Net income dropped 46% to $9,343,000 in the first quarter from $17,286,000 on sales that were down 8% to $277,715,000 from $300,365,000, with the bottom line hit by the planned investment to re-banner stores as Shoe Station, and inventory ramp up. Additional inventory has been coming in to get ahead of tariff impacts and potential supply chain disruptions. SCVL reiterated its full-year guidance of $1.15 billion to $1.23 billion in sales, representing a -4% to +2% result, flowing down to EPS between $1.60 to $2.10.

For Q1, enterprise comps were down 8.1%, ... Log in to view full article.