M&A - SHOE CARNIVAL INC

Form Type: 10-Q

Filing Date: 2025-06-06

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025082692

Filing Summary: Shoe Carnival, Inc. filed its quarterly report for the period ended May 3, 2025, indicating that it has completed the acquisition of Rogan Shoes, Incorporated on February 13, 2024, for a total purchase price of $44.8 million, net of cash acquired. The acquisition aims to position Shoe Carnival as the foremost family footwear retailer in Wisconsin and Minnesota, increasing its market presence significantly with Rogan’s historical revenue contributing to net sales. In this report, the company's financial performance showed a net income of $9.343 million for the thirteen weeks ended May 3, 2025, versus $17.286 million for the same period in 2024. Total current assets increased to $548.631 million, driven by rises in cash and merchandise inventories, while total liabilities were reported at $486.577 million. The company highlighted ongoing management strategies to address market risks and maintain robust financial health. Adjustments in operating expenses and provisions related to the acquisition were noted, but no additional significant risks were disclosed for the upcoming period. The report also confirmed compliance with required SEC filings and rules on public disclosures.

Form Type: 10-K

Filing Date: 2025-03-21

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025043195

Filing Summary: Shoe Carnival, Inc. is positioned as a leading omnichannel seller of footwear in the United States, having acquired Rogan's Shoes, Incorporated in February 2024, enhancing its market leadership in Wisconsin and establishing a store base in Minnesota. The acquisition contributed $80.3 million in Net Sales for Fiscal 2024, surpassing their operating income target. The company also reports a strategy shift towards expanding the Shoe Station brand, which has outperformed industry trends, by rebannering 175 stores over the next two years. Shoe Carnival operates 430 stores across 36 states and Puerto Rico, with a significant focus on leveraging e-commerce and modernizing their store fleet as part of their growth strategy. The 10-K also discusses risks related to competition, economic conditions, supply chain issues, and ongoing adaptations in their business model to respond to retail trends and consumer preferences.