Shoe Carnival Announces CEO Transition and Full Year Fiscal 2025 Preliminary Results (Form 8-K)

Shoe Carnival Announces CEO Transition and Full Year Fiscal 2025 Preliminary Results

February 25, 2026

FOR IMMEDIATE RELEASE

Cliff Sifford, Former CEO and Current Vice Chairman of the Board, Appointed Interim President and CEO

FORT MILL, SC - Shoe Carnival, Inc. (Nasdaq: SCVL), a leading retailer of footwear and accessories for the family, announced today that Cliff Sifford, the Company's current Vice Chairman of the Board, has been named the Interim President and Chief Executive Officer of the Company, effective February 24, 2026. Mr. Sifford succeeds Mark Worden, who departed from his position as the Company's President and Chief Executive Officer and resigned as a member of the Board of Directors, effective February 24, 2026. The Company will commence a search for a permanent successor.

Mr. Sifford has served as the Vice Chairman of the Board of the Company since October 2021 and served as Vice Chairman of the Board and Chief Executive Officer from September 2019 until September 2021. Mr. Sifford also served as President and Chief Executive Officer of the Company from October 2012 to September 2019. Mr. Sifford has been with the Company since 1997.

"We're grateful for Mark's many contributions throughout his career at Shoe Carnival and wish him all the best," said Charlie Tomm, Lead Independent Director on the Company's Board of Directors. "As we look to the next chapter in Shoe Carnival's transformation and growth, we're excited to welcome Cliff back to the CEO role. The Board believes that Cliff's proven leadership, coupled with his years of experience with Shoe Carnival and his vast knowledge of the business, make him the right person to lead Shoe Carnival as we execute our strategic plan."

"I am honored to be named Interim President and Chief Executive Officer to help lead Shoe Carnival through its next phase of growth," commented Cliff Sifford. "I look forward to working with the rest of the executive team and the Board as we seek to become the nation's leading family footwear retailer."

Fiscal 2025 Preliminary Results

For the fiscal year ended January 31, 2026 ("Fiscal 2025"), the Company's net sales were $1.135 billion. Diluted earnings per share for Fiscal 2025 are expected to be $1.90, which is $0.03 higher than consensus expectations.

The Company ended Fiscal 2025 with over $130 million of cash, cash equivalents and marketable securities on hand. Fiscal 2025 marks the 21st consecutive year the Company ended the year with no debt, fully funding operations and its rebanner strategy with cash on hand.

The foregoing expected results are preliminary and remain subject to the completion of normal quarter and year-end accounting and auditing procedures and closing adjustments.

About Shoe Carnival

Shoe Carnival, Inc. is one of the nation's largest family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of February 25, 2026, the Company operated 426 stores in 35 states and Puerto Rico under its Shoe Carnival and Shoe Station banners and offers shopping at www.shoecarnival.com and www.shoestation.com. Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL.

Press releases and annual reports are available on the Company's website at www.shoecarnival.com.

Contact Information

W. Kerry Jackson

Chief Financial Officer

(812) 867-4034

[email protected]

www.shoecarnival.com

(812) 867-6471