<SEC-DOCUMENT>0001174947-17-001014.txt : 20170613
<SEC-HEADER>0001174947-17-001014.hdr.sgml : 20170613
<ACCEPTANCE-DATETIME>20170613163130
ACCESSION NUMBER:		0001174947-17-001014
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170613
DATE AS OF CHANGE:		20170613
EFFECTIVENESS DATE:		20170613

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHOE CARNIVAL INC
		CENTRAL INDEX KEY:			0000895447
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-SHOE STORES [5661]
		IRS NUMBER:				351736614
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0130

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-218694
		FILM NUMBER:		17909203

	BUSINESS ADDRESS:	
		STREET 1:		7500 EAST COLUMBIA STREET
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47715
		BUSINESS PHONE:		8128676471

	MAIL ADDRESS:	
		STREET 1:		7500 EAST COLUMBIA STREET
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47715
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>scvl613s8.htm
<DESCRIPTION>S-8
<TEXT>
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<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">As filed
with the Securities and Exchange Commission on June 13, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="letter-spacing: -0.1pt">&#9;Registration
No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1.5pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Washington,
DC 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>______________________</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>FORM
S&#45;8</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>REGISTRATION
STATEMENT UNDER THE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase; letter-spacing: -0.1pt"><B>Securities
Act of 1933</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>______________________</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>SHOE
CARNIVAL, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Exact
name of Registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Indiana</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(State
        or other jurisdiction of</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">incorporation
        or organization)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P></TD>
    <TD STYLE="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12.5pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>35-1736614</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(I.R.S.
        Employer</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">Identification
        No.)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>7500
        East Columbia Street</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Evansville,
        Indiana</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Address
        of principal executive offices)</FONT></P></TD>
    <TD STYLE="font: 12.5pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>47715</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Zip Code)</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>SHOE
CARNIVAL, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>2017
EQUITY INCENTIVE PLAN</B><BR>
(Full title of the plan)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Clifton
        E. Sifford</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>President
        and Chief Executive Officer</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>7500
        East Columbia Street</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Evansville,
        Indiana 47715</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Name and
        address of agent for service)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>(812)
        867-6471</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">(Telephone
        number, including area code, of agent for service)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt">Copy
        to:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Janelle
        Blankenship</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Faegre
        Baker Daniels LLP</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>600
        E. 96<SUP>th</SUP> Street, Suite 600</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>Indianapolis,
        Indiana 46240</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>(317)
        569-9600</B></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 12.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions
of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging
growth company&#8221; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 50%">Large accelerated filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 50%">Non-accelerated filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Wingdings"></FONT> Smaller reporting company
<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 50%">(Do not check if a smaller reporting company) </TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">Emerging growth company <FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #211D1E">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #211D1E">Section 7(a)(2)(B) of the Securities
Act.</FONT> <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>




<P STYLE="font: 12.5pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Calculation of Registration Fee</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">Title of securities to&nbsp;be&nbsp;registered</FONT></TD>
    <TD STYLE="width: 22%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">Amount to be registered&nbsp;(1)(2)</FONT></TD>
    <TD STYLE="width: 18%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">Proposed maximum offering price per&nbsp;share&nbsp;(3)</FONT></TD>
    <TD STYLE="width: 20%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">Proposed maximum aggregate offering&nbsp;price&nbsp;(3)</FONT></TD>
    <TD STYLE="width: 20%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-right: 6pt; padding-left: 6pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">Amount of registration&nbsp;fee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt double; font: 12.5pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">Common Stock, $0.01 par value per share</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">2,045,643 shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">$20.05</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">$41,015,143</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; border-left: Black 1pt solid; font: 12.5pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.1pt">$4,753.66</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">As described
                                         in the Explanatory Note in this registration statement, the number of shares of common
                                         stock, $0.01 par value per share (&#8220;Common Stock&#8221;) of Shoe Carnival, Inc.
