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Kind 8-Ok SHOE CARNIVAL INC For: Aug 25



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false000089544700008954472022-08-252022-08-25

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-Ok

 

CURRENT REPORT

Pursuant to Part 13 or 15(d) of the Securities Alternate Act of 1934

Date of Report (Date of earliest occasion reported): August 25, 2022

 

SHOE CARNIVAL, INC.

(Actual title of Registrant as Laid out in Its Constitution)

 

 

Indiana

0-21360

35-1736614

(State or Different Jurisdiction

of Incorporation)

(Fee File Quantity)

(IRS Employer

Identification No.)

 

 

 

7500 East Columbia Road

Evansville, Indiana

 

47715

(Deal with of Principal Govt Workplaces)

 

(Zip Code)

Registrant’s Phone Quantity, Together with Space Code: (812) 867-4034

Not Relevant

(Former Identify or Former Deal with, if Modified Since Final Report)

 

Verify the suitable field beneath if the Kind 8-Ok submitting is meant to concurrently fulfill the submitting obligation of the registrant underneath any of the next provisions (see Normal Directions A.2. beneath):

Written communications pursuant to Rule 425 underneath the Securities Act (17 CFR 230.425)

Soliciting materials pursuant to Rule 14a-12 underneath the Alternate Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) underneath the Alternate Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) underneath the Alternate Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Part 12(b) of the Act:

 

Title of every class

 

Buying and selling

Image(s)

 

Identify of every change on which registered

Widespread Inventory, par worth $0.01 per share

 

SCVL

 

The Nasdaq Inventory Market LLC

 

Point out by verify mark whether or not the registrant is an rising development firm as outlined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Alternate Act of 1934 (§ 240.12b-2 of this chapter).

Rising development firm

 

If an rising development firm, point out by verify mark if the registrant has elected to not use the prolonged transition interval for complying with any new or revised monetary accounting requirements offered pursuant to Part 13(a) of the Alternate Act.

 


 

 

 

 


Merchandise 2.02 Outcomes of Operations and Monetary Situation.

 

The next info shall not be deemed “filed” for the needs of Part 18 of the Securities Alternate Act of 1934 (the “Alternate Act”), or in any other case topic to the liabilities of that Part, nor shall it’s included by reference into any registration assertion or different doc pursuant to the Securities Act of 1933, as amended, or the Alternate Act, besides as shall be expressly set forth by particular reference in such submitting.

 

On August 25, 2022, Shoe Carnival, Inc. (the “Firm”) issued a press launch saying its working and monetary outcomes for its second quarter ended July 30, 2022. A replica of the press launch is hooked up hereto as Exhibit 99.1 and is included herein by reference.


Merchandise 9.01 Monetary Statements and Displays

 

(d) Displays:

 

Exhibit No. Displays

 

99.1 Earnings Release – Second Quarter Ended July 30, 2022

 

104 Cowl Web page Interactive Knowledge File, formatted in Inline Extensible Enterprise Reporting Language (iXBRL)

 

2


 

 


 

SIGNATURES

 

Pursuant to the necessities of the Securities Alternate Act of 1934, the registrant has duly precipitated this report back to be signed on its behalf by the undersigned hereunto duly approved.

 

 

 

SHOE CARNIVAL, INC.

 

 

 

 (Registrant)

 

Date: August 25, 2022

By:

/s/ W. Kerry Jackson

 

 

 

W. Kerry Jackson

 

 

 

Senior Govt Vice President

 

 

 

Chief Monetary and Administrative Officer and Treasurer

 

 

 

 

 

 

3

 


EX-99.1

 

img3742879_0.jpg 

 

 

SHOE CARNIVAL REPORTS SECOND QUARTER FISCAL 2022 RESULTS

 

Stories accelerating development in earnings per share and reaffirms fiscal 2022 earnings outlook

 

Web gross sales and profitability from Shoe Station acquisition exceed preliminary expectations

 

Evansville, Indiana, August 25, 2022 – Shoe Carnival, Inc. (Nasdaq: SCVL) (the “Firm”), a number one retailer of footwear and equipment for the household, right now reported outcomes for the second quarter ended July 30, 2022.

 

Given the volatility skilled throughout 2020 and 2021, the Firm believes essentially the most related comparability for the second quarter 2022 is to the second quarter 2019, previous to the onset of the COVID-19 pandemic and associated authorities stimulus and provide chain disruption.

