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Stock impact report

Shoe Carnival Snaps Up Work and Family Footwear Retailer Rogan's Shoes for $45 Million [Yahoo! Finance]

Shoe Carnival, Inc. (SCVL) 
Last shoe carnival, inc. earnings: 3/25 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
According to Shoe Carnival, the acquisition was funded with cash flow generated in fiscal 2023 and is expected to be immediately accretive to the company's fiscal 2024 earnings. The company also expects to generate approximately $84 million in sales and approximately $10 million in operating income, excluding transaction and integration costs next year. More from Footwear News Neiman Marcus Group Severs Commercial Ties to Farfetch Coupang Finalizes Purchase of Troubled Farfetch The company added that it has an 18-month integration plan in place and expects to capture an additional $1.5 million in synergies annually. It will realize half of the profit synergies by fiscal 2025 and the full amount by fiscal 2026, the company said. In a press release about the acquisition, Shoe Carnival added that the buy advances its strategy to be the nation's leading family footwear retailer . This includes immediately positioning the company as the market leader in Wisconsin, and it establi Show less Read more
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