Shoe Carnival Reports Third Quarter Fiscal 2024 Results
-
Achieved EPS expectations with third quarter 2024 GAAP EPS of
and Adjusted EPS of$0.70 .$0.71 - Achieved year-to-date 2024 net sales growth of 4.9 percent versus prior year.
- Reiterated EPS guidance for full year Fiscal 2024.
- Expanded store rebannering test to 25 additional stores in the first half of Fiscal 2025.
“Our Back-to-School results were strong, with comparable store sales growth across our banners and robust margins. Our flexible digital-first marketing campaign and great brand assortment drove demand during this peak shopping period and profitability in line with expectations for the third quarter. I am very proud of our team for delivering the Company’s profit results despite two significant hurricanes disrupting third quarter sales and a very warm October that delayed the start of our winter boot season,” said Mark Worden, President and Chief Executive Officer.
“During the quarter, we also accelerated testing of our store rebanner growth strategy with the addition of seven stores, bringing the total number of rebannered stores from Shoe Carnival to Shoe Station to ten this year. Early results exceeded our sales and profit success criteria, encouraging the team to expand the rebanner test to an additional 25 stores during the first half of 2025 as part of our long-term vision to be the nation’s leading family footwear retailer,” concluded Mr. Worden.
Third Quarter Operating Results
Net sales in third quarter 2024 were
Net sales in the quarter were led by a strong Back-to-School performance, comparable store net sales growth in August, and net sales from the February 2024 acquisition of Rogan Shoes, Incorporated (“Rogan’s”). Comparable store net sales in September and October were significantly impacted by two hurricanes that disrupted many of the Company’s store operations and customer shopping trends, along with persistently warm weather that delayed the winter boot shopping season. Comparable store net sales for the thirteen-week period ended November 2, 2024 declined 4.1 percent compared to the thirteen-week period ended November 4, 2023.
Gross profit margin in third quarter 2024 was 36.0 percent, marking the 15th consecutive quarter the Company’s gross profit margin exceeded 35 percent. Gross profit margin was lower in the quarter by 80 basis points compared to prior year primarily due to buying, distribution and occupancy costs (“BD&O”) from operating more stores and the deleveraging effect of lower net sales in the quarter, as impacted by the retail calendar shift. Year-to-date 2024 gross profit margin was flat versus prior year.
As a percent of net sales, SG&A expenses in the quarter were 28.0 percent compared to 28.1 percent in prior year, reflecting 10 basis points of leverage, on the lower, shifted sales base. The decrease in SG&A expenses was due primarily to lower selling costs at Shoe Carnival and Shoe Station banner stores, which in the quarter more than offset the costs of operating the recently acquired Rogan’s stores. During third quarter 2024, the Company captured synergies within Rogan’s and is ahead of schedule on integrating the acquired operations.
Third quarter 2024 operating income totaled
Third quarter 2024 net income was in line with the Company’s expectation at
Third quarter 2024 GAAP results included
Rogan’s Acquisition
The Company continues to expect the Rogan’s acquisition to deliver net sales of over
Store Count and Rebanner Growth Strategy
As of November 21, 2024, the Company operated 431 stores, with 361 Shoe Carnival stores, 42 Shoe Station stores and the 28 Rogan’s locations. One new Shoe Station store opened in third quarter 2024 in
The Company advanced its store rebanner growth strategy during the quarter, with seven Shoe Carnival stores being rebannered to Shoe Station stores. Ten stores have now been rebannered. Through third quarter 2024, rebannered stores have outperformed expectations. Stores with more than one fiscal month of operating history have experienced both a net sales increase and store-level profitability increase of over 10 percent. Based on the successful results of the strategy to date, the Company plans to rebanner 25 additional Shoe Carnival stores to Shoe Station stores in the first half of Fiscal 2025.
Share Repurchase Program
As of November 21, 2024, the Company had
Capital Management and Cash Flow
The 2023 fiscal year end marked the 19th consecutive year the Company ended a year with no debt, and through third quarter 2024, the Company continued funding its operations and growth investments from operating cash flow and without debt.