 

(In hundreds, besides per share knowledge)

 

13 Weeks Ended

 

 

 

July 30,

 

 

 

August 3,

 

 

August 1,

 

 

July 31,

 

 

 

2022

 

 

 

2019

 

 

2020

 

 

2021

 

Web gross sales

 

$

312,268

 

 

 

$

268,221

 

 

$

300,794

 

 

$

332,230

 

Gross revenue

 

$

113,130

 

 

 

$

82,095

 

 

$

82,605

 

 

$

135,752

 

Gross revenue margin

 

 

36.2

%

 

 

 

30.6

%

 

 

27.5

%

 

 

40.9

%

SG&A as a proportion of internet gross sales

 

 

23.8

%

 

 

 

24.8

%

 

 

22.7

%

 

 

22.9

%

Working revenue margin

 

 

12.4

%

 

 

 

5.8

%

 

 

4.8

%

 

 

18.0

%

Web revenue

 

$

28,909

 

 

 

$

11,832

 

 

$

10,060

 

 

$

44,212

 

Diluted internet revenue per share (“EPS”)

 

$

1.04

 

 

 

$

0.40

 

 

$

0.35

 

 

$

1.54

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter Highlights In comparison with 2019

Web gross sales grew 16.4 p.c with each retailer banners contributing.

Primarily based on outcomes by means of the second quarter, Shoe Station banner gross sales at the moment are anticipated to exceed beforehand introduced full yr expectations of $100 million by greater than 10 p.c.

Gross revenue margin elevated 560 foundation factors.

Working revenue margin elevated 660 foundation factors and at 12.4 p.c was the sixth consecutive quarter in double-digits.

Second quarter EPS of $1.04 (up 160 p.c) and year-to-date EPS of $1.99 (up 131 p.c) is on monitor to ship beforehand introduced full yr steerage within the vary of $3.95 to $4.15.

 

“The Shoe Carnival crew delivered distinctive profitability in a difficult financial atmosphere,” stated Mark Worden, President and Chief Govt Officer. “The almost $2.00 of EPS earned in the course of the first half of 2022 is larger than any full yr earnings in our 44 years of operation aside from final yr’s stimulus boosted outcomes.”

 

“We’re proud to ship our sixth consecutive quarter of double-digit working revenue margin and gross revenue margin that expanded almost 600 foundation factors versus pre-pandemic ranges on each a quarterly and

 


 

year-to-date foundation. Contribution from the Shoe Station banner has exceeded preliminary expectations and we count on to comprehend extra synergies and to develop retailer rely throughout each banners. We’re optimistic about our long-term development trajectory and delivering our profitability objectives for 2022,” concluded Mr. Worden.

 

Shoe Station Replace

 

Shoe Station working outcomes to this point have exceeded administration’s preliminary expectations. Beforehand introduced expectations had been $100 million of annual internet gross sales and a ten p.c working revenue margin. The Firm now anticipates the top-line gross sales goal will probably be exceeded by greater than 10 p.c and bottom-line contribution will probably be consistent with the Firm’s general anticipated working revenue margin of 11.4 p.c to 11.6 p.c. The Firm anticipates additional provide chain and omnichannel synergies will probably be achieved by fiscal yr finish, with advantages realized in fiscal 2023.

 

Again-to-College Replace

 

August merchandise gross sales by means of the start of the fourth week of August embrace the best three-day gross sales achieved throughout any three days within the Firm’s historical past. August-to-date merchandise gross sales have elevated within the mid-teens in comparison with 2019 and have decreased mid-single digits in comparison with 2021. Gross revenue margin for August is predicted to extend over 650 foundation factors in comparison with 2019. The August back-to-school procuring interval drives over half of the Firm’s third quarter profitability.

 

Fiscal 2022 Earnings Outlook

 

In comparison with 2019, EPS development has accelerated by means of the primary half of 2022, rising 107 p.c within the first quarter and 160 p.c within the second quarter. These outcomes, mixed with the stable begin to the third quarter, present the muse for the Firm’s gross sales and earnings outlook for fiscal 2022.

 

EPS is reaffirmed to be within the vary of $3.95 to $4.15, in comparison with a pre-pandemic annual excessive of $1.46 in 2019.

Web gross sales are anticipated to be between $1.29 billion and $1.34 billion, up 24 p.c to 29 p.c in comparison with 2019.

Gross revenue margin is predicted to be in a spread of 36.6 p.c to 36.7 p.c, in comparison with 30.1 p.c in 2019.

