Shoe Carnival Renames to Shoe Station Group, Ticker Changes to SHOE
SCVL•Shareholders approved renaming Shoe Carnival, Inc. to Shoe Station Group, Inc., with Nasdaq symbol SHOE effective June 12. The company paused aggressive store rebanner conversions after converting 144 locations (34% of its 426 stores) and plans 21 more in the first half of fiscal 2026.
1. Official Name and Ticker Change
Shoe Carnival, Inc. officially changed its corporate name to Shoe Station Group, Inc., effective June 12. The company’s common stock will begin trading on Nasdaq under the symbol SHOE following market close on June 11.
2. Store Conversion Strategy
Since acquiring Shoe Station for $67 million in 2021, the company completed 101 rebanners in fiscal 2025 and converted 144 stores total, representing 34% of its 426-store fleet. Management now plans to rebanner approximately 21 additional stores in the first half of fiscal 2026 while evaluating performance.
3. Management Commentary
Interim CEO Cliff Sifford stated that the new name and ticker reflect the multi-banner strategy, with Shoe Station as the primary growth vehicle and Shoe Carnival continuing in its strongest markets. He also highlighted ongoing pursuits of strategic acquisitions in the footwear retail sector.
4. First Quarter Performance
For the quarter ended May 2, the company reported a net loss of $5.6 million on revenue of $270.7 million, compared with net income of $9.3 million on revenue of $277.7 million in the prior-year period. This result underscores the company’s cautious approach to its rebanner program moving forward.
