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Shoe Station Group

SHOE
46
Apparel - Retail · Consumer Cyclical
Exchange
NASDAQ Global Market
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through May 2, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Strong
Stability
Exceptional
Valuation
Strong
Dividends
Exceptional

Winston Score History

The full picture

Shoe Carnival is a retail chain that sells shoes for the whole family — men, women, and kids. It carries brands like Nike, Adidas, Skechers, and its own private labels, targeting everyday shoppers who want affordable footwear. The company operates mostly in mid-sized and smaller U.S. cities, positioning itself as a value-oriented alternative to department stores and specialty shoe retailers.

Shoe Carnival makes money by selling shoes directly to customers in its physical stores and through its website. As of recent fiscal periods, it operated around 400 stores across the United States, making it a mid-sized player in a crowded retail space. The company's loyalty program helps bring customers back repeatedly, which is one of its main competitive advantages. The biggest risk it faces is competition from online giants like Amazon and discount retailers, which can undercut prices and pull budget-conscious shoppers away from brick-and-mortar stores.

Score breakdown

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Quality

Profit per sale
Gross Margin
33.3%
Modest — 33.3% gross margin
Profit after running costs
Operating Margin
-2.2%
Losing money on operations — -2.2%
Return on the money invested
ROCE
6.7%
Weak — 6.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-4.4%
Shrinking sales (-4.4% YoY)
Profit growth
EPS YoY
-43.8%
Earnings shrinking (-43.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
1/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
279%
Turns 279% of profit into real cash
Spare cash per sale
FCF Margin
5.5%
Thin free cash flow (5.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.09
Conservative — low debt load (0.09)
Covers its interest
Interest Cover
128.31x
Comfortably covers interest (128.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
11.7x
no trend
Attractive valuation — P/E 11.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+1.3
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
4.12%
no trend
Healthy income — 4.12% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+15.3%
no trend
Dividend growing fast (15.3% YoY)

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