![]() After the close of this acquisition, the Company will have more than $100 million in cash on hand, consistent with cash reserves from the same period in fiscal 2020. The transaction is expected to be immediately accretive to diluted net income per share in fiscal 2022, contributing approximately $100 million in incremental net sales, with operating income exceeding 10 percent on a normalized basis. We are delighted to become part of Shoe Carnival, and I cannot wait to partner with Mark and his talented team to unlock more exciting opportunities to come.” “Taken together, the two brands create a winning customer value proposition. “Shoe Carnival brings infrastructure and financial backing to significantly accelerate our Shoe Station brand growth,” said Mr. Brent Barkin will continue to lead Shoe Station while focusing on new business growth opportunities for the combined Company. Barkin, has been with Shoe Station for over twenty years. Barkin, the son of Shoe Station’s founder Terry S. Brent Barkin, will become the Company’s Senior Vice President, New Business Development & Integration, reporting to Mr. Shoe Station’s current President and Chief Executive Officer, G. ![]() ![]() Shoe Station has a strong track record of capitalizing on emerging footwear fashion trends and introducing new brands to its customers. The addition of a new brand and new retail locations to the Shoe Carnival portfolio creates a complementary retail platform to serve a broader customer base across both urban and suburban demographics. With this acquisition, the first in its history, the Company will own and operate Shoe Station’s locations across the Southeast. “Coming on the heels of our best quarter of our best year in our 43-year history, this deal accelerates our journey toward becoming a multi-billion dollar retailer in the years ahead.” “We are excited to welcome Shoe Station to the Shoe Carnival team,” said Mark Worden, Shoe Carnival’s President and Chief Executive Officer. The Shoe Station assets were acquired for $67 million, subject to customary adjustments, funded through cash on hand. (Nasdaq: SCVL) (the “Company”), a leading retailer of footwear and accessories for the family, announced today that it has acquired substantially all of the assets of privately-held, family-owned Shoe Station, Inc., which operates stores in five Southeastern states. The retailer also has supported the University of South Alabama’s Mitchell Cancer Institute for many years.Īlabama Retail Association President Rick Brown said, “Terry Barkin is a retailer of the year EVERY year to his customers, employees and the communities where his stores operate.EVANSVILLE, Ind.-( BUSINESS WIRE)-Shoe Carnival, Inc. Shoe Station also gives back by partnering with Soles4Souls, the American Cancer Society and Distinguished Young Women. We do so by filling our stores with relevant, current merchandise, reordering strong sellers and moving poor performers out quickly through sales and promotions.” “We are indeed proud of (Shoe Station’s) business success and growth from their 1984 startup in Mobile to becoming one of the nation’s largest independent shoe retailers,” said Bob Chappelle, the chamber’s executive vice president.Īccording to Barkin’s Retailer of the Year entry, “our sales per square foot are among the highest in the industry. The Mobile Area Chamber of Commerce also joined in nominating Barkin. “He founded and built a family chain of stores that is one of the largest retailers in Alabama.” Prior to starting Shoe Station, Barkin was an officer for Rich’s department store. Barkin has exemplified the highest qualities in retailing for many, many years,” Wakefield said. Bill Wakefield, president of Anniston-based Wakefield’s and Martin’s Family Clothing, who was the 2011 Bronze Retailer of the Year in the same sales category, nominated Barkin for the award. Shoe Station has 18 stores in five states, including Alabama where it operates eight stores and employs more than 200. Terry Barkin, president of Shoe Station, a Mobile-based regional chain shoe store, earned the Bronze Retailer of the Year Award in the Annual Sales More Than $20 Million category. ![]() This marked the 13th presentation of the Retailer of the Year Awards since 1999. BIRMINGHAM – The Alabama Retail Association, in cooperation with the University of Alabama at Birmingham School of Business, today recognized 18 outstanding Alabama retailers representing 13 retail businesses with operations in 29 Alabama cities and 16 states as “Retailers of the Year.” The presentations were made at The Club in Birmingham during the 2012 Retail Day Luncheon.
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