Shoe Carnival Inc. reported third quarter 2025 net sales of $297.2 million, exceeding consensus expectations but down from $306.9 million in the third quarter of 2024. Earnings per share were $0.53. Comparable store sales declined 2.7 percent. By banner, Shoe Station net sales grew 5.3 percent with product margins expanding 260 basis points, while Shoe Carnival net sales declined 5.2 percent and comparable store sales were down mid-single digits. Rogan's contributed over $21 million in net sales. Gross profit margin increased to 37.6 percent, up 160 basis points from the prior year. The company reaffirmed its fiscal 2025 outlook and continues to progress toward a simplified structure, with over 90 percent of its fleet expected to operate as Shoe Station before the end of fiscal 2028.