Working revenue margin is predicted to be in a spread of 11.4 p.c to 11.6 p.c, in comparison with 5.2 p.c in 2019.

 

Merchandise Stock

 

The Firm ended second quarter 2022 with stock of $385.5 million, a rise of $48.6 million in comparison with second quarter 2019. Roughly 59 p.c of the rise is stock for the Shoe Station shops acquired final yr or opened this yr. The 14.4 p.c enhance in stock is supportive of the 20.6 p.c enhance in internet gross sales year-to-date in comparison with 2019 and the expectation of will increase in gross sales for the rest of the yr. The variety of weeks of gross sales within the second quarter ending stock this yr is barely down in comparison with 2019.

 

Working Outcomes In comparison with 2019

 

Second quarter 2022 internet gross sales of $312.3 million elevated $44.0 million, or 16.4 p.c, in comparison with the pre-pandemic second quarter 2019, pushed by contribution from Shoe Station shops and new

 


 

buyer acquisition at Shoe Carnival shops of 28 p.c. 12 months-to-date internet gross sales have elevated $107.8 million, or 20.6 p.c, in comparison with 2019, with each retailer banners contributing almost equally to the year-to-date enhance. Gross sales from the Shoe Station banner shops, acquired in December 2021, added internet gross sales of $27.2 million for the quarter and $53.4 million year-to-date.

 

COVID-19-related manufacturing and provide chain disruptions considerably constrained the provision of athletic footwear. Primarily based on weekly averages, athletic stock was down 25.7 p.c in the course of the 2022 second quarter in comparison with 2019. These decrease stock ranges contributed to decreased athletic gross sales within the quarter by 12.9 p.c. This lower was greater than offset by a 30.8 p.c enhance in gross sales of non-athletic shoe classes, driving general comparable retailer gross sales up 8.0 p.c.

 

Second quarter 2022 gross revenue margin was 36.2 p.c, a 560 foundation level enhance in comparison with second quarter 2019. Merchandise margin would have elevated over 800 foundation factors primarily because of elevated buyer relationship administration capabilities, which have resulted in additional focused promotional pricing and better common promoting costs. Nevertheless, inflationary impacts on transportation and gas bills partially offset the rise in merchandise margin and in addition elevated the Firm’s distribution prices.

 

Working revenue for second quarter 2022 was $38.8 million and was 12.4 p.c of internet gross sales, a 660 foundation level enhance in comparison with second quarter 2019.

 

Second quarter 2022 internet revenue was $28.9 million, or $1.04 per diluted share, a rise of 160 p.c in comparison with second quarter 2019.

 

Working Outcomes In comparison with 2021

 

Web gross sales decreased $20.0 million, or 6.0 p.c, in comparison with second quarter 2021 with a comparable retailer decline of 13.8 p.c partially offset by gross sales from Shoe Station shops. The comparable retailer decline was primarily pushed by decrease athletic gross sales.

 

Gross revenue margin decreased 470 foundation factors in comparison with second quarter 2021, primarily because of larger prices, together with larger freight and gas prices, and the de-leveraging impact of decrease gross sales on shopping for, distribution and occupancy prices.

 

In second quarter 2021, working revenue, internet revenue and EPS had been $59.7 million, $44.2 million, and $1.54, respectively.

 

Retailer Updates

 

Retailer rely is on monitor to attain 400 shops by the top of fiscal 2022. No retailer closures throughout fiscal 2022 are anticipated.

 

The Firm is presently modernizing its shops and plans to have over 50 p.c of shops modernized by the summer time of 2023 and the total program full by the top of fiscal 2024.

 

Share Repurchase Program

 

As of July 30, 2022, the Firm had $29.5 million out there for future repurchases underneath its share repurchase program, and in the course of the second quarter no shares had been repurchased.

 

Convention Name

 

 


 

At present, at 8:30 a.m. Japanese Time, the Firm will host a convention name to debate the second quarter outcomes. Contributors can hearken to the stay webcast of the decision by visiting Shoe Carnival’s Traders webpage at www.shoecarnival.com. Whereas the question-and-answer session will probably be out there to all listeners, questions from the viewers will probably be restricted to institutional analysts and traders. A replay of the webcast will probably be out there on the Firm’s web site starting roughly two hours after the conclusion of the convention name and will probably be archived for one yr.

