，超出市场预期的0.43美元。 销售、一般及行政费用同比下降2.6%，至7760万美元。经营利润率从7.1%压缩至5.3%，季度经营收入下降29%至1400万美元。 截至2024财年末，公司拥有约1.231亿美元的现金、现金等价物及有价证券，同比增长1190万美元。十二个月的经营现金流总计1.026亿美元。 截至2025年3月20日，公司运营着431家门店，包括346家Shoe Carnival门店、57家Shoe Station门店和28家Rogan’s门店。 2025年3月，公司董事会批准将股息增加11.1%至每股0.15美元，股息将在4月21日支付，股权登记日为4月7日。 截至2025年3月20日，公司在股票回购计划中仍有5000万美元可供未来回购。在2024财年，公司未回购任何股票。 Shoe Carnival表示，自2021年12月收购Shoe Station以来，公司一直在评估客户分析和市场数据，并制定策略以扩展Shoe Station。 今天，公司宣布了一项新的长期战略，计划在未来24个月内将175家门店更名为Shoe Station。 2025财年，公司预计将把50至75家Shoe Carnival门店改为Shoe Station门店。公司预计第一年的投资将导致2025财年EPS约减少0.65美元。 到2027财年，公司预计这些改名门店的净销售额将增长超过10%，利润贡献将增加超过20%。 前景展望： Shoe Carnival预测2025财年每股收益为1.60至2.10美元，包括更名战略的第一年成本，低于市场预期的3.32美元。 Shoe Carnival预计2025财年净销售额为11.5亿至12.3亿美元，低于市场预期的12.4亿美元。这意味着相较于2024财年下跌4%至增长2%。 公司预计2025财年的资本支出为4500万至5000万美元。 价格变动： 截至最后检查时，SCVL股价在周四盘前交易下跌1.28%至22.36美元。

以上内容来自Benzinga Earnings专栏，原文如下：

Shoe Carnival Inc (NASDAQ:SCVL) shares are trading lower in premarket on Thursday after the fourth-quarter earnings result.

The company reported a fourth-quarter sales decline of 6.2% year-on-year to $262.94 million, missing the analyst consensus estimate of $274.21 million.

Comparable store sales declined 6.3% in the quarter, primarily from continued Shoe Carnival declines during nonevent periods.

Gross profit fell 8% to $91.67 million, with the margin contracting 70 basis points to 34.9%. Adjusted EPS of 54 cents beat the consensus estimate of 43 cents.

Selling, general and administrative expenses fell 2.6% Y/Y to $77.6 million. The operating margin compressed from 7.1% to 5.3%, and operating income for the quarter declined 29% to $14 million.

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At the end of fiscal 2024, the company had approximately $123.1 million of cash, cash equivalents and marketable securities, an increase of $11.9 million compared to prior year. Operating cash flow for twelve months totaled $102.6 million.

As of March 20, 2025, the company operated 431 stores, with 346 Shoe Carnival stores, 57 Shoe Station stores and 28 Rogan’s stores.

In March 2025, the company’s Board of Directors approved an 11.1% dividend increase to 15.0 cents per share, payable on April 21, to shareholders of record as of the close of business on April 7. 

As of March 20, 2025, the company has $50 million available for future repurchases under its share repurchase program. During fiscal 2024, the company did not repurchase any shares.

Growth Strategy: Shoe Carnival said it has been evaluating customer analytics and market data and developing strategies to expand Shoe Station since acquiring the chain in December 2021.

Today, the company announced a new long-term strategy to scale up Shoe Station rapidly. The first investment phase is to rebanner 175 stores to the Shoe Station banner over the next 24 months.

During fiscal 2025, the Company expects to rebanner between 50 to 75 Shoe Carnival stores to Shoe Station stores. The company expects the first-year investment to result in an approximate $0.65 decline in fiscal 2025 EPS. 

In fiscal 2027, the company expects that net sales from these rebannered stores to be over 10% higher and profit contribution to increase over 20% compared to the stores before being rebannered.

Outlook: Shoe Carnival sees FY25 EPS of $1.60 – $2.10, including the rebanner strategy’s initial year costs, versus the consensus of $3.32.

Shoe Carnival sees FY25 net sales of $1.15 billion – $1.23 billion versus an estimate of $1.24 billion. This represents a range of down 4% to up 2% versus fiscal 2024.

The company expects FY25 capital expenditure of $45 million – $50 million.

Price Action: SCVL shares traded lower by 1.28% at $22.36 in premarket at last check Thursday.

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