Shoe Carnival, Inc. (NASDAQ:SCVL) reported third-quarter sales of $297.155 million on Thursday, beating the street view of $296.333 million. Comparable store sales declined 2.7%.

The company said its One Banner Strategy is gaining traction. By banner, Shoe Station delivered 5.3% net sales growth with mid-single-digit comp gains. CEO Mark Worden said Shoe Station’s core customer, with a median household income $60,000-$100,000, is choosing premium products, seeking elevated service, and responding to the company’s brand positioning. 

Shoe Carnival posted a 5.2% sales decline amid continued pressure on lower-income consumers. Worden said the traditional lower-income Shoe Carnival customer remains under economic pressure, prompting intense industry discounting that is pressuring margins.

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He noted the company chose to maintain pricing discipline rather than chase traffic from this segment, which Shoe Carnival is intentionally moving away from. As a result, the retailer expanded product margins and avoided “unprofitable sales.”

Newly acquired Rogan’s contributed over $21 million in net sales, in line with integration expectations.

Gross profit increased to $111.8 million from $110.4 million in the ...