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Shoe Carnival Inc. (SCVL-2.08%) has filed its annual report on Form 10-K for the fiscal year ended February 1, 2025. filing
The filing reports net sales of $1.2 billion, a 2.3% increase compared to the prior year. This increase was driven by growth in the Shoe Station banner and the acquisition of Rogan Shoes, adding $80.3 million in sales.
Comparable store net sales decreased by 3.9%, primarily due to a decline in Shoe Carnival stores. E-commerce sales remained stable, representing approximately 10% of total merchandise sales.
Gross profit for the year was $428.8 million, with a gross profit margin of 35.6%, slightly down from 35.8% in the previous year. The decrease was attributed to higher occupancy costs.
Selling, general, and administrative expenses increased by $9.8 million to $337.6 million, mainly due to costs associated with the Rogan's acquisition.
Operating income for the fiscal year was $91.2 million, a decrease of 2.5% from the previous year. The decrease was primarily due to the extra week of sales in the prior year and declines in Shoe Carnival stores.
Net income was $73.8 million, or $2.68 per diluted share, compared to $73.3 million, or $2.68 per diluted share, in the previous year. The slight increase was due to pandemic-related tax credits.
The company ended the fiscal year with no debt and $123.1 million in cash, cash equivalents, and marketable securities.
Shoe Carnival plans to rebanner between 50 to 75 Shoe Carnival stores to Shoe Station stores in Fiscal 2025 as part of a new long-term strategy.
Capital expenditures for Fiscal 2025 are expected to be between $45 million and $60 million, focusing on new store openings, rebanners, and upgrades to the distribution center and e-commerce platform.
The Board of Directors declared a quarterly cash dividend of $0.15 per share, an increase from the previous dividend of $0.135 per share.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Shoe Carnival Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.