Buzz-Shoe Station tumbles after cutting annual profit, sales forecasts
SHOE•Second-quarter sales decline
SHOE posted lower Q2 sales of $284.3 million, compared with $306.4 million a year earlier.
As of the last close, the stock was down 23.4% year to date.
CEO cites assortment mismatch
Sales were impacted by merchandise assortments that were not fully aligned with the customers shopping at stores, CEO said.
Shares fall after guidance cut
- Shares of footwear retailer Shoe Station SHOE.O fell 23.3% to $9.9 in premarket trading.
- The company lowered its FY26 adjusted EPS forecast to between 75 cents and 90 cents, down from a prior outlook of $1.4 to $1.6.
- Shoe Station also slashed its FY26 net sales forecast to between $1.1 billion and $1.11 billion from a previous range of $1.13 billion to $1.15 billion.