                                         (the &#8220;Registrant&#8221;), registered hereby consists of (a)&nbsp;1,000,000&nbsp;shares
                                         issuable pursuant to the Shoe Carnival, Inc. 2017 Equity Incentive Plan (the &#8220;2017
                                         Plan&#8221;), plus (b)&nbsp;up to 1,045,643&nbsp; shares of Common Stock being registered
                                         to cover shares which were subject to outstanding awards under the 2000 Stock Option
                                         and Incentive Plan, as amended (the &#8220;2000 Plan&#8221;) as of June 13, 2017, the
                                         date that the Registrant&#8217;s shareholders approved the 2017 Plan (the &#8220;Outstanding
                                         Shares&#8221;). The Outstanding Shares will be available for future grants under the
                                         2017 Plan to the extent that, on or after June&nbsp;13, 2017, such awards expire, are
                                         cancelled, are forfeited or are settled for cash.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">Pursuant
                                         to Rule 416 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;),
                                         this registration statement also includes an indeterminate number of additional shares
                                         that become issuable under the 2017 Plan as a result of the anti-dilution and adjustment
                                         provisions described therein by reason of a stock split, stock dividend, recapitalization
                                         or any other similar transaction affected without the receipt of consideration which
                                         results in the increase in the number of the Registrant&#8217;s outstanding shares of
                                         Common Stock.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">(3)</FONT></TD><TD STYLE="text-align: justify; padding-right: 2.7pt"><FONT STYLE="font-size: 9pt">Estimated
                                         solely for the purpose of calculating the amount of the registration fee pursuant to
                                         Rule 457(c) and Rule 457(h) under the Securities Act, based <FONT STYLE="letter-spacing: -0.1pt">on
                                         the average of the high and low sale prices per share of the Registrant&#8217;s Common
                                         Stock on June 7, 2017 as reported on the </FONT>Nasdaq Global Select Market<FONT STYLE="letter-spacing: -0.1pt">.
                                         </FONT></FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>EXPLANATORY
NOTE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The shareholders
of Shoe Carnival, Inc. (the &#8220;Registrant&#8221; or the &#8220;Company&#8221;) approved the Company&#8217;s 2017 Equity Incentive
Plan (the &#8220;2017 Plan&#8221;) on June 13, 2017 (the &#8220;Effective Date&#8221;).&nbsp;&nbsp;The following shares of the
Company&#8217;s common stock, $0.01 par value per share (&#8220;Common Stock&#8221;), are available for issuance under the 2017
Plan: (a) 1,000,000 shares of Common Stock (the &#8220;New Shares&#8221;), and (b) up to 1,045,643 shares of Common Stock which
were subject to outstanding awards under the 2000 Stock Option and Incentive Plan, as amended (the &#8220;2000 Plan&#8221;) as
of the Effective Date (the &#8220;Outstanding Shares&#8221;).&nbsp;&nbsp;The Outstanding Shares will be available for future grants
under the 2017 Plan to the extent that, on or after the Effective Date, such awards expire, are cancelled, are forfeited or are
settled for cash.&nbsp;&nbsp;Upon shareholder approval of the 2017 Plan on the Effective Date, no new awards may be granted under
the 2000 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;The purpose
of this Registration Statement is to register the New Shares and the Outstanding Shares. A post-effective amendment to the Company&#8217;s
Form S-8 filed with the Securities and Exchange Commission (the &#8220;Commission&#8221;) on September 6, 2012 (Registration Statement
No. 333-183748) is being filed contemporaneously with the filing of this Registration Statement to deregister the 266,493 shares
of Common Stock that were previously authorized for issuance under the 2000 Plan and that, as of the Effective Date, were not issued
under the 2000 Plan and were not subject to outstanding awards granted under 2000 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>PART
I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The information
specified in Part I of Form S-8 is not required to be filed with the Commission either as part of this Registration Statement or
as prospectuses or prospectus supplements pursuant to the introductory Note to Part I of Form S-8 and Rule 424 under the Securities
Act of 1933, as amended (the &#8220;Securities Act&#8221;). The information required in the Section 10(a) prospectus is included
in the documents being maintained and delivered by <FONT STYLE="letter-spacing: -0.1pt">the Company </FONT>as required by Part
I of Form S-8 and by Rule 428 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>PART