At the end of third quarter 2024, the Company had approximately
Fiscal 2024 Outlook
Based on year-to-date results, including third quarter profitability in line with the Company’s expectation and net sales lower than the Company’s expectation, the Company is providing guidance ranges as follows:
Net Sales: Updated range to
Gross Profit Margin: Expected to be approximately even with Fiscal 2023. (No change)
Selling, General and Administrative Expenses (“SG&A”): As a percent of net sales, SG&A is expected to be approximately 30 basis points higher than Fiscal 2023. (Previous guidance approximately 40 basis points higher than Fiscal 2023)
Income Tax Rate: Expected to be approximately 25.6 percent to 26 percent in Fiscal 2024. (Prior guidance approximately 26 percent)
GAAP EPS: Expected to be in a range of
Non-GAAP EPS (“Adjusted EPS”): Expected to be in a range of
The Company notes that its Fiscal 2024 is a 52-week year and compares to a 53-week year in Fiscal 2023 and, combined with the impact of the retail calendar shift versus prior year, results in the loss of approximately
Conference Call
Today, at 9:00 a.m. Eastern Time, the Company will host a conference call to discuss its third quarter results. Participants can listen to the live webcast of the call by visiting Shoe Carnival's Investors webpage at www.shoecarnival.com. While the question-and-answer session will be available to all listeners, questions from the audience will be limited to institutional analysts and investors. A replay of the webcast will be available on the Company’s website beginning approximately two hours after the conclusion of the conference call and will be archived for one year.
Non-GAAP Financial Measures
The non-GAAP adjusted results for third quarter 2024 and in the Fiscal 2024 outlook discussed herein exclude purchase accounting impacts associated with the Company’s acquisition of Rogan’s. These impacts include the amortization expense included in cost of sales associated with the fair value adjustment to acquisition inventory and expenses included in SG&A related to deal formation and legal and accounting advice and purchase accounting and integration expenses. These adjusted results are provided to enhance the user's overall understanding of the Company's historical operations and financial performance and future projections. Specifically, the Company believes the adjusted results provide investors with relevant comparisons of the Company’s core operations. Unaudited adjusted results are provided in addition to, and not as alternatives for, the Company’s reported results and guidance determined in accordance with generally accepted accounting principles. A reconciliation of these non-GAAP measures to the Company's GAAP results and guidance appears below in the tables entitled "Reconciliation of GAAP to Non-GAAP Financial Measures" and entitled “Reconciliation of GAAP to Non-GAAP Financial Measures for Fiscal 2024 Outlook” with respect to adjusted EPS in the Fiscal 2024 outlook.
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 November 21, 2024, the Company operates 431 stores in 36 states and
Cautionary Statement Regarding Forward-Looking Information
As used herein, “we”, “our” and “us” refer to Shoe Carnival, Inc. This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties, such as statements about our future growth, operations, cash flows and shareholder returns, as well as our growth strategy and profit transformation.
