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Yahoo
8 minutes ago
- Business
- Yahoo
Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the appointment of Jasmine Lau, CPA, as Chief Financial Officer ("CFO") of Group Eleven, replacing Jeannine Webb, effective May 30, 2025. Jasmine is a Vancouver-based Chartered Professional Accountant with over 16 years' experience in the resource sector, having served as the Chief Financial Officer for several mineral exploration companies. She is currently the CFO of Minaurum Gold Inc, Forte Minerals Corp., and Cascadia Minerals Ltd. Prior to that, Jasmine also served as CFO to a various number of other private and public mineral exploration companies. "On behalf of Group Eleven and its Board of Directors, I am very pleased to welcome Jasmine to the team," stated Bart Jaworski, CEO. "Jasmine's appointment brings a wealth of relevant experience and skills to the Company. I would also like to sincerely thank Jeannine Webb for her valuable contributions and dedication to the Company over the past three years." About Group Eleven Resources Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in Ireland. Additional information about the Company is available at ON BEHALF OF THE BOARD OF DIRECTORSBart Jaworski, Executive Officer E: | T: +353-85-833-2463 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. To view the source version of this press release, please visit Sign in to access your portfolio
Malaysian Reserve
13 minutes ago
- Business
- Malaysian Reserve
Class Action Filed Against Napco Security Technologies, Inc. (NSSC) Seeking Recovery for Investors
NEW YORK, May 30, 2025 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in Napco Security Technologies, Inc. ('Napco' or the 'Company') (NASDAQ: NSSC) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Napco investors who were adversely affected by alleged securities fraud between February 5, 2024 and February 3, 2025. Follow the link below to get more information and be contacted by a member of our team: NSSC investors may also contact Joseph E. Levi, Esq. via email at jlevi@ or by telephone at (212) 363-7500. CASE DETAILS: According to the complaint, defendants provided investors with material information concerning Napco's overall expected growth and strength in the Company's hardware division. Defendants' statements included, among other things, confidence in Napco's ability to achieve its fiscal 2026 growth projections on back of its ability to both appropriately forecast and execute upon the alleged demand for its hardware products. On February 3, 2025, Napco announced its financial results for the second quarter of fiscal 2025, revealing a significant reduction in hardware sales for the quarter. The Company attributed the decline 'primarily … to reduced sales from 2 of the company's larger distributors.' As a result of the setback in sales, defendants additionally pulled back their long-term 45% EBITDA margin target, as they 'don't know' if the target can be achieved by the end of fiscal 2026. Following this news, Napco's common stock declined dramatically. From a closing market price of $36.70 per share on January 31, 2024, Napco's stock price fell to $26.93 per share on February 3, 2025, a decline of about 26.62% in the span of just a single day. WHAT'S NEXT? If you suffered a loss in Napco during the relevant time frame, you have until June 24, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT:Levi & Korsinsky, LLP Joseph E. Levi, Korsinsky, Esq.33 Whitehall Street, 17th FloorNew York, NY 10004jlevi@ (212) 363-7500Fax: (212)
Yahoo
16 minutes ago
- Business
- Yahoo
Eos Energy Enterprises, Inc. Announces Pricing of Common Stock Offering
EDISON, N.J., May 30, 2025 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ('Eos' or the 'Company') today announced the pricing of an offering of 18,750,000 shares of common stock at a price to the public of $4.00 per share (the 'Offering'). The Offering is being made pursuant to the Securities Act of 1933, as amended (the 'Securities Act'). The Company has granted the underwriters of the Offering, a 30-day option to purchase up to an additional 2,812,500 shares of common stock, at the public offering price, less the underwriting discounts. The Offering is expected to close on June 2, 2025, subject to customary closing conditions. The net proceeds from the Offering will be $70,500,000 (or $81,075,000 if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts and commissions. The Company intends to use the net proceeds from the Offering, together with the net proceeds from the offering of the notes referred to below, if it is consummated, (i) to repurchase the full $126 million aggregate principal amount outstanding of its 5%/6% Convertible Senior PIK Toggle Note due 2026 in a privately negotiated transaction for approximately $131 million; (ii) to prepay $50 million of outstanding borrowings due under its credit agreement, dated June 21, 2024, by and between Eos and