Fri, Mar 21, 8:11 PM (37 days ago)
**Shoe Carnival, Inc. (SCVL)** **Financial Performance (Fiscal Year Ended February 1, 2025):** - **Revenue:** $1.2 billion, up 2.3% from the previous year. - **Net Income:** $73.8 million, or $2.68 per diluted share. - **Operating Income:** $91.2 million, a decrease of 2.5%. - **Gross Profit Margin:** 35.6%, a slight decrease from 35.8% in the previous year. - **SG&A Expenses:** $337.6 million, higher by $9.8 million due to incremental costs associated with Rogan’s. **Strategic Overview:** - **Rebanner Strategy:** Plans to rebanner 175 stores to the Shoe Station banner over the next 24 months, aiming to operate 218 Shoe Station stores, representing 51% of the present store fleet. - **Acquisitions:** Acquired Rogan’s, adding 28 stores and positioning as the market leader in Wisconsin. - **E-commerce Growth:** E-commerce sales represented approximately 10% of merchandise sales. **Future Outlook:** - **Store Growth:** Plans to rebanner between 50 to 75 Shoe Carnival stores to Shoe Station stores in Fiscal 2025. - **Capital Expenditures:** Expected to be between $45 million and $60 million in Fiscal 2025. - **Dividends:** Declared a quarterly cash dividend of $0.15 per share for the first quarter of Fiscal 2025. **Risk Factors:** - **Market Competition:** Significant competition in the retail footwear industry. - **Economic Conditions:** Sensitivity to economic downturns and consumer spending. - **Supply Chain:** Dependence on imported merchandise and potential disruptions. - **Cybersecurity:** Risks associated with data breaches and cyberattacks. **Financial Condition:** - **Cash and Cash Equivalents:** $123.1 million. - **Debt:** No debt outstanding. - **Credit Agreement:** $100 million credit agreement with no borrowings outstanding. **Market Position Changes:** - **Store Count:** 430 stores, including 360 Shoe Carnival, 42 Shoe Station, and 28 Rogan’s stores. - **E-commerce Integration:** Continued investment in e-commerce and omnichannel strategies. **Note:** Amounts are usually in thousands.