Shoe Station Group falls after earnings miss and cut outlook
-5.03% to $12.28 from $12.93
What moved SHOE
- Net sales for the quarter ended August 1 fell to $284.3 million from $306.4 million a year earlier, below analyst expectations of about $299 million.
- Second-quarter earnings of $0.23 a share came in $0.11 below the $0.34 analyst estimate, down from $0.70 a year earlier.
- Management said increasingly promotional footwear-market conditions forced price cuts and accelerated liquidation of aged inventory, pressuring gross margins.
- The company lowered its full-year 2026 sales and adjusted-earnings forecasts, citing ongoing weakness in the family footwear market.
Sources: Investing.com