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Incorporation of Documents by Reference.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">The
following documents of the Company, filed with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the
&#8220;Exchange Act&#8221;) (File No. 000-21360), are, as of their respective dates, incorporated herein by reference and made
a part hereof:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(1)</FONT></TD><TD STYLE="text-align: justify">The Company&#8217;s Annual Report on Form 10-K for the fiscal year ended January 28, 2017 filed
with the Commission on March 29, 2017 (the &#8220;Annual Report&#8221;), including the portions of the Company&#8217;s Definitive
Proxy Statement on Schedule 14A for its 2017 Annual Meeting of Shareholders, filed with the Commission on May 9, 2017, incorporated
by reference into the Annual Report;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The Company&#8217;s Quarterly Report on Form 10-Q for the
fiscal quarter ended April 29, 2017, filed with the Commission on May 31, 2017;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">The Company&#8217;s Current Reports on Form 8-K filed with
the Commission on January 30, 2017 and April 24, 2017; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(4)</FONT></TD><TD STYLE="text-align: justify">The description of the Company&#8217;s Common Stock contained in the Company&#8217;s Registration
Statement on Form 8-A filed pursuant to the Exchange Act, including any amendments or reports filed for the purpose of updating
such description.</TD></TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">All
reports and other documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent
to the date of this Registration Statement and prior to the filing of a post&#45;effective amendment that indicates that all of
the securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated
by reference in and a part of this Registration Statement from the date of filing of such documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Any
statement contained in a document incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified
or superseded for purposes of this Registration Statement to the extent that a statement contained herein or incorporated herein
by reference or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein modifies
or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this Registration Statement. </FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Description of Securities.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Not
applicable. </FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Interests of Named Experts and Counsel.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Not
applicable.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Indemnification of Directors and Officers.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Chapter 37 of the
Indiana Business Corporation Law (the &#8220;IBCL&#8221;) authorizes every Indiana corporation to indemnify its officers and directors
under certain circumstances against liability incurred in connection with any threatened, pending or completed action, suit or
proceeding, whether civil, criminal, administrative or investigative, and whether formal or informal, to which the officers or
directors are made a party because such persons are or were officers or directors of the corporation. An officer or director may
be indemnified where he or she has acted in good faith and, in the case of conduct in the person&#8217;s official capacity with
the corporation, he or she reasonably believed the conduct was in the corporation&#8217;s best interests, and in all other cases,
he or she reasonably believed the conduct was at least not opposed to the best interests of the corporation, and in the case of
criminal proceedings he or she had reasonable cause to believe the conduct was lawful or had no reasonable cause to believe the
conduct was unlawful. Chapter 37 also requires every Indiana corporation to indemnify any of its officers or directors (unless
limited by the articles of incorporation of the corporation) who were wholly successful, on the merits or otherwise, in the defense
of any such proceeding against reasonable expenses incurred in connection with the proceeding. A corporation may also, under certain
circumstances, pay for or reimburse the reasonable expenses incurred by an officer or director who is a party to a proceeding in
advance of final disposition of the proceeding. Chapter 37 states that the indemnification provided for therein is not exclusive
of any other rights to which a person may be entitled under a corporation&#8217;s articles of incorporation, by-laws or resolutions
of the board of directors or shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company&#8217;s
Amended and Restated Articles of Incorporation require that the Company, to the fullest extent permitted by the IBCL, indemnify,
and advance expenses to, each of its now acting and former directors, officers, employees and agents, whenever any such currently
acting or former director, officer, employee or agent is made a party or threatened to be made a party in any action, suit or proceeding
by reason of his or her service as such with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
