Shoe Carnival expanding with purchase of another retailer

News

(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.

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories