Shoe Station Group, Inc. (SHOE) Q2 FY2026 earnings

Reported results

• Net sales of $284.3 million compared to $306.4 million in Q2 2025; comparable store sales declined 7.1 percent
• Gross profit margin of 31.9 percent compared to 38.8 percent in Q2 2025, a decline of 690 basis points due to increased promotional activity and inventory liquidation
• GAAP net income of $6.3 million or $0.23 per diluted share compared to $19.2 million or $0.70 per diluted share in Q2 2025
• Cash, cash equivalents, and marketable securities of $131.6 million at quarter-end, an increase of $39.7 million compared to Q2 2025; company ended quarter debt-free
• Year-to-date 2026 non-GAAP Adjusted EPS of $0.45 per diluted share compared to GAAP net income of $1.04 per diluted share in year-to-date 2025
• SG&A decreased $10.6 million in Q2 2026 compared to Q2 2025; SG&A as a percent of net sales was 29.2 percent versus 30.6 percent in prior year

Guidance

• Net sales of $1.100 billion to $1.111 billion for Fiscal 2026, representing a decline of approximately 2 to 3 percent versus Fiscal 2025
• GAAP EPS of $0.32 to $0.47 and non-GAAP Adjusted EPS of $0.75 to $0.90 for Fiscal 2026
• Gross profit margin of approximately 32.5 to 32.7 percent for Fiscal 2026, representing approximately 390 to 410 basis points of compression versus Fiscal 2025
• GAAP SG&A approximately flat versus Fiscal 2025 and non-GAAP Adjusted SG&A reduction of approximately $14 million versus Fiscal 2025
• GAAP tax rate of approximately 37 percent and non-GAAP Adjusted Tax Rate of approximately 27 percent for Fiscal 2026
• Comparable store sales for second half of Fiscal 2026 in a range of down 1 percent to up 1 percent

Notes

Company changed its name to Shoe Station Group, Inc. on June 12, 2026 and began trading under ticker SHOE on Nasdaq. Year-to-date 2026 includes $13.6 million of pre-tax non-recurring charges in Q1 2026 related to CEO Transition and Strategic Review, which are excluded from non-GAAP measures. The company’s effective tax rate for year-to-date 2026 was 81.8 percent versus 26.6 percent in year-to-date 2025, with the increase primarily due to non-deductibility of severance paid as part of CEO Transition.

Price and volatility reaction

Source

The figures above come from the earnings release the company filed with the SEC on 2026-09-10 (8-K, Item 2.02). Read the original filing on sec.gov.