By-Laws require that the Company, to the fullest extent permitted by the IBCL, indemnify every person (and the estate, heirs and
personal representatives of such person) who is or was a director or officer of the Company or is or was serving at the request
of the Company as a director, officer, employee, partner, trustee, member, manager, agent or fiduciary of another corporation,
partnership, joint venture, trust, employee benefit plan or other organization or entity (an &ldquo;Eligible Person&rdquo;) <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">against
all liability and reasonable expenses incurred by him or her in connection with or resulting from any pending, threatened, or completed claim, action, suit or proceeding and all appeals thereof (whether brought by or in the right of the Company or any other corporation or otherwise), whether civil, criminal, administrative or investigative, formal or informal (a &ldquo;Claim&rdquo;), in which such Eligible Person may become involved, as a party or otherwise, by reason of the fact that he or she is or was an Eligible Person or by reason of any action taken or not taken by him or her in such capacity, if (1) (a) the Claim is terminated, whether on the merits or otherwise, without any finding of liability or guilt against him or her, (b) a court approves, with knowledge of the indemnity provided in the By-Laws, a settlement of the Claim, or (c) a reasonable period of time expires after the making or threatened making of the Claim without the institution of the same, without any payment or promise made to induce a settlement; (2) he or she is determined to have acted in good faith and in a manner he or she reasonably believed to be in, or at least not opposed to, the best interests of the Company; and (3) with respect to any criminal claim, he or she is determined to have had reasonable cause to believe his or her conduct was lawful or had no reasonable cause to believe his or her conduct was unlawful. The Company&rsquo;s By-Laws also provide that, to the fullest extent permitted by the IBCL, expenses incurred by an Eligible Person in defending any Claim must be paid by the Company in advance of the final disposition of such Claim promptly as they are incurred upon receipt of an undertaking by or on behalf of such Eligible Person to repay such amount if he or she is determined not to be entitled to indemnification by the Company.</FONT></p>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As permitted by
the IBCL, the Company maintains a policy of directors&#8217; and officers&#8217; liability insurance, which insures against liabilities
that directors or officers may incur in such capacities, which may include reimbursement of expenses incurred.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 7.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Exemption from Registration Claimed.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Not
Applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 8.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Exhibits.</B></FONT></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><U>Exhibit</U></TD>
    <TD STYLE="text-align: justify"><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">4.1</TD>
    <TD STYLE="text-align: justify; ">Amended and Restated Articles of Incorporation of
    Registrant (incorporated herein by reference to Exhibit 3-A to the Company&rsquo;s Current Report on Form 8-K filed with the
    Commission on June 14, 2013).</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">4.2</TD>
    <TD STYLE="text-align: justify">By-Laws of Registrant, as amended to date (incorporated herein by reference to Exhibit 3-B to the Company&rsquo;s Current
Report on Form 8-K filed with the Commission on June 14, 2013).</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -0.5in"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9;4.3<FONT STYLE="letter-spacing: -0.1pt"></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Shoe Carnival, Inc. 2017 Equity Incentive Plan
                                                                                                        (incorporated herein by reference to Appendix A to the Company&rsquo;s Definitive Proxy Statement on Schedule 14A for its
                                                                                                        2017 Annual Meeting of Shareholders filed with the Commission on May 9, 2017).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">5.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Opinion of Faegre Baker Daniels LLP.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">23.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Consent of Faegre Baker Daniels LLP (contained in Exhibit
5.1 to this Registration Statement).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">23.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Consent of Deloitte &amp; Touche LLP.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">24.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Powers of Attorney (included on the Signature Page of this
Registration Statement).</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="letter-spacing: -0.1pt"><B>Item 9.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Undertakings.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To
