On this page of StockholderLetter.com we present the latest annual shareholder letter from SHOE CARNIVAL INC — ticker symbol SCVL. Reading current and past SCVL letters to shareholders can bring important insights into the investment thesis.
2023
Annual
Report
Fin
Financial
Highlights
Shoe Carnival delive
the company   s growth
th and
an profit transformation strategies. Diluted net income per share (EPS) achieved in 2023
represented a compound annual
annu growth rate of 17% since 2018.
$2 68
$2.68
EPS
S
118%
Increase
$1 23
$1.23
EPS Growth
2023 vs 2018
$0 66
$0.66
2013
2018
10 years ago
5 years ago
2023
Net Sales (in millions)
$1 175 9 M
$1,175.9
14%
Increase
$1 029 7 M
$1,029.7
$884 8 M
$884.8
Net Sales Growth
2023 vs 2018
2013
2018
10 years ago
5 years ago
2023
Operating Income (in millions)
88%
$93 5 M
$93.5
Increase
Operating
Income Growth
vs 2018
$43 7 M
$43.7
$49
49.8
8M
2013
2018
10 years ago
5 years ago
2023


Letter to Shareholders
During 2023 we advanced our long-term strategies with the goal to be the nation   s leading Family Footwear retailer. Momentum is
I am encouraged by our team   s progress on so many fronts and would like to take the opportunity to highlight a few
key areas.
Our Shoe Station growth banner attracted new customers, expanded into additional markets, and rapidly grew market share. It has been
banner   s growth potential ahead. The organization achieved full integration ahead of plan, captured targeted synergies, increased sales,
ahead.
Winning market share in our Shoe Carnival banner during key events was also a critical theme in 2023. Customers were increasingly
periods and contracted during periods in between events. For the two most important event periods in the year, we launched new
grew during Back to School and we increased net sales during the peak December holiday season. Based on that success, the customer






Second, we are leveraging our advanced customer analytics and capabilities to understand which banner in our portfolio can best
satisfy customer needs in each community. We are working hard to further leverage our customer data and develop tests that help
believe this work will help us to best position and segment our banners, based on analytics and deep customer understanding, to further
grow market share and maximize shareholder returns.
Third, in 2024 we are amplifying our 2023 event marketing programs with a slate of new digital and social marketing, combined with

to be the nation   s leading Family Footwear retailer. To our approximately 6,000 dedicated employees, exceptional vendor partners, and
millions and millions of customers who chose us in 2023     Thank You All.
Mark Worden
 • shareholder letter icon 5/14/2024 Letter Continued (Full PDF)
 • stockholder letter icon 5/9/2023 SCVL Stockholder Letter
 • stockholder letter icon More "Apparel Stores" Category Stockholder Letters
 • Benford's Law Stocks icon SCVL Benford's Law Stock Score = 95


SCVL Shareholder/Stockholder Letter Transcript:

2023
Annual
Report

Fin
Financial
Highlights
Shoe Carnival delive
the company   s growth
th and
an profit transformation strategies. Diluted net income per share (EPS) achieved in 2023
represented a compound annual
annu growth rate of 17% since 2018.
$2 68
$2.68
EPS
S
118%
Increase
$1 23
$1.23
EPS Growth
2023 vs 2018
$0 66
$0.66
2013
2018
10 years ago
5 years ago
2023
Net Sales (in millions)
$1 175 9 M
$1,175.9
14%
Increase
$1 029 7 M
$1,029.7
$884 8 M
$884.8
Net Sales Growth
2023 vs 2018
2013
2018
10 years ago
5 years ago
2023
Operating Income (in millions)
88%
$93 5 M
$93.5
Increase
Operating
Income Growth
vs 2018
$43 7 M
$43.7
$49
49.8
8M
2013
2018
10 years ago
5 years ago
2023



Letter to Shareholders
During 2023 we advanced our long-term strategies with the goal to be the nation   s leading Family Footwear retailer. Momentum is
I am encouraged by our team   s progress on so many fronts and would like to take the opportunity to highlight a few
key areas.
Our Shoe Station growth banner attracted new customers, expanded into additional markets, and rapidly grew market share. It has been
banner   s growth potential ahead. The organization achieved full integration ahead of plan, captured targeted synergies, increased sales,
ahead.
Winning market share in our Shoe Carnival banner during key events was also a critical theme in 2023. Customers were increasingly
periods and contracted during periods in between events. For the two most important event periods in the year, we launched new
grew during Back to School and we increased net sales during the peak December holiday season. Based on that success, the customer






Second, we are leveraging our advanced customer analytics and capabilities to understand which banner in our portfolio can best
satisfy customer needs in each community. We are working hard to further leverage our customer data and develop tests that help
believe this work will help us to best position and segment our banners, based on analytics and deep customer understanding, to further
grow market share and maximize shareholder returns.
Third, in 2024 we are amplifying our 2023 event marketing programs with a slate of new digital and social marketing, combined with

to be the nation   s leading Family Footwear retailer. To our approximately 6,000 dedicated employees, exceptional vendor partners, and
millions and millions of customers who chose us in 2023     Thank You All.
Mark Worden



shareholder letter icon 5/14/2024 Letter Continued (Full PDF)
 

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