CCM Denali Debt Holdings, LP (the 'Credit Agreement'); and (iii) for general corporate purposes. Upon the prepayment of $50 million of outstanding borrowings under the Credit Agreement, the PIK interest rate under the Credit Agreement will decrease from 15% to 7% and the financial covenants thereunder will be waived until 2027. CCM Denali Equity Holdings, LP has agreed that upon the consummation of the offering it will not transfer any securities issued to it under the Securities Purchase Agreement, dated June 21, 2024, between the Company and CCM Denali Equity Holdings, LP prior to June 21, 2026. In a separate press release, the Company also announced today the pricing of its previously announced private offering of $225,000,000 aggregate principal amount of 6.75% convertible senior notes due 2030 (the 'notes'), plus up to an additional $25,000,000 aggregate principal amount of notes that the initial purchasers of the note offering have the option to purchase from the Company. The issuance and sale of the notes are scheduled to settle on June 3, 2025, subject to customary closing conditions. The completion of the offering of common stock is not contingent on the completion of the offering of the notes, and the completion of the offering of notes is not contingent on the completion of the offering of common stock. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any notes or shares of common stock, if any, issuable upon conversion of the notes. Jefferies and J.P. Morgan acted as joint lead book-running managers for the Offering. TD Cowen and Stifel acted as passive book-runners for the Offering. Johnson Rice & Company acted as a co-manager for the Offering. The Company is conducting the Offering pursuant to an effective shelf registration statement, including a base prospectus, under the Securities Act of 1933, as amended. The Offering is being made only by means of a separate prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to the Offering may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@ and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ Before you invest in the Offering, you should read the applicable prospectus supplement relating to the Offering and accompanying prospectus, the registration statement and the other documents that the Company has filed with the Securities and Exchange Commission as incorporated by reference therein, for more complete information about the Company and the Offering. Investors may obtain these documents for free by visiting the SEC's website at This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Eos Energy Enterprises Eos Energy Enterprises, Inc. is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. Our breakthrough Znyth™ aqueous zinc battery was designed to overcome the limitations of conventional lithium-ion technology. It is safe, scalable, efficient, sustainable, manufactured in the U.S., and the core of our innovative systems that today provides utility, industrial, and commercial customers with a proven, reliable energy storage alternative for 3 to 12-hour applications. Eos was founded in 2008 and is headquartered in Edison, New Jersey. Forward-Looking Statements This press release includes forward-looking statements, including statements regarding the anticipated terms of the notes being offered, the completion, timing and size of the proposed offering and the intended use of the proceeds. Forward-looking statements represent Eos's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including market interest rates, the trading price and volatility of Eos's common stock and risks relating to Eos's business, including those described in periodic reports that Eos files from time to time with the SEC. Eos may not consummate the proposed offering described in this press release and, if the proposed offering are consummated, cannot provide any assurances regarding the final terms of the offering or the notes or its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and Eos does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law. ContactsInvestors: ir@ media@ in to access your portfolio
Yahoo
19 minutes ago
- Business
- Yahoo
Shoe Carnival Reports First Quarter Fiscal 2025 Results
FORT MILL, S.C., May 30, 2025--(BUSINESS WIRE)--Shoe Carnival, Inc. (Nasdaq: SCVL) (the "Company"), a leading retailer of footwear and accessories for the family, today reported results for the first quarter ended May 3, 2025 and reaffirmed its previously issued Fiscal 2025 outlook. First Quarter Fiscal 2025 Highlights Profits outperformed market expectations by over 10 percent with $0.34 EPS achieved. Rebanner strategy delivered double-digit comparable net sales growth and accretive margins. Shoe Station banner net sales grew 4.9 percent while family footwear industry declined. Accelerated expansion plan: Shoe Station to represent over 80 percent of the store fleet by March 2027. Balance sheet strengthened with no debt and over 30 percent additional cash on hand