file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement<FONT STYLE="letter-spacing: -0.1pt">:
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To
include any prospectus required by Section 10(a)(3) of the Securities Act of 1933<FONT STYLE="letter-spacing: -0.1pt">; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To
reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation
of Registration Fee&#8221; table in the effective registration statement; and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To
include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration Statement<FONT STYLE="letter-spacing: -0.1pt">;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><I>provided</I>,
<I>however</I>, that p</FONT>aragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in
a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant
pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the Registration
Statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>That,
for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof<FONT STYLE="letter-spacing: -0.1pt">; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering<FONT STYLE="letter-spacing: -0.1pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the Registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (and,
where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Securities Exchange
Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
<I>bona fide</I> offering thereof<FONT STYLE="letter-spacing: -0.1pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
</FONT>as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that
in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities
being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act of 1933 and will be governed by the final adjudication of such issue<FONT STYLE="letter-spacing: -0.1pt">.</FONT></P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Pursuant
to the requirements of the Securities Act of 1933, the Company certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S&#45;8 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Evansville, State of Indiana, on June 13, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3.25in"><FONT STYLE="font-variant: small-caps">SHOE CARNIVAL,
INC.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.25in"></TD><TD STYLE="width: 0.25in">By</TD><TD><U>/s/ Clifton E. Sifford&#9;</U><BR>
Clifton E. Sifford<BR>
<I>President and Chief Executive Officer </I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Each
person whose signature appears below hereby authorizes Clifton E. Sifford and W. Kerry Jackson, each with full power of substitution,
to execute in the name and on behalf of such person any amendment to this Registration Statement, including post-effective amendments,
and any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, and to file the same,
with exhibits thereto, and other documents in connection therewith, making such changes in this Registration Statement as the Company
deems appropriate, and appoints each of Clifton E. Sifford and W. Kerry Jackson, each with full power of substitution, attorney-in-fact
to sign any amendment to this Registration Statement, including post-effective amendments, and any subsequent registration statement
filed pursuant to Rule 462(b) under the Securities Act of 1933, and to file the same, with exhibits thereto, and other documents
in connection therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; padding-right: 3pt; padding-left: 3pt; font: 12.5pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Signature</U></B></FONT></TD>
    <TD STYLE="width: 60%; padding-right: 3pt; padding-left: 3pt; font: 12.5pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Title</U></B></FONT></TD>
    <TD STYLE="width: 16%; padding-right: 3pt; padding-left: 3pt; font: 12.5pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Date</U></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ J. Wayne Weaver</FONT></TD>
    <TD STYLE="width: 7%; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 54%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board and Director</FONT></TD>
    <TD STYLE="width: 16%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">J. Wayne Weaver</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Clifton E. Sifford</FONT></TD>
    <TD STYLE="width: 7%; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 54%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President, Chief Executive Officer and Director</FONT></TD>
    <TD STYLE="width: 16%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clifton E. Sifford</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ James A. Aschleman</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James A. Aschleman</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Jeffrey C. Gerstel</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeffrey C. Gerstel</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Andrea R. Guthrie</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andrea R. Guthrie</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Kent A. Kleeberger</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kent A. Kleeberger</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Joseph W. Wood</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joseph W. Wood</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ W. Kerry Jackson</FONT></TD>
