(WEHT) For the first time in its 43 years as one of the nation’s biggest shoe retailers, Shoe Carnival has undergone an acquisition.
Shoe Carnival has bought Shoe Station, a privately held retailer with 21 locations across 5 states in the southeastern United States. The $67 million cash deal was completed on Thursday.
As part of the deal, Shoe Station will be allowed to remain its own brand, headquartered in Mobile, Alabama. This acquisition comes a fiscal quarter for Shoe Carnival that showed net sales hitting an all-time high of $1 billion.