Shoe Carnival acquires Rogan's Shoes for $45M; preliminary FY2023 sales $1.176B

SHOE CARNIVAL INC

Acquired Rogan's Shoes for $45M initial cash; up to $5M contingent on 3-year performance.
Acquisition expected to generate ~$84M sales and ~$10M operating income post-integration; accretive to FY2024 earnings.
Preliminary FY2023 net sales $1.176B; diluted EPS in mid-range of $2.65-$2.75 guidance.
Inventory reduced over $40M YoY; ended FY2023 with >$110M cash, no debt for 19th consecutive year.
Combined Shoe Station + Rogan's banner sales expected to surpass $200M by FY2025; store count reaches 429.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SHOE CARNIVAL INC reported fiscal year ended February 3, 2024 results: revenue net sales of $1.176 billion, EPS between $2.65 - $2.75.

Period: fiscal year ended February 3, 2024
Revenue: net sales of $1.176 billion
EPS: between $2.65 - $2.75
Result: preliminary results

Exact text from the filing

For the fiscal year ended February 3, 2024, the Company achieved the high end of management’s sales expectations with net sales of $1.176 billion, driven by strong sales growth during the December holiday period. Diluted earnings per share are in line with expectations to be between $2.65 - $2.75, with preliminary results in the mid-range, excluding any transaction costs related to the Rogan’s acquisition.

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Source: SEC EDGAR

accession 0000950170-24-014621

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