compared to first quarter 2024. "Our first quarter results reflect the continued success of our strategic transformation, with profits outperforming expectations by approximately 10 percent despite the challenging macroeconomic and retail environment," said Mark Worden, President and Chief Executive Officer. "The Shoe Station growth strategy is working exceptionally well, delivering industry-leading sales growth and accretive margins across diverse market types. This consistent outperformance versus both Shoe Carnival and industry trends across all footwear categories has given us the confidence to accelerate our rebanner initiative." Mr. Worden continued, "Today, we're announcing an ambitious expansion of our rebanner strategy, with Shoe Station now expected to represent over 80 percent of our store fleet by March 2027, up from our previous target of 51 percent. We're making these investments from a position of financial strength, with growing cash reserves and no debt. This is a pivotal moment for our company as we transform from a traditional family footwear retailer to a premium brand-focused national leader in footwear." First Quarter Operating Results In first quarter 2025, the Company's Shoe Station banner contributed a 4.9 percent increase in net sales compared to first quarter 2024. These industry-leading results were primarily driven by double-digit comparable stores net sales growth from the Company's rebanner strategy. The Company's Shoe Carnival banner contributed a net sales decline of 10.0 percent. First quarter 2025 net sales from Rogan's, which was acquired on February 13, 2024, were in-line with integration and synergy plans and exceeded $19 million in both first quarter 2025 and first quarter 2024. Total Company net sales in first quarter 2025 declined 7.5 percent to $277.7 million as compared to $300.4 million in first quarter 2024. Comparable stores net sales declined 8.1 percent, of which the Company estimates approximately 1 percent was due to lost sales as impacted by the rebanner strategy. First quarter 2025 gross profit margin was 34.5 compared to 35.6 percent in first quarter 2024. Gross profit margin included a 50 basis point increase in merchandise margin while buying, distribution and occupancy costs decreased gross profit margin by 160 basis points primarily due to deleverage from lower net sales. First quarter 2025 selling, general, and administrative costs ("SG&A") decreased $0.5 million. SG&A increases associated with the rebanner strategy were more than offset by the timing of selling expenses from other stores. As a percent of net sales, SG&A were 30.2 percent in first quarter 2025 compared to 28.1 percent in first quarter 2024, with rebanner investment as the primarily driver of this increase. First quarter 2025 net income was $9.3 million, or $0.34 per diluted share ("EPS"), compared to first quarter 2024 net income of $17.3 million, or $0.63 per diluted share. The Company estimates first quarter 2025 EPS was negatively impacted by approximately $0.15 of rebanner strategy investment, inclusive of store closing costs, amortization of new store construction costs, a four-to-six-week store closure period through each store's grand opening, customer acquisition costs and other costs. Capital Management and Cash Flow The 2024 fiscal year end marked the 20th consecutive year the Company ended a year with no debt, fully funding its operations, acquisitions and investments from operating cash flow. In first quarter 2025, the Company also funded its operations without incurring any debt and growing its cash, cash equivalents and marketable securities $23.5 million compared to balances at the end of first quarter 2024. At the end of first quarter 2025, the Company had approximately $93.0 million available to fund growth objectives. During first quarter 2025, the Company invested $16.8 million in additional merchandise inventory compared to inventories at the end of first quarter 2024. Additional inventory purchases were made in first quarter 2025 in advance of the tariff increases announced on April 2nd. Rebanner-related expense and these accelerated inventory purchases were the primary drivers of negative cash flow from operating activities in first quarter 2025. In first quarter 2025, capital expenditures totaled $13.3 million and primarily reflect the 24 stores rebannered and one new store opened. As of May 3, 2025, the Company had $50 million available for future repurchases under its share repurchase program. During first quarter 2025, the Company did not repurchase any shares. The Company paid a $0.15 per share quarterly cash dividend on April 21, 2025. On an annualized basis, this dividend is a 238 percent increase compared to the rate paid to shareholders five years ago. The dividend paid in first quarter 2025 marked the 11th consecutive year the Company increased its dividend, and the Company has now paid a dividend for 52 consecutive quarters. Store Count As of May 3, 2025, the