Shoe Station Growth and Expansion
Shoe Station achieved a sales growth of 4.9% and was comp positive in the quarter. The company plans to complete 75 rebanners this year, increasing Shoe Station's store count to 28% of the fleet by the end of fiscal 2025. By March 2027, Shoe Station is expected to represent over 80% of the store fleet.
Profit Outperformance
First quarter profits exceeded expectations by approximately 10%.
Strong Financial Position
The company ended the quarter with $93 million in cash, up over 30% compared to the end of Q1 last year, and maintains a debt-free balance sheet.
Reaffirmed Annual Guidance
The company reaffirmed its annual fiscal 2025 outlook, with net sales projected between $1.15 billion to $1.23 billion and GAAP EPS between $1.60 to $2.10.