A number of factors could cause our actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, but are not limited to: our ability to control costs and meet our labor needs in a rising wage, inflationary, and/or supply chain constrained environment; the impact of competition and pricing, including our ability to maintain current promotional intensity levels; the effects and duration of economic downturns and unemployment rates; our ability to achieve expected operating results from, and planned growth of, our Shoe Station banner, which includes the recently acquired stores and operations of Rogan’s, within expected time frames, or at all; the potential impact of national and international security concerns, including those caused by war and terrorism, on the retail environment; general economic conditions in the areas of the continental
Financial Tables Follow
SHOE CARNIVAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) (Unaudited) |
||||||||||||||||
|
|
Thirteen |
|
|
Thirteen |
|
|
Thirty-nine |
|
|
Thirty-nine |
|
||||
|
|
Weeks Ended |
|
|
Weeks Ended |
|
|
Weeks Ended |
|
|
Weeks Ended |
|
||||
|
|
November 2, 2024 |
|
|
October 28, 2023 |
|
|
November 2, 2024 |
|
|
October 28, 2023 |
|
||||
Net sales |
|
$ |
306,885 |
|
|
$ |
319,914 |
|
|
$ |
939,946 |
|
|
$ |
895,713 |
|
Cost of sales (including buying, distribution and occupancy costs) |
|
|
196,503 |
|
|
|
202,213 |
|
|
|
602,821 |
|
|
|
574,030 |
|
Gross profit |
|
|
110,382 |
|
|
|
117,701 |
|
|
|
337,125 |
|
|
|
321,683 |
|
Selling, general and administrative expenses |
|
|
85,853 |
|
|
|
89,766 |
|
|
|
260,010 |
|
|
|
248,147 |
|
Operating income |
|
|
24,529 |
|
|
|
27,935 |
|
|
|
77,115 |
|
|
|
73,536 |
|
Interest income |
|
|
(1,148 |
) |
|
|
(833 |
) |
|
|
(2,623 |
) |
|
|
(1,744 |
) |
Interest expense |
|
|
139 |
|
|
|
71 |
|
|
|
412 |
|
|
|
208 |
|
Income before income taxes |
|
|
25,538 |
|
|
|
28,697 |
|
|
|
79,326 |
|
|
|
75,072 |
|
Income tax expense |
|
|
6,296 |
|
|
|
6,836 |
|
|
|
20,225 |
|
|
|
17,244 |
|
Net income |
|
$ |
19,242 |
|
|
$ |
21,861 |
|
|
$ |
59,101 |
|
|
$ |
57,828 |
|
Net income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
$ |
0.71 |
|
|
$ |
0.80 |
|
|
$ |
2.18 |
|
|
$ |
2.12 |
|
Diluted |
|
$ |
0.70 |
|
|
$ |
0.80 |
|
|
$ |
2.15 |
|
|
$ |
2.11 |
|
Weighted average shares: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
27,161 |
|
|
|
27,258 |
|
|
|
27,154 |
|
|
|
27,272 |
|
Diluted |
|
|
27,565 |
|
|
|
27,400 |
|
|
|
27,488 |
|
|
|
27,433 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cash dividends declared per share |
|
$ |
0.135 |
|
|
$ |
0.120 |
|
|
$ |
0.405 |
|
|
$ |
0.320 |
|
SHOE CARNIVAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) |
||||||||||||
|
|
November 2, |
|
|
February 3, |
|
|
October 28, |
|
|||
|
|
2024 |
|
|
2024 |
|
|
2023 |
|
|||
ASSETS |
|
|
|
|
|
|
|
|
|
|||
Current Assets: |
|
|
|
|
|
|
|
|
|
|||
Cash and cash equivalents |
|
$ |
77,235 |
|
|
$ |
99,000 |
|
|
$ |
59,895 |
|
Marketable securities |
|
|
13,866 |
|
|
|
12,247 |
|
|
|
11,226 |
|
Accounts receivable |
|
|
8,678 |
|
|
|
2,593 |
|
|
|
3,105 |
|
Merchandise inventories |
|
|
406,599 |
|