Company had 429 stores, with 334 Shoe Carnival stores, 67 Shoe Station stores and 28 Rogan's stores. The Shoe Station store count has more than doubled since the end of first quarter 2024. Shoe Station Rebanner Strategy Acceleration Shoe Station has been the industry's fastest growing retailer over the last two years, according to industry data. Over this same period, the Company's Shoe Carnival banner and the family footwear industry have experienced declines. Earlier this year, the Company announced plans to grow its Shoe Station banner from a market leader in the Southeast into a national footwear and accessories leader. As part of this plan, the Company rebannered 10 stores during a test phase in Fiscal 2024 and rebannered 24 stores in first quarter 2025. The Company is accelerating its rebanner strategy and now expects that approximately 120 stores, or 28 percent of the store fleet, to operate as a Shoe Station store by the end of Fiscal 2025. An additional 51 stores are expected to rebanner in Fiscal 2025 (20 in second quarter 2025, 25 in third quarter 2025 and 6 in fourth quarter 2025), with stores expanding into new markets and in markets where the brand is already known. By March 2027, the Company now expects over 80 percent of the current fleet to operate as a Shoe Station store. The Company expects the following prospects and impacts from the rebanner strategy: Significant market share growth in regions where the Company has underperformed with its Shoe Carnival concept or can perform even better under its Shoe Station concept. Significant financial leverage from a more productive store base. Fiscal 2025 rebanner investment impacting operating income in a range of $20 to $25 million, resulting in an approximate $0.65 decline in Fiscal 2025 EPS, of which the Company estimates $0.15 was incurred in first quarter 2025. Recovery of this first-year investment over a two-to-three-year period following a store's grand opening. As Shoe Station stores surpass over half of the store fleet by back-to-school shopping in Fiscal 2026, achievement of overall comparable stores net sales growth in third quarter 2026. As a future phase of the growth strategy, the Company continues to expect to enter new markets where it does not compete today. Fiscal 2025 Outlook Based on first quarter EPS exceeding market expectations, rebanner strategy momentum, and some improvement in macroeconomic uncertainties, the Company reaffirmed its entire Fiscal 2025 outlook and continues to expect the following: Net Sales: $1.15 billion to $1.23 billion, representing a range of down 4 percent to up 2 percent versus Fiscal 2024. GAAP EPS: $1.60 to $2.10, inclusive of the rebanner strategy's initial year costs. Gross Profit Margin: 35 percent to 36 percent. SG&A: $350 million to $360 million. Capital Expenditures: $45 to $60 million. Annual Shareholder Meeting As previously announced, the Company will hold its Annual Meeting of Shareholders at 9:00 a.m. Eastern Time on June 25, 2025. Information about the annual meeting and related material, including the Company's proxy statement and annual report, can be found on the Company's website. Conference Call Today, at 9:00 a.m. Eastern Time, the Company will host a conference call to discuss its first quarter results. Participants can listen to the live webcast of the call by visiting Shoe Carnival's Investors webpage at While the question-and-answer session will be available to all listeners, questions from the audience will be limited to institutional analysts and investors. A replay of the webcast will be available on the Company's website beginning approximately two hours after the conclusion of the conference call and will be archived for one year. About Shoe Carnival Shoe Carnival, Inc. is one of the nation's largest family footwear retailers, offering a broad assortment of dress, casual and athletic footwear for men, women and children with emphasis on national name brands. As of May 30, 2025, the Company operated 429 stores in 35 states and Puerto Rico under its Shoe Carnival, Shoe Station and Rogan's store fronts and offers shopping at and Headquartered in Fort Mill, SC, and with distribution and support operations located in Evansville, IN, Shoe Carnival, Inc. trades on The Nasdaq Stock Market LLC under the symbol SCVL. Press releases and annual reports are available on the Company's website at Cautionary Statement Regarding Forward-Looking Information As used herein, "we", "our" and "us" refer to Shoe Carnival, Inc. This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties, such as statements about our future growth, operations, cash flows and shareholder returns. A number of factors could cause our actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These factors include, but are not limited to: our ability to increase our comparable stores Net Sales and achieve expected operating results from rebannering Shoe Carnival locations into Shoe Station locations within expected time