 

About Shoe Carnival

 

Shoe Carnival, Inc. is among the nation’s largest household footwear retailers, providing a broad assortment of gown, informal and athletic footwear for males, girls and youngsters with emphasis on nationwide title manufacturers. As of August 25, 2022, the Firm operates 395 shops in 35 states and Puerto Rico underneath its Shoe Carnival and Shoe Station banners and affords procuring at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Inventory Market LLC underneath the image SCVL. Press releases and annual report can be found on the Firm’s web site at www.shoecarnival.com.

 

Contact Info

 

W. Kerry Jackson

Shoe Carnival Investor Relations

(812) 867-4034

 

Cautionary Assertion Relating to Ahead-Wanting Info

 

As used herein, “we”, “our” and “us” consult with Shoe Carnival, Inc. This press launch accommodates forward-looking statements, inside the that means of the Personal Securities Litigation Reform Act of 1995, that contain plenty of dangers and uncertainties. A lot of elements may trigger our precise outcomes, efficiency, achievements or business outcomes to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by these forward-looking statements. These elements embrace, however usually are not restricted to: our capability to regulate prices and meet our labor wants in a rising wage, inflationary, and/or provide chain constrained atmosphere; the period and unfold of the COVID-19 pandemic, mitigating efforts deployed, together with the consequences of presidency stimulus on client spending, and the pandemic’s general influence on our operations, together with our shops, provide chain and distribution processes, financial situations, and monetary market volatility; our capability to function the lately acquired Shoe Station belongings, retain Shoe Station workers and obtain anticipated working outcomes, synergies, and different advantages from the Shoe Station acquisition inside anticipated time frames, or in any respect; dangers that the Shoe Station acquisition might disrupt our present plans and operations or negatively influence our relationship with our distributors and different suppliers; the potential influence of nationwide and worldwide safety considerations, together with these attributable to struggle and terrorism, on the retail atmosphere; basic financial situations within the areas of the continental United States and Puerto Rico the place our shops are positioned; the consequences and period of financial downturns and unemployment charges; modifications within the general retail atmosphere and extra particularly within the attire and footwear retail sectors; our capability to generate elevated gross sales; our capability to efficiently navigate the rising use of on-line retailers for vogue purchases and the influence on visitors and transactions in our bodily shops; the success of the open-air procuring facilities the place a lot of our shops are positioned and its influence on our capability to draw clients to our shops; our capability to draw clients to our e-commerce platform and to efficiently develop our omnichannel gross sales; the effectiveness of our stock administration, together with our capability to handle key merchandise vendor relationships and rising direct-to-consumer initiatives; modifications in {our relationships} with different key suppliers; modifications within the political and financial environments in, the standing of commerce relations with, and the influence of modifications in commerce insurance policies and tariffs impacting, China and different international locations that are the main producers of footwear; the influence of competitors and pricing; our capability to efficiently handle and execute our advertising initiatives and keep constructive model notion and recognition; our capability to efficiently handle our present actual property portfolio and

 


 

leasing obligations; modifications in climate, together with patterns impacted by local weather change; modifications in client shopping for developments and our capability to establish and reply to rising vogue developments; the influence of disruptions in our distribution or info know-how operations; the influence of pure disasters, different public well being crises, political crises, civil unrest, and different catastrophic occasions on our operations and the operations of our suppliers, in addition to on client confidence and buying basically; dangers related to the seasonality of the retail business; the influence of unauthorized disclosure or misuse of private and confidential details about our clients, distributors and workers, together with because of a cybersecurity breach; our capability to efficiently execute our enterprise technique, together with the provision of fascinating retailer places at acceptable lease phrases, our capability to establish, consummate or successfully combine future acquisitions, our capability to implement and adapt to new know-how and techniques, our capability to open new shops in a well timed and worthwhile method, together with our entry into main new markets, and the provision of enough funds to implement our enterprise plans; larger than anticipated prices related to the closing of underperforming shops; the lack of producers to ship merchandise in a well timed method; a rise in the associated fee, or a disruption within the stream, of imported items; the influence of regulatory modifications in the USA, together with minimal wage legal guidelines and rules, and the international locations the place our producers are positioned; the decision of litigation or regulatory proceedings by which we’re or might develop into concerned; continued volatility and disruption within the capital and credit score markets; future inventory repurchases underneath our inventory repurchase program and future dividend funds; and different elements described within the Firm’s SEC filings, together with the Firm’s newest Annual Report on Kind 10-Ok. As well as, these forward-looking statements essentially rely upon assumptions, estimates and dates which may be incorrect or imprecise and contain identified and unknown dangers, uncertainties and different elements. Accordingly, any forward-looking statements included on this press launch don’t purport to be predictions of future occasions or circumstances and might not be realized. Ahead-looking statements may be recognized by, amongst different issues, using forward-looking phrases similar to “believes,” “expects,” “goals,” “might,” “will,” “ought to,” “seeks,” “professional forma,” “anticipates,” “intends” or the unfavorable of any of those phrases, or comparable terminology, or by discussions of technique or intentions. Given these uncertainties, we warning traders to not place undue reliance on these forward-looking statements, which communicate solely as of the date hereof. We disclaim any obligation to replace any of those elements or to publicly announce any revisions to the forward-looking statements contained on this press launch to replicate future occasions or developments.

