Shoe Carnival Inc. (Evansville, Ind.) said it plans to convert an additional 175 stores to its Shoe Station brand in the coming two years. The retailer made that announcement in the press release for its financial results for the 2024 fiscal year.
That builds on the company’s previously announced plans to convert 25 Shoe Carnivals to Shoe Station, a brand it acquired in late 2021.
“For the past two years, Shoe Station has been a market leader in the Southeast, and, according to industry data, Shoe Station has been the industry’s fastest growing retailer,” the company said in its release. “During the same period, the Shoe Carnival banner and the family footwear industry experienced comparable sales declines.
“The company believes that a national expansion opportunity exists in markets where the customer and/or market characteristics align with the Shoe Station concept. A 10 store in-market test was completed over the past year, where underperforming Shoe Carnival stores were closed and new Shoe Station stores were opened in those markets. The customer response and business results exceeded the company’s success criteria on an aggregated basis with sales and profit contribution over 10% higher at the new Shoe Station stores versus Shoe Carnival stores.”
As of March 20, the company operated 431 stores, consisting of 346 Shoe Carnivals, 57 Shoe Stations and 28 Rogan’s. Once the upcoming phase of conversions is complete, the company expects to operate 218 Shoe Station stores, representing just over half its store fleet.