frames, or at all; our ability to achieve expected operating results from, and planned growth of, our Shoe Station banner within expected time frames, or at all; the impact of competition and pricing, including our ability to maintain current promotional intensity levels; changes in the political and economic environments in, the status of trade relations with, and the impact of changes in trade policies and tariffs impacting, China and other countries which are the major manufacturers of footwear; our ability to control costs and meet our labor needs in a rising wage, inflationary, and/or supply chain constrained environment; the effects and duration of economic downturns and unemployment rates; the potential impact of national and international security concerns, including those caused by war and terrorism, on the retail environment; general economic conditions in the areas of the continental United States and Puerto Rico where our stores are located; changes in the overall retail environment and more specifically in the apparel and footwear retail sectors; our ability to successfully utilize the e-commerce sales channel and its impact on traffic and transactions in our physical stores; the success of the open-air shopping centers where many of our stores are located and the impact on our ability to attract customers to our stores; our ability to attract customers to our e-commerce platform and to successfully grow our omnichannel sales; the effectiveness of our inventory management, including our ability to manage key merchandise vendor relationships and direct-to-consumer initiatives; changes in our relationships with other key suppliers; our ability to successfully manage and execute our marketing initiatives and maintain positive brand perception and recognition; our ability to successfully manage our current real estate portfolio and leasing obligations; changes in weather, including patterns impacted by climate change; changes in consumer buying trends and our ability to identify and respond to emerging fashion trends; the impact of disruptions in our distribution or information technology operations including at our distribution center located in Evansville, IN; the impact of natural disasters, public health and political crises, civil unrest, and other catastrophic events on our operations and the operations of our suppliers, as well as on consumer confidence and purchasing in general; the duration and spread of a public health crisis and the mitigating efforts deployed, including the effects of government stimulus on consumer spending; risks associated with the seasonality of the retail industry; the impact of unauthorized disclosure or misuse of personal and confidential information about our customers, vendors and employees, including as a result of a cybersecurity breach; our ability to effectively achieve the operating results from, and maintain the synergies, efficiencies and other benefits gained through, our acquisition strategy, including our recent acquisition of Rogan's; our ability to successfully execute our business strategy, including the availability of desirable store locations at acceptable lease terms, our ability to identify, consummate or effectively integrate future acquisitions, our ability to implement and adapt to new technology and systems, our ability to open new stores in a timely and profitable manner, including our entry into major new markets, and the availability of sufficient funds to implement our business plans; higher than anticipated costs associated with the closing of underperforming stores; the inability of manufacturers to deliver products in a timely manner; an increase in the cost, or a disruption in the flow, of imported goods; the impact of regulatory changes in the United States, including minimum wage laws and regulations, and the countries where our manufacturers are located; the resolution of litigation or regulatory proceedings in which we are or may become involved; continued volatility and disruption in the capital and credit markets; future stock repurchases under our stock repurchase program and future dividend payments; and other factors described in the Company's SEC filings, including the Company's latest Annual Report on Form 10-K. In addition, these forward-looking statements necessarily depend upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors. Accordingly, any forward-looking statements included in this press release do not purport to be predictions of future events or circumstances and may not be realized. Forward-looking statements can be identified by, among other things, the use of forward-looking terms such as "believes," "expects," "aims," "on track," "may," "will," "should," "seeks," "pro forma," "anticipates," "intends" or the negative of any of these terms, or comparable terminology, or by discussions of strategy or intentions. Given these uncertainties, we caution investors not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We