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Shoe Carnival, Inc. Common Stock logo

Shoe Carnival, Inc. Common Stock

SHOE
44
Apparel - Retail · Consumer Cyclical
Price
$15.75
+0.11 (+0.70%)
Market Cap
$427.6M
Exchange
NASDAQ Global Market
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 9, 2026 · filings through May 2, 2026

Share count falling — buybacks

3.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 28.6M (2022) → 27.5M (2026)

Shoe Carnival is a retail chain that sells shoes for the whole family — men, women, and kids. It carries brands like Nike, Adidas, Skechers, and its own private labels, targeting everyday shoppers who want affordable footwear. The company operates mostly in mid-sized and smaller U.S. cities, positioning itself as a value-oriented alternative to department stores and specialty shoe retailers.

Shoe Carnival makes money by selling shoes directly to customers in its physical stores and through its website. As of recent fiscal periods, it operated around 400 stores across the United States, making it a mid-sized player in a crowded retail space. The company's loyalty program helps bring customers back repeatedly, which is one of its main competitive advantages. The biggest risk it faces is competition from online giants like Amazon and discount retailers, which can undercut prices and pull budget-conscious shoppers away from brick-and-mortar stores.

Winston Score History

Score breakdown

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Quality

Gross Margin
33.3%
Modest — 33.3% gross margin
Operating Margin
-2.2%
Losing money on operations — -2.2%
ROCE
-0.8%
Weak — -0.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
-4.4%
Shrinking sales (-4.4% YoY)
EPS YoY
-43.8%
Earnings shrinking (-43.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency
1/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
279%
Turns 279% of profit into real cash
FCF Margin
5.5%
Thin free cash flow (5.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
0.09
Conservative — low debt load (0.09)
Interest Cover
128.31x
Comfortably covers interest (128.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
11.6x
Attractive valuation — P/E 11.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward
+1.2
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield
4.12%
Healthy income — 4.12% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth
+15.3%
Dividend growing fast (15.3% YoY)

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