 

 

 

Monetary Tables Observe

 

 


 

SHOE CARNIVAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In hundreds, besides per share knowledge)
(Unaudited)

 

 

 

13

 

 

13

 

 

Twenty-six

 

 

Twenty-six

 

 

 

Weeks Ended

 

 

Weeks Ended

 

 

Weeks Ended

 

 

Weeks Ended

 

 

 

July 30, 2022

 

 

July 31, 2021

 

 

July 30, 2022

 

 

July 31, 2021

 

Web gross sales

 

$

312,268

 

 

$

332,230

 

 

$

629,795

 

 

$

660,687

 

Price of gross sales (together with shopping for,
   distribution and occupancy prices)

 

 

199,138

 

 

 

196,478

 

 

 

403,802

 

 

 

394,777

 

Gross revenue

 

 

113,130

 

 

 

135,752

 

 

 

225,993

 

 

 

265,910

 

Promoting, basic and administrative bills

 

 

74,341

 

 

 

76,038

 

 

 

151,820

 

 

 

148,593

 

Working revenue

 

 

38,789

 

 

 

59,714

 

 

 

74,173

 

 

 

117,317

 

Curiosity revenue

 

 

(138

)

 

 

(2

)

 

 

(170

)

 

 

(6

)

Curiosity expense

 

 

65

 

 

 

119

 

 

 

160

 

 

 

238

 

Revenue earlier than revenue taxes

 

 

38,862

 

 

 

59,597

 

 

 

74,183

 

 

 

117,085

 

Revenue tax expense

 

 

9,953

 

 

 

15,385

 

 

 

18,377

 

 

 

29,631

 

Web revenue

 

$

28,909

 

 

$

44,212

 

 

$

55,806

 

 

$

87,454

 

Web revenue per share:

 

 

 

 

 

 

 

 

 

 

 

 

Fundamental

 

$

1.05

 

 

$

1.56

 

 

$

2.01

 

 

$

3.09

 

Diluted

 

$

1.04

 

 

$

1.54

 

 

$

1.99

 

 

$

3.05

 

Weighted common shares:

 

 

 

 

 

 

 

 

 

 

 

 

Fundamental

 

 

27,590

 

 

 

28,323

 

 

 

27,784

 

 

 

28,290

 

Diluted

 

 

27,812

 

 

 

28,652

 

 

 

28,061

 

 

 

28,643

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money dividends declared per share

 

$

0.090

 

 

$

0.070

 

 

$

0.180

 

 

$

0.140

 

 

 


 

SHOE CARNIVAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In hundreds)

(Unaudited)
 

 

 

July 30,

 

 

January 29,

 

 

July 31,

 

 

 

2022

 

 

2022

 

 

2021

 

ASSETS

 

 

 

 

 

 

 

 

 

Present Belongings:

 

 

 

 

 

 

 

 

 

Money and money equivalents

 

$

51,620

 

 

$

117,443

 

 

$

146,506

 

Marketable securities

 

 

10,994

 

 

 

14,961

 

 

 

17,431

 

Accounts receivable

 

 

10,677

 

 

 

14,159

 

 

 

7,871

 

Merchandise inventories

 

 

385,510

 

 

 

285,205

 

 

 

308,141

 

Different

 

 

18,131

 

 

 

10,264

 

 

 

13,131

 

Whole Present Belongings

 

 

476,932

 

 

 

442,032

 

 

 

493,080

 

Property and gear – internet

 

 

124,789

 

 

 

88,533

 

 

 

65,871

 

Working lease right-of-use belongings

 

 