|
|
346,442 |
|
|
|
368,344 |
|
Other |
|
|
20,662 |
|
|
|
21,056 |
|
|
|
19,469 |
|
Total Current Assets |
|
|
527,040 |
|
|
|
481,338 |
|
|
|
462,039 |
|
Property and equipment – net |
|
|
174,171 |
|
|
|
168,613 |
|
|
|
164,982 |
|
Operating lease right-of-use assets |
|
|
351,023 |
|
|
|
333,851 |
|
|
|
337,833 |
|
Intangible assets |
|
|
40,979 |
|
|
|
32,600 |
|
|
|
32,600 |
|
Goodwill |
|
|
18,018 |
|
|
|
12,023 |
|
|
|
12,023 |
|
Other noncurrent assets |
|
|
13,198 |
|
|
|
13,600 |
|
|
|
13,995 |
|
Total Assets |
|
$ |
1,124,429 |
|
|
$ |
1,042,025 |
|
|
$ |
1,023,472 |
|
|
|
|
|
|
|
|
|
|
|
|||
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|||
Current Liabilities: |
|
|
|
|
|
|
|
|
|
|||
Accounts payable |
|
$ |
57,283 |
|
|
$ |
58,274 |
|
|
$ |
42,944 |
|
Accrued and other liabilities |
|
|
20,050 |
|
|
|
16,620 |
|
|
|
21,394 |
|
Current portion of operating lease liabilities |
|
|
58,432 |
|
|
|
52,981 |
|
|
|
57,091 |
|
Total Current Liabilities |
|
|
135,765 |
|
|
|
127,875 |
|
|
|
121,429 |
|
Long-term portion of operating lease liabilities |
|
|
317,679 |
|
|
|
301,355 |
|
|
|
305,322 |
|
Deferred income taxes |
|
|
17,639 |
|
|
|
17,341 |
|
|
|
16,647 |
|
Deferred compensation |
|
|
13,449 |
|
|
|
11,639 |
|
|
|
9,770 |
|
Other |
|
|
4,239 |
|
|
|
426 |
|
|
|
398 |
|
Total Liabilities |
|
|
488,771 |
|
|
|
458,636 |
|
|
|
453,566 |
|
Total Shareholders’ Equity |
|
|
635,658 |
|
|
|
583,389 |
|
|
|
569,906 |
|
Total Liabilities and Shareholders’ Equity |
|
$ |
1,124,429 |
|
|
$ |
1,042,025 |
|
|
$ |
1,023,472 |
|
SHOE CARNIVAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) |
||||||||
|
|
Thirty-nine |
|
|
Thirty-nine |
|
||
|
|
Weeks Ended |
|
|
Weeks Ended |
|
||
|
|
November 2, 2024 |
|
|
October 28, 2023 |
|
||
Cash Flows From Operating Activities |
|
|
|
|
|
|
||
Net income |
|
$ |
59,101 |
|
|
$ |
57,828 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
||
Depreciation and amortization |
|
|
22,762 |
|
|
|
21,193 |
|
Stock-based compensation |
|
|
5,204 |
|
|
|
3,548 |
|
(Gain) Loss on retirement and impairment of assets, net |
|
|
(415 |
) |
|
|
79 |
|
Deferred income taxes |
|
|
(676 |
) |
|
|
4,803 |
|
Non-cash operating lease expense |
|
|
41,790 |
|
|
|
41,853 |
|
Other |
|
|
1,270 |
|
|
|
305 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
||
Accounts receivable |
|
|
(3,720 |
) |
|
|
(53 |
) |
Merchandise inventories |
|
|
(18,563 |
) |
|
|
22,046 |
|
Operating leases |
|
|
(40,139 |
) |
|
|
(41,888 |
) |
Accounts payable and accrued liabilities |
|
|
(8,714 |
) |
|
|
(33,473 |
) |
Other |
|
|
188 |
|
|
|
(6,891 |
) |
Net cash provided by operating activities |
|
|
58,088 |
|
|
|
69,350 |
|
|
|
|
|
|
|
|
||
Cash Flows From Investing Activities |
|
|
|
|
|
|
||
Purchases of property and equipment |
|
|
(24,778 |
) |
|
|
(43,601 |
) |
Investments in marketable securities |
|
|
(502 |
) |
|
|
(71 |
) |
Sales of marketable securities and other |
|
|
1,406 |
|
|
|
0 |
|
Acquisition, net of cash acquired |
|
|
(44,384 |
) |
|
|
0 |
|
Net cash used in investing activities |
|
|
(68,258 |
) |
|
|
(43,672 |
) |
|
|
|
|
|
|
|
||
Cash Flow From Financing Activities |