disclaim any obligation to update any of these factors or to publicly announce any revisions to the forward-looking statements contained in this press release to reflect future events or developments. Financial Tables Follow SHOE CARNIVAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data) (Unaudited) Thirteen Thirteen Weeks Ended Weeks Ended May 3, 2025 May 4, 2024 Net sales $ 277,715 $ 300,365 Cost of sales (including buying, distribution and occupancy costs) 181,938 193,565 Gross profit 95,777 106,800 Selling, general and administrative expenses 83,812 84,293 Operating income 11,965 22,507 Interest income (1,103 ) (803 ) Interest expense 78 136 Income before income taxes 12,990 23,174 Income tax expense 3,647 5,888 Net income $ 9,343 $ 17,286 Net income per share: Basic $ 0.34 $ 0.64 Diluted $ 0.34 $ 0.63 Weighted average shares: Basic 27,233 27,142 Diluted 27,476 27,408 Cash dividends declared per share $ 0.150 $ 0.135 SHOE CARNIVAL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) May 3, February 1, May 4, 2025 2025 2024 ASSETS Current Assets: Cash and cash equivalents $ 78,476 $ 108,680 $ 56,919 Marketable securities 14,477 14,432 12,555 Accounts receivable 8,745 9,018 5,868 Merchandise inventories 428,424 385,605 411,619 Other 18,509 18,409 17,992 Total Current Assets 548,631 536,144 504,953 Property and equipment – net 178,424 172,806 172,182 Operating lease right-of-use assets 341,815 343,547 345,881 Intangible assets 40,956 40,968 41,001 Goodwill 18,018 18,018 15,223 Other noncurrent assets 12,314 12,650 13,342 Total Assets $ 1,140,158 $ 1,124,133 $ 1,092,582 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 66,592 $ 52,030 $ 71,234 Accrued and other liabilities 24,699 25,382 21,938 Current portion of operating lease liabilities 58,355 53,013 56,025 Total Current Liabilities 149,646 130,425 149,197 Long-term portion of operating lease liabilities 306,987 314,974 313,302 Deferred income taxes 19,624 18,879 15,999 Deferred compensation 9,539 10,011 12,157 Other 781 848 4,123 Total Liabilities 486,577 475,137 494,778 Total Shareholders' Equity 653,581 648,996 597,804 Total Liabilities and Shareholders' Equity $ 1,140,158 $ 1,124,133 $ 1,092,582 SHOE CARNIVAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Thirteen Thirteen Weeks Ended Weeks Ended May 3, 2025 May 4, 2024 Cash Flows From Operating Activities Net income $ 9,343 $ 17,286 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Depreciation and amortization 8,335 7,385 Stock-based compensation 1,546 1,757 Loss on retirement and impairment of assets, net 596 117 Deferred income taxes 745 326 Non-cash operating lease expense 15,876 14,926 Other 317 277 Changes in operating assets and liabilities: Accounts receivable 272 (904 ) Merchandise inventories (42,819 ) (23,387 ) Operating leases (16,789 ) (14,916 ) Accounts payable and accrued liabilities 12,256 7,886 Other 685 6,306 Net cash (used in) provided by operating activities (9,637 ) 17,059 Cash Flows From Investing Activities Purchases of property and equipment (13,346 ) (10,192 ) Investments in marketable securities (678 ) (17 ) Acquisition, net of cash acquired 0 (44,577 ) Net cash used in investing activities (14,024 ) (54,786 ) Cash Flow From Financing Activities Proceeds from issuance of stock 48 39 Dividends paid (4,418 ) (3,705 ) Shares surrendered by employees to pay taxes on stock-based compensation awards (2,173 ) (688 ) Net cash used in financing activities (6,543 ) (4,354 ) Net decrease in cash and cash equivalents (30,204 ) (42,081 ) Cash and cash equivalents at beginning of period 108,680 99,000 Cash and cash equivalents at end of period $ 78,476 $ 56,919 View source version on Contacts Patrick C. EdwardsChief Financial Officer, Treasurer and Secretary(812) 867-4034 (812) 867-6471 Sign in to access your portfolio
Yahoo
20 minutes ago
- Business
- Yahoo
TIAN RUIXIANG Holdings Ltd to Acquire Ucare Inc. in US$150 Million All-Stock Deal, Advancing In-Hospital Health Insurance Strategy
BEIJING, May 30, 2025 (GLOBE NEWSWIRE) -- TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the "Company" or 'TRX'), a China-based insurance broker, today announced plans to acquire 100% of issued and outstanding shares of Ucare Inc. ('Ucare'), the sole operator of China's only cloud-based AI-driven hospital and health insurance risk management platform, in an all-share deal valued at US$150 million. This strategic move aims to unlock new growth opportunities in the health insurance segment. The Company and its wholly-owned subsidiary, VitaCare Limited ('VitaCare') have entered into a share exchange agreement (the 'Agreement') with certain shareholders (the 'Sellers') of Ucare and other parties. Under the Agreement, the Sellers will receive 101,486,575 newly-issued class A ordinary shares ('Shares') of TRX, each with a par value of US$0.025. The number of Shares is calculated based on the weighted average closing price of TRX's Class A ordinary shares over the three months preceding