    <TD STYLE="width: 7%; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 54%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Executive Vice President - Chief Operating</FONT></TD>
    <TD STYLE="width: 16%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 13, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">W. Kerry Jackson</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and Financial Officer and Treasurer (Principal Financial Officer and Principal Accounting Officer)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: -0.1pt">INDEX TO EXHIBITS</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.1pt"><B>&nbsp;</B></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt"><U>Exhibit</U></TD>
    <TD STYLE="text-align: justify"><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">4.1&#9;</TD>
    <TD STYLE="text-align: justify; ">Amended and Restated Articles of Incorporation of
    Registrant (incorporated herein by reference to Exhibit 3-A to the Company&rsquo;s Current Report on Form 8-K filed with the
    Commission on June 14, 2013).</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">4.2&#9;</TD>
    <TD STYLE="text-align: justify">By-Laws of Registrant, as amended to date (incorporated herein by reference to Exhibit 3-B to the Company&rsquo;s Current
Report on Form 8-K filed with the Commission on June 14, 2013).</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -0.5in"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9;4.3<FONT STYLE="letter-spacing: -0.1pt"></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Shoe Carnival, Inc. 2017 Equity Incentive Plan
                                                                                                        (incorporated herein by reference to Appendix A to the Company&rsquo;s Definitive Proxy Statement on Schedule 14A for its
                                                                                                        2017 Annual Meeting of Shareholders filed with the Commission on May 9, 2017).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">5.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Opinion of Faegre Baker Daniels LLP.</FONT></TD></TR></TABLE>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">23.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Consent of Faegre Baker Daniels LLP (contained in Exhibit
5.1 to this Registration Statement).</FONT></TD></TR></TABLE>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">23.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Consent of Deloitte &amp; Touche LLP.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="letter-spacing: -0.1pt">24.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">Powers of Attorney (included on the Signature Page of this
Registration Statement).</FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>scvl613s8ex5_1.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<BODY>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>EXHIBIT 5.1</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 1pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 1pt; text-align: right"><B>Faegre Baker Daniels LLP</B></P>
        <P STYLE="font: 12.5pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">600
        East 96<SUP>th</SUP> Street </FONT><FONT STYLE="font-family: Wingdings 3; font-size: 4pt">q</FONT> <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Suite
        600</FONT></P>
        <P STYLE="font: 12.5pt Times New Roman, Times, Serif; margin: 0 0 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Indianapolis
        </FONT><FONT STYLE="font-family: Wingdings 3; font-size: 4pt">q</FONT> <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Indiana
        46240-3789</FONT></P>
        <P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right">Phone <B>+1 317 569 9600</B></P>
        <P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right">Fax <B>+1 317 569 4800</B></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><FONT STYLE="font-size: 10pt">June 13, 2017</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><FONT STYLE="font-size: 10pt">Shoe Carnival, Inc.&nbsp;<BR>
7500 East Columbia Street<BR>
Evansville, IN 47715</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re:
<U>Registration Statement on Form S-8 </U></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><FONT STYLE="font-size: 10pt">Ladies and Gentlemen:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;We
have acted as counsel to Shoe Carnival, Inc., an Indiana corporation (the &#8220;Company&#8221;), in connection with the preparation
and filing with the Securities and Exchange Commission (the &#8220;Commission&#8221;) of the Company&#8217;s Registration Statement
on Form S-8 (the &#8220;Registration Statement&#8221;) under the Securities Act of 1933, as amended (the &#8220;Act&#8221;), registering
the offer and sale of up to 2,045,643 shares of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;Shares&#8221;),
which consist of (a) 1,000,000&nbsp;shares issuable pursuant to the Shoe Carnival, Inc. 2017 Equity Incentive Plan (the &#8220;Plan&#8221;),
plus (b)&nbsp;up to 1,045,643&nbsp;shares of Common Stock that were subject to outstanding awards under the Shoe Carnival, Inc.