|
|
|
|
|
|
||
Proceeds from issuance of stock |
|
|
132 |
|
|
|
145 |
|
Dividends paid |
|
|
(11,039 |
) |
|
|
(8,928 |
) |
Purchase of common stock for treasury |
|
|
0 |
|
|
|
(5,445 |
) |
Shares surrendered by employees to pay taxes on stock-based compensation awards |
|
|
(688 |
) |
|
|
(2,927 |
) |
Net cash used in financing activities |
|
|
(11,595 |
) |
|
|
(17,155 |
) |
Net (decrease) increase in cash and cash equivalents |
|
|
(21,765 |
) |
|
|
8,523 |
|
Cash and cash equivalents at beginning of period |
|
|
99,000 |
|
|
|
51,372 |
|
Cash and cash equivalents at end of period |
|
$ |
77,235 |
|
|
$ |
59,895 |
|
SHOE CARNIVAL, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) (Unaudited) |
||||||||||
|
Thirteen
|
|
% of
|
Thirteen
|
|
% of
|
||||
|
|
|
|
|
|
|
||||
Reported gross profit |
$ |
110,382 |
|
36.0 |
% |
$ |
117,701 |
|
36.8 |
% |
Amortization expense related to fair value adjustment to acquisition inventory |
|
248 |
|
0.1 |
% |
|
0 |
|
0.0 |
% |
Adjusted gross profit, pre-tax |
$ |
110,630 |
|
36.1 |
% |
$ |
117,701 |
|
36.8 |
% |
|
|
|
|
|
|
|
||||
Reported selling, general and administrative expenses |
$ |
85,853 |
|
28.0 |
% |
$ |
89,766 |
|
28.1 |
% |
Acquisition related fees and expenses |
|
(121 |
) |
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted selling, general and administrative expenses, pre-tax |
$ |
85,732 |
|
28.0 |
% |
$ |
89,766 |
|
28.1 |
% |
|
|
|
|
|
|
|
||||
Reported operating income |
$ |
24,529 |
|
8.0 |
% |
$ |
27,935 |
|
8.7 |
% |
Amortization expense related to fair value adjustment to acquisition inventory |
|
248 |
|
0.1 |
% |
|
0 |
|
0.0 |
% |
Acquisition related fees and expenses |
|
121 |
|
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted operating income, pre-tax |
$ |
24,898 |
|
8.1 |
% |
$ |
27,935 |
|
8.7 |
% |
|
|
|
|
|
|
|
||||
Reported income tax expense |
$ |
6,296 |
|
2.0 |
% |
$ |
6,836 |
|
2.1 |
% |
Tax effect of amortization of acquisition inventory fair value adjustment and acquisition related fees and expenses |
|
90 |
|
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted income tax expense |
$ |
6,386 |
|
2.0 |
% |
$ |
6,836 |
|
2.1 |
% |
|
|
|
|
|
|
|
||||
Reported net income |
$ |
19,242 |
|
6.3 |
% |
$ |
21,861 |
|
6.8 |
% |
Amortization expense related to fair value adjustment to acquisition inventory |
|
248 |
|
0.1 |
% |
|
0 |
|
0.0 |
% |
Acquisition related fees and expenses |
|
121 |
|
0.0 |
% |
|
0 |
|
0.0 |
% |
Tax effect of acquisition related fees and expenses |
|
(90 |
) |
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted net income |
$ |
19,521 |
|
6.4 |
% |
$ |
21,861 |
|
6.8 |
% |
|
|
|
|
|
|
|
||||
Reported net income per diluted share |
$ |
0.70 |
|
|
$ |
0.80 |
|
|
||
Amortization expense related to fair value adjustment to acquisition inventory |
|
0.01 |
|
|
|
0.00 |
|
|
||
Acquisition related fees and expenses |
|
0.00 |
|
|
|
0.00 |
|
|
||
Tax effect of acquisition related fees and expenses |
|
0.00 |
|
|
|
0.00 |
|
|
||
Adjusted diluted net income per share |
$ |
0.71 |
|
|
$ |
0.80 |
|
|
SHOE CARNIVAL, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share data) (Unaudited) |