254,537

 

 

 

220,952

 

 

 

208,472

 

Intangible belongings

 

 

32,600

 

 

 

32,600

 

 

 

0

 

Goodwill

 

 

10,786

 

 

 

11,384

 

 

 

0

 

Deferred revenue taxes

 

 

0

 

 

 

2,699

 

 

 

4,135

 

Different noncurrent belongings

 

 

14,871

 

 

 

14,064

 

 

 

12,498

 

Whole Belongings

 

$

914,515

 

 

$

812,264

 

 

$

784,056

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

Present Liabilities:

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

113,826

 

 

$

69,092

 

 

$

96,494

 

Accrued and different liabilities

 

 

22,893

 

 

 

33,053

 

 

 

50,126

 

Present portion of working lease liabilities

 

 

52,523

 

 

 

51,563

 

 

 

47,769

 

Whole Present Liabilities

 

 

189,242

 

 

 

153,708

 

 

 

194,389

 

Lengthy-term portion of working lease liabilities

 

 

226,115

 

 

 

194,788

 

 

 

185,555

 

Deferred revenue taxes

 

 

4,436

 

 

 

0

 

 

 

0

 

Deferred compensation

 

 

10,779

 

 

 

10,901

 

 

 

11,440

 

Different

 

 

311

 

 

 

334

 

 

 

2,760

 

Whole Liabilities

 

 

430,883

 

 

 

359,731

 

 

 

394,144

 

Whole Shareholders’ Fairness

 

 

483,632

 

 

 

452,533

 

 

 

389,912

 

Whole Liabilities and Shareholders’ Fairness

 

$

914,515

 

 

$

812,264

 

 

$

784,056

 

 

 

 

 


 

SHOE CARNIVAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In hundreds)

(Unaudited)
 

 

 

Twenty-six

 

 

Twenty-six

 

 

 

Weeks Ended

 

 

Weeks Ended

 

 

 

July 30, 2022

 

 

July 31, 2021

 

Money Flows From Working Actions

 

 

 

 

 

 

Web revenue

 

$

55,806

 

 

$

87,454

 

Changes to reconcile internet revenue to internet
     money offered by working actions:

 

 

 

 

 

 

Depreciation and amortization

 

 

10,416

 

 

 

8,926

 

Inventory-based compensation

 

 

2,741

 

 

 

2,686

 

Loss on retirement and impairment of belongings, internet

 

 

83

 

 

 

1,034

 

Deferred revenue taxes

 

 

7,135

 

 

 

1,499

 

Non-cash working lease expense

 

 

23,497

 

 

 

21,214

 

Different

 

 

384

 

 

 

1,845

 

Adjustments in working belongings and liabilities:

 

 

 

 

 

 

Accounts receivable

 

 

3,481

 

 

 

(775

)

Merchandise inventories

 

 

(100,305

)

 

 

(74,875

)

Working leases

 

 

(24,794

)

 

 

(22,140

)

Accounts payable and accrued liabilities

 

 

40,514

 

 

 

53,236

 

Different

 

 

(10,040

)

 

 

(257

)

Web money offered by working actions

 

 

8,918

 

 

 

79,847

 

 

 

 

 

 

 

 

Money Flows From Investing Actions

 

 

 

 

 

 

Purchases of property and gear

 

 

(50,198

)

 

 

(12,137

)

Investments in marketable securities and different

 

 

(11

)

 

 

(17,482

)

Gross sales of marketable securities and different

 

 

3,040

 

 

 

0

 

Web money utilized in investing actions

 

 

(47,169

)

 

 

(29,619

)

 

 

 

 

 

 

 

Money Circulation From Financing Actions

 

 

 

 

 

 

Proceeds from issuance of inventory

 

 

93

 

 

 

92

 

Dividends paid

 

 

(5,064

)

 

 

(4,039

)

Buy of frequent inventory for treasury

 

 

(20,515

)

 

 

(3,971

)

Shares surrendered by workers to pay taxes on
   stock-based compensation awards

 

 

(2,086

)

 

 

(2,336

)

Web money utilized in financing actions

 

 

(27,572

)

 

 

(10,254

)

Web (lower) enhance in money and money equivalents

 

 

(65,823

)

 

 

39,974

 

Money and money equivalents at starting of interval

 

 

117,443

 

 

 

106,532

 

Money and money equivalents at finish of interval

 

$

51,620

 

 

$

146,506

 

 

 

 

 




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