Shoe Carnival Q1 Sales $249.9M, Acquires Rogan Shoes

TL;DR

Shoe Carnival Q1 sales hit $249.9M, bought Rogan Shoes. Big moves ahead!

AI Summary

Shoe Carnival Inc. reported its first quarter results for the period ending May 4, 2024. The company's net sales for the quarter were $249.9 million. During the quarter, Shoe Carnival acquired Rogan Shoes Incorporated on February 13, 2024, which is expected to contribute to future growth.

Why It Matters

The acquisition of Rogan Shoes could expand Shoe Carnival's market presence and product offerings, potentially impacting future revenue streams and competitive positioning.

Risk Assessment

Risk Level: medium — The company faces risks related to competition, economic conditions, and the successful integration of its recent acquisition.

Key Numbers

• $249.9M — Net Sales (First quarter ended May 4, 2024)
• 2024-05-04 — Reporting Period End Date (End of the first fiscal quarter)
• 2024-02-13 — Acquisition Date (Rogan Shoes Incorporated acquisition)

Key Players & Entities

• Shoe Carnival Inc. (company) — Filer
• Rogan Shoes Incorporated (company) — Acquired entity
• $249.9 million (dollar_amount) — Q1 2024 Net Sales
• May 4, 2024 (date) — End of Q1 2024 reporting period
• February 13, 2024 (date) — Acquisition date of Rogan Shoes

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share SCVL The Nasdaq Stock Mar

Filing Documents

• scvl-20240504.htm (10-Q) — 1122KB
• scvl-ex31_1.htm (EX-31.1) — 13KB
• scvl-ex31_2.htm (EX-31.2) — 13KB
• scvl-ex32_1.htm (EX-32.1) — 7KB
• scvl-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-070218.txt ( ) — 4972KB
• scvl-20240504.xsd (EX-101.SCH) — 696KB
• scvl-20240504_htm.xml (XML) — 866KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20 Part II Other Information Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 5. Other Information 21 Item 6. Exhibits 21 Signature 22 2 SHOE CARNIVAL, INC.

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SHOE CARNIVAL, INC. CONDENSED CONSOLID ATED BALANCE SHEETS Unaudited (In thousands, except share data) May 4, 2024 February 3, 2024 April 29, 2023 Assets Current Assets: Cash and cash equivalents $ 56,919 $ 99,000 $ 32,587 Marketable securities 12,555 12,247 11,535 Accounts receivable 5,868 2,593 3,084 Merchandise inventories 411,619 346,442 389,508 Other 17,992 21,056 16,836 Total Current Assets 504,953 481,338 453,550 Property and equipment – net 172,182 168,613 150,487 Operating lease right-of-use assets 345,881 333,851 312,760 Intangible assets 41,001 32,600 32,600 Goodwill 15,223 12,023 12,023 Other noncurrent assets 13,342 13,600 15,209 Total Assets $ 1,092,582 $ 1,042,025 $ 976,629 Liabilities and Shareholders' Equity Current Liabilities: Accounts payable $ 71,234 $ 58,274 $ 55,853 Accrued and other liabilities 21,938 16,620 21,314 Current portion of operating lease liabilities 56,025 52,981 58,077 Total Current Liabilities 149,197 127,875 135,244 Long-term portion of operating lease liabilities 313,302 301,355 279,168 Deferred income taxes 15,999 17,341 14,526 Deferred compensation 12,157 11,639 9,809 Other 4,123 426 202 Total Liabilities 494,778 458,636 438,949 Shareholders' Equity: Common stock, $ 0.01 par value, 50,000,000 shares authorized and 41,049,190 shares issued in each period, respectively 410 410 410 Additional paid-in capital 84,576 83,738 80,361 Retained earnings 728,175 714,647 667,196 Treasury stock, at cost, 13,890,868 shares, 13,919,326 shares and 13,713,595 shares, respectively ( 215,357 ) ( 215,406 ) ( 210,287 ) Total Shareholders' Equity 597,804 583,389 537,680 Total Liabilities and Shareholders' Equity $ 1,092,582 $ 1,042,025 $ 976,629 See

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View this 10-Q filing on SEC EDGAR