Shoe Carnival(SCVL) - 2026 Q1 - Quarterly Results

Financial Performance - First quarter 2025 net sales declined 7.5% to $277.7 million compared to$300.4 million in the first quarter of 2024[6] - First quarter 2025 net income was $9.3 million, or$0.34 per diluted share, down from $17.3 million, or$0.63 per diluted share in the first quarter of 2024[9] - Operating income fell to $11.965 million, a decrease of 46.8$22.507 million year-over-year[29] - Net income decreased to $9.343 million, down 46.0$17.286 million in the same quarter last year, resulting in a diluted net income per share of $0.34[29] - Gross profit declined to$95.777 million, representing a gross margin of 34.5%, compared to $106.800 million and a gross margin of 35.5$1.15 billion to $1.23 billion, representing a decline of 4$277.715 million for the thirteen weeks ended May 3, 2025, down 7.5% from $300.365 million for the same period last year[29] Expenses and Margins - The gross profit margin for the first quarter 2025 was 34.5$78.476 million, a decrease from $108.680 million at the beginning of the period[33] - Total assets grew to$1,140.158 million, compared to $1,124.133 million in the previous quarter[31] - Total liabilities increased to$486.577 million, up from $475.137 million in the previous quarter[31] - Cash flows from operating activities resulted in a net cash outflow of$9.637 million, compared to a net inflow of $17.059 million in the same period last year[33] Capital Expenditures and Store Strategy - Capital expenditures in the first quarter 2025 totaled$13.3 million, reflecting the rebanner of 24 stores and the opening of one new store[12] - The company plans for approximately 120 stores, or 28% of the store fleet, to operate as Shoe Station by the end of Fiscal 2025[16] - The rebanner strategy is projected to impact operating income by $20 to$25 million, resulting in an estimated $0.65 decline in Fiscal 2025 EPS[18] Dividends - Dividends declared per share increased to$0.150, up from $0.135 in the prior year[29]