EVANSVILLE, Ind. - Shoe Carnival , Inc. (NASDAQ:SCVL), a prominent family footwear retailer, has declared a quarterly cash dividend of $0.135 per share, to be distributed on October 21, 2024, to shareholders on record as of October 7, 2024. This announcement, made today, marks the company's 50th consecutive quarterly dividend, underscoring its commitment to delivering shareholder value.
The company's President and Chief Executive Officer, Mark Worden, highlighted Shoe Carnival (NYSE:CCL)'s robust cash flow and liquidity management, which have allowed the company to operate debt-free. Worden expressed confidence in the company's ability to continue enhancing shareholder returns and in pursuing its long-term goal of becoming the leading family footwear retailer in the nation.
Shoe Carnival's future dividend payments will be subject to the Board of Directors' approval and will depend on various factors, including the company’s operational results, financial health, and business conditions.
Operating 430 stores across 36 states and Puerto Rico, Shoe Carnival has established itself as one of the nation's largest family footwear chains. It offers a wide selection of dress, casual, and athletic shoes, primarily from recognized national brands. The company also operates e-commerce platforms through its websites, providing consumers with an omnichannel shopping experience.
While the company is optimistic about its growth and operational strategies, it acknowledges that forward-looking statements involve risks and uncertainties. These include the ability to manage costs and labor needs in a challenging economic environment, competition, the impact of economic downturns, and the company's ability to execute its growth strategies effectively.
Investors are advised that the information in this article is based on a press release statement from Shoe Carnival, Inc. and should consider the various risks and uncertainties associated with the company's forward-looking statements.
In other recent news, Shoe Carnival reported a significant 12.9% increase in net sales for the second quarter of 2024, reaching $332.7 million. This robust performance was largely attributed to the company's successful back-to-school season. As a result of these positive outcomes, the company has raised its annual sales and earnings per share (EPS) guidance ranges.
The integration of Rogan's Shoes and the testing of a new banner switch strategy have also contributed to Shoe Carnival's recent success. The company now anticipates full-year net sales to be between $1.23 billion and $1.25 billion, with GAAP EPS forecasted between $2.55 and $2.70.
Despite these promising results, Shoe Carnival acknowledges potential uncertainties, such as shifts in customer buying behavior outside of event periods and the impact of the upcoming election cycle. However, the company remains confident in its digital-first marketing strategy and its ability to acquire and retain customers, particularly in the children's segment.
InvestingPro Insights
Shoe Carnival, Inc. (NASDAQ:SCVL) continues to demonstrate a strong commitment to shareholder returns, not only through its consistent dividend payments but also through its financial performance. According to InvestingPro, Shoe Carnival has raised its dividend for 10 consecutive years. This aligns with the company's latest dividend announcement and reflects a disciplined approach to capital allocation.
The company's stock price has also experienced a significant return over the last week, with a 10.41% price total return, showcasing investor confidence in Shoe Carnival's market position and future prospects. This is further supported by the fact that two analysts have revised their earnings upwards for the upcoming period, indicating potential growth and profitability.
On the financial side, Shoe Carnival boasts a market capitalization of $1.19 billion, a testament to its scale and stability in the retail sector. Its Price/Earnings (P/E) ratio stands at a reasonable 15.42, suggesting that the stock could be attractively valued relative to its earnings. Moreover, the company has maintained a solid revenue growth rate of 2.06% over the last twelve months as of Q2 2025, which is a positive indicator of its operational efficiency and market demand for its products.
For investors looking for more detailed analysis and additional insights, InvestingPro offers a comprehensive list of tips, including those related to Shoe Carnival's cash flow management and stock price movements. There are 16 additional InvestingPro Tips available, providing a deeper dive into the company's financial health and market performance.
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