Footwear retailer Shoe Carnival (NASDAQ: SCVL) will be announcing earnings results this Thursday morning. Here’s what investors should know.

Shoe Carnival beat analysts’ revenue expectations last quarter, reporting revenues of $297.2 million, down 3.2% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

Is Shoe Carnival a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Shoe Carnival’s revenue to decline 3.4% year on year, improving from the 6.1% decrease it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Shoe Carnival has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Shoe Carnival’s peers in the apparel and footwear retail segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Tilly's delivered year-on-year revenue growth of 5.3%, beating analysts’ expectations by 4.3%, and Victoria's Secret reported revenues up 7.8%, topping estimates by 2%. Tilly's traded up 47.2% following the results while Victoria's Secret was down 22.1%.

Read our full analysis of Tilly’s results here and Victoria's Secret’s results here.

Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the apparel and footwear retail stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 6.4% on average over the last month. Shoe Carnival is down 11.4% during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $18.74).

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