the Agreement, at a per-share price of US$1.478. The Shares will represent approximately 91.75% of the Company's total issued and outstanding Class A ordinary shares and approximately 13.70% of its total voting power upon closing, which is subject to customary conditions. Ucare develops innovative healthcare solutions that enable providers, payers, and institutions to reduce fraud, abuse, waste, and administrative costs. Powered by the largest hospital database, Ucare's cloud-based generative AI platform continuously refines disease models by integrating real-world data, the latest medical guidelines, and real-time intelligence. Ucare's vision is to ease the burden on patients, expand coverage, and ultimately improve access to healthcare for everyone. It currently serves over 4,000 hospitals and has contributed an estimated US$6.82 billion reduction in avoidable healthcare expenditures as of December 2024. For the fiscal year ended October 31, 2024, Ucare reported a net profit of US$0.6 million on revenues of US$5.4 million. This acquisition comes at a time when China's health insurance market is rapidly expanding to complement national health coverage reforms. By integrating Ucare's AI-driven data analytics, institutional channels, and clinical treatment guidance tools, TRX aims to build differentiated health insurance products, strengthen their distribution within hospital systems, and accelerate its transition into a data-powered, platform-based insurance service provider. The transaction is expected to close on or about July 2025. Shares issued to the Sellers will be held in escrow and released based on Ucare achieving a cumulative revenue target of at least RMB150 million over the three years following closing. Post-transaction, Ucare will operate as a wholly-owned subsidiary of VitaCare. Key Ucare management, including Chief Executive Officer Mr. Wei Zhu, will remain in their roles to drive continuity and growth. Mr. Wei Zhu, Chief Executive Officer of Ucare, stated, 'We are excited to join forces with TRX in a transaction that validates our mission and achievements. Over the years, we've built China's leading hospital management platform, powered by proprietary AI algorithms and a deep understanding of healthcare system dynamics. TRX's platform, capital access, and industry network will empower us to scale R&D, integrate the latest generative AI into clinical pathways, and expand our offerings from medical institutions to insurance companies. This marks a pivotal moment in building a unified ecosystem that brings hospitals, insurers, and patients closer together for more efficient, transparent healthcare.' Ms. Sheng Xu, Director, Chairwoman and Chief Executive Officer of TRX, commented, 'This Agreement with Ucare represents a critical acquisition that expands our business channels by adding health insurance offerings that complement our property insurance products. With its unique positioning and first-mover advantage as the sole provider of cloud-based AI solutions for health insurance risk management, Ucare gives us privileged access to healthcare data, decision-makers, and patient journeys. This will significantly enhance our ability to design tailored insurance products，recommend solutions, streamline claims and diversify revenues. We view Ucare not only as a growth engine but as a strategic hub that bridges insurance services with healthcare delivery—an integration we believe will define the next decade of our industry.' About TIAN RUIXIANG Holdings LtdTIAN RUIXIANG Holdings Ltd, headquartered in Beijing, China, is an insurance broker operating in China through its China-based variable interest entity. It distributes a wide range of insurance products, which are categorized into two major groups: (1) property and casualty insurance, such as commercial property insurance, liability insurance, accidental insurance, and automobile insurance; and (2) other types of insurance, such as health insurance, life insurance, and other miscellaneous insurance. About Ucare Inc. develops innovative healthcare solutions that enable providers, payers, and institutions to reduce fraud, abuse, waste, and administrative costs. Powered by the largest hospital database, Ucare's cloud-based generative AI platform continuously refines disease models by integrating real-world data, the latest medical guidelines, and real-time intelligence. Ucare's vision is to ease the burden on patients, expand coverage, and ultimately improve access to healthcare for everyone. Forward-Looking StatementsCertain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review risk factors that may affect its future results in the Company's registration statement and in its other filings with the U.S. Securities and Exchange Commission. For investor and media enquiries, please contact:TIAN RUIXIANG Holdings LtdInvestor Relations DepartmentEmail: ir@ Water Tower ResearchFeifei ShenEmail: feifei@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
