Shoe Carnival Inc falls after downbeat annual forecasts, quarterly results

Footwear retailer Shoe Carnival's SCVL.O shares fall 16% to $19.02 premarket

Company forecasts net sales and profit for fiscal 2025 largely below what it reported for 2024

Q4 sales fall 6.1% from a year earlier and adjusted EPS down 8.5%

Company says Q4 comparable store sales decline of 6.3% due to weak demand

Company plans to rename Shoe Carnival stores to Shoe Station stores; sees 50 to 75 stores being rebranded in fiscal 2025, leading to an expected decline of 65 cents in annual profit on related costs

Shoe Carnival's shares down 31.5% YTD, as of last close