SHOE CARNIVAL INC Segments Disclosure
Note 6 – Segment Reporting
Shoe Carnival, Inc. has a operating and reportable segment that sells footwear and related merchandise for the family across our retail banners and sales channels. With respect to our omnichannel strategy, our e-commerce sales channel is integrated with our physical store locations across 35 states and Puerto Rico and is fundamentally inseparable in how we serve our target customers.
Our chief operating decision maker (“CODM”) during Fiscal 2025 was our president and . The CODM assessed performance and decided how to allocate resources based on Net Income that also is reported on the
income statement as our consolidated Net Income. The CODM used Net Income to evaluate performance in deciding whether to reinvest profits, facilitate acquisitions or return funds to shareholders through dividends or share repurchases. Net Income was used to monitor budget versus actual results and in competitive analysis by benchmarking to our peers and competitors. The benchmarking analysis and the monitoring of budgeted versus actual results were used in assessing our performance and in establishing management’s compensation.
We have concluded that, on the basis of the principles in FASB ASU 2023-07, Segment Reporting (Topic 280), the expenses below require disclosure under the significant expense principle. The CODM did not review assets in evaluating results. Therefore, such information is not provided. Operating financial results of our segment for fiscal years 2025, 2024 and 2023 are as follows:
(In thousands) |
|
January 31, |
|
|
February 1, |
|
|
February 3, |
|
|||
Net sales |
|
$ |
1,135,324 |
|
|
$ |
1,202,885 |
|
|
$ |
1,175,882 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Merchandise & delivery costs (1) |
|
|
628,916 |
|
|
|
683,816 |
|
|
|
669,629 |
|
Store occupancy costs |
|
|
91,258 |
|
|
|
90,275 |
|
|
|
84,863 |
|
Store expenses (2) |
|
|
160,127 |
|
|
|
163,398 |
|
|
|
157,581 |
|
E-commerce expenses (3) |
|
|
16,368 |
|
|
|
19,104 |
|
|
|
19,430 |
|
Advertising |
|
|
58,747 |
|
|
|
50,533 |
|
|
|
56,272 |
|
Store depreciation and other selling expenses (4) |
|
|
43,605 |
|
|
|
39,947 |
|
|
|
35,034 |
|
General and administrative expenses (5) |
|
|
69,545 |
|
|
|
64,660 |
|
|
|
59,568 |
|
Other segment items (6) |
|
|
0 |
|
|
|
(3,043 |
) |
|
|
0 |
|
Interest income |
|
|
(4,002 |
) |
|
|
(3,605 |
) |
|
|
(2,917 |
) |
Interest expense |
|
|
373 |
|
|
|
314 |
|
|
|
282 |
|
Income tax expense |
|
|
18,118 |
|
|
|
23,720 |
|
|
|
22,792 |
|
Net income |
|
$ |
52,269 |
|
|
$ |
73,766 |
|
|
$ |
73,348 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 26, 2026 | Showing above |
| 2025 | Mar 21, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.