2000 Stock Option and Incentive Plan, as amended, as of June 13, 2017, which shares will be available for future grants under
the Plan to the extent that, on or after June&nbsp;13, 2017, such awards expire, are cancelled, are forfeited or are settled for
cash.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">For
purposes of this opinion letter, we have examined the Plan, the Registration Statement, the Amended and Restated Articles of Incorporation,
as currently in effect, and the By-laws, as currently in effect, of the Company, and the resolutions of the Company&#8217;s Board
of Directors authorizing the issuance of the Shares. We have also examined a certificate of the Secretary of the Company dated
the date hereof (the &#8220;Certificate&#8221;) and originals, or copies certified or otherwise authenticated to our satisfaction,
of such corporate and other records, agreements, instruments, certificates of public officials and documents as we have deemed
necessary as a basis for the opinions hereinafter expressed and have made such examination of statutes and decisions and reviewed
such questions of law as we have deemed relevant and necessary in connection with the opinions hereinafter expressed. As to facts
material to this opinion letter, we have relied upon certificates, statements or representations of public officials, of officers
and representatives of the Company (including the Certificate) and of others, without any independent verification thereof.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.25in; background-color: white"><FONT STYLE="font-size: 10pt">In
our examination, we have assumed: (i)&nbsp;the legal capacity of all natural persons; (ii)&nbsp;the genuineness of all signatures;
(iii)&nbsp;the authenticity of all documents submitted to us as originals; (iv)&nbsp;the conformity to original documents of all
documents submitted to us as certified, conformed, photostatic or facsimile copies; (v)&nbsp;the authenticity of the originals
of such latter documents; (vi)&nbsp;the truth, accuracy and completeness of the information, representations and warranties contained
in the records, documents,</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><FONT STYLE="font-size: 10pt">instruments,
certificates and records we have reviewed; and (vii)&nbsp;the absence of any undisclosed modifications to the agreements and instruments
reviewed by us. We have also assumed that the Company&#8217;s board of directors, or a duly authorized committee thereof, will
have approved the issuance of each award under the Plan prior to the issuance thereof.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in; background-color: white"><FONT STYLE="font-size: 10pt">Based
on and subject to the foregoing and to the other qualifications, assumptions and limitations set forth herein, we are of the opinion
that all necessary corporate action on the part of the Company has been taken to authorize the issuance and sale of the Shares
to be issued in accordance with the Plan and that, when (a) the Registration Statement shall have become effective, (b) the Shares
have been issued and sold as contemplated in the Registration Statement and related prospectus and in accordance with the Plan
and any applicable award agreement, and (c) where applicable, the consideration for the Shares specified in the Plan and any applicable
award agreement has been received by the Company, the Shares will be validly issued, fully paid and nonassessable.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">We
do not express any opinion herein with respect to the laws of any jurisdiction other than, subject to the limitations and assumptions
contained herein, the laws of the State of Indiana.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">This
opinion speaks only as of the date the Registration Statement becomes effective under the Act, and we assume no obligation to
revise or supplement this opinion thereafter. This opinion is limited to the specific issues addressed herein, and no opinion
may be inferred or implied beyond that expressly stated herein.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">We
hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby
admit that we are within the category of persons whose consent is required under Section&nbsp;7 of the Act or the rules and regulations
of the Commission thereunder.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Yours very truly,</FONT></TD></TR>
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    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 25pc"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">FAEGRE <FONT STYLE="font-size: 10pt">BAKER DANIELS LLP</FONT></TD></TR>
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    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 25pc; text-align: right"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt"><U>/s/ Janelle Blankenship
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;</U></FONT></TD></TR>
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    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 25pc"></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Janelle Blankenship, Partner</FONT></TD></TR>
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<BODY><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><B>EXHIBIT 23.2</B></P>

<P STYLE="font: 10pt/120% inherit,serif; margin: 0; text-align: center"><B>Consent of Independent Registered Public Accounting
Firm</B></P>

<P STYLE="font: 10pt/120% inherit,serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/120% inherit,serif; margin: 0; text-align: justify">We consent to the incorporation by reference in this
Registration Statement on Form S-8 of our reports relating to the financial statements of Shoe Carnival, Inc. and the effectiveness
of Shoe Carnival, Inc.'s internal control over financial reporting dated March 29, 2017, appearing in the Annual Report on Form
10-K of Shoe Carnival, Inc. for the year ended January 28, 2017.&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0">/s/ DELOITTE &amp; TOUCHE LLP</P>

<P STYLE="font: 10pt/120% inherit,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/120% inherit,serif; margin: 0">Indianapolis, Indiana</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0">June 13, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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