||||||||||
|
Thirty-nine
|
|
% of
|
Thirty-nine
|
|
% of
|
||||
|
|
|
|
|
|
|
||||
Reported gross profit |
$ |
337,125 |
|
35.9 |
% |
$ |
321,683 |
|
35.9 |
% |
Amortization expense related to fair value adjustment to acquisition inventory |
|
745 |
|
0.1 |
% |
|
0 |
|
0.0 |
% |
Adjusted gross profit, pre-tax |
$ |
337,870 |
|
36.0 |
% |
$ |
321,683 |
|
35.9 |
% |
|
|
|
|
|
|
|
||||
Reported selling, general and administrative expenses |
$ |
260,010 |
|
27.7 |
% |
$ |
248,147 |
|
27.7 |
% |
Acquisition related fees and expenses |
|
(539 |
) |
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted selling, general and administrative expenses, pre-tax |
$ |
259,471 |
|
27.7 |
% |
$ |
248,147 |
|
27.7 |
% |
|
|
|
|
|
|
|
||||
Reported operating income |
$ |
77,115 |
|
8.2 |
% |
$ |
73,536 |
|
8.2 |
% |
Amortization expense related to fair value adjustment to acquisition inventory |
|
745 |
|
0.1 |
% |
|
0 |
|
0.0 |
% |
Acquisition related fees and expenses |
|
539 |
|
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted operating income, pre-tax |
$ |
78,399 |
|
8.3 |
% |
$ |
73,536 |
|
8.2 |
% |
|
|
|
|
|
|
|
||||
Reported income tax expense |
$ |
20,225 |
|
2.1 |
% |
$ |
17,244 |
|
1.9 |
% |
Tax effect of amortization of acquisition inventory fair value adjustment and acquisition related fees and expenses |
|
312 |
|
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted income tax expense |
$ |
20,537 |
|
2.1 |
% |
$ |
17,244 |
|
1.9 |
% |
|
|
|
|
|
|
|
||||
Reported net income |
$ |
59,101 |
|
6.3 |
% |
$ |
57,828 |
|
6.5 |
% |
Amortization expense related to fair value adjustment to acquisition inventory |
|
745 |
|
0.1 |
% |
|
0 |
|
0.0 |
% |
Acquisition related fees and expenses |
|
539 |
|
0.0 |
% |
|
0 |
|
0.0 |
% |
Tax effect of acquisition related fees and expenses |
|
(312 |
) |
0.0 |
% |
|
0 |
|
0.0 |
% |
Adjusted net income |
$ |
60,073 |
|
6.4 |
% |
$ |
57,828 |
|
6.5 |
% |
|
|
|
|
|
|
|
||||
Reported net income per diluted share |
$ |
2.15 |
|
|
$ |
2.11 |
|
|
||
Amortization expense related to fair value adjustment to acquisition inventory |
|
0.03 |
|
|
|
0.00 |
|
|
||
Acquisition related fees and expenses |
|
0.02 |
|
|
|
0.00 |
|
|
||
Tax effect of acquisition related fees and expenses |
|
(0.01 |
) |
|
|
0.00 |
|
|
||
Adjusted diluted net income per share |
$ |
2.19 |
|
|
$ |
2.11 |
|
|
SHOE CARNIVAL, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL 2024 OUTLOOK (Unaudited) |
||||||||
|
Low End of Fiscal
|
|
|
High End of Fiscal
|
|
|
||
|
|
|
|
|
|
|
||
Net income per diluted share (GAAP) |
$ |
2.55 |
|
|
$ |
2.70 |
|
|
Amortization expense related to fair value adjustment to acquisition inventory and acquisition related fees and expenses |
|
0.07 |
|
|
|
0.07 |
|
|
Tax effect of amortization of acquisition inventory fair value adjustment and acquisition related fees and expenses |
|
(0.02 |
) |
|
|
(0.02 |
) |
|
Adjusted diluted net income per share |
$ |
2.60 |
|
|
$ |
2.75 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241121755614/en/
Steve R. Alexander
Shoe Carnival
Vice President Investor Relations
(812) 867-4034
Source: Shoe Carnival, Inc.