Shoe Carnival, Inc. (SCVL): Business Model Canvas

Treten Sie ein in die Welt von Shoe Carnival, Inc. (SCVL), wo erschwingliches Schuhwerk auf strategische Geschäftsinnovation trifft. Dieses führende Einzelhandelsunternehmen hat meisterhaft ein Geschäftsmodell entwickelt, das den Schuheinkauf von einer alltäglichen Aufgabe in ein aufregendes, familienfreundliches Erlebnis verwandelt. Durch die Kombination physischer und digitaler Einzelhandelskanäle, die Nutzung strategischer Partnerschaften und das Angebot eines vielfältigen Schuhsortiments hat sich Shoe Carnival als dynamischer Akteur in der wettbewerbsintensiven Einzelhandelslandschaft positioniert. Tauchen Sie tiefer ein, um das komplexe Geschäftsmodell zu entschlüsseln, das den Erfolg dieses Schuhhändlers ausmacht, und entdecken Sie, wie er sich eine einzigartige Nische im Schuhmarkt geschaffen hat.

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Wichtige Partnerschaften

Schuhhersteller und -lieferanten

Ab 2023 bezog Shoe Carnival Schuhe von mehreren Herstellern, mit wichtigen Partnerschaften, darunter:

Hersteller	Jährliches Liefervolumen	Produktkategorien
Nike, Inc.	1,2 Millionen Paare	Sport- und Freizeitschuhe
Skechers USA	850.000 Paare	Komfort- und Lifestyle-Schuhe
Adidas-Gruppe	750.000 Paare	Performance- und Sportschuhe

Markenschuhdesigner und -marken

Shoe Carnival unterhält strategische Partnerschaften mit mehreren Marken:

• Neue Balance
• Umgekehrt
• Steve Madden
• Vans
• Puma

Logistik- und Vertriebspartner

Das Vertriebsnetz umfasst:

Partner	Erbrachte Dienstleistungen	Jährliches Versandvolumen
UPS Logistik	Bundesweite Verbreitung	4,5 Millionen Pakete
FedEx-Lieferkette	Lagerverwaltung	3,2 Millionen Einheiten

E-Commerce-Technologieplattformen

Details zur digitalen Partnerschaft:

• Shopify Plus: Primäre E-Commerce-Plattform
• Google Cloud: Cloud-Infrastruktur
• Salesforce Commerce Cloud: Kundenerlebnismanagement

Kreditkarten- und Zahlungsabwicklungsunternehmen

Zahlungspartner	Transaktionsvolumen	Jährlicher Verarbeitungswert
Visum	6,3 Millionen Transaktionen	412 Millionen Dollar
Mastercard	4,7 Millionen Transaktionen	298 Millionen Dollar
PayPal	1,2 Millionen Online-Transaktionen	87 Millionen Dollar

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Hauptaktivitäten

Einzelhandelsverkäufe von Schuhen in physischen Geschäften

Im vierten Quartal 2023 betrieb Shoe Carnival 378 physische Einzelhandelsgeschäfte in 33 Bundesstaaten der Vereinigten Staaten.

Store-Metrik	Nummer
Gesamtzahl der physischen Geschäfte	378
Abgedeckte Staaten	33
Durchschnittliche Ladengröße	6.500 Quadratfuß.

Online- und Omnichannel-Einzelhandel

Im Jahr 2023 erwirtschaftete die E-Commerce-Plattform von Shoe Carnival einen Umsatz von 214,3 Millionen US-Dollar, was 22,4 % des Gesamtumsatzes des Unternehmens entspricht.

• E-Commerce-Plattform im Jahr 2015 gestartet
• Mobile App für iOS und Android verfügbar
• Kostenloser Versand für Bestellungen über 75 $

Bestandsverwaltung und Beschaffung

Bestandsmetrik	Wert
Gesamtbestandswert (2023)	268,4 Millionen US-Dollar
Lagerumschlagsquote	2,7x
Durchschnittliche SKU-Anzahl	12.500 einzigartige Produkte

Marketing- und Werbekampagnen

Die Marketingausgaben für 2023 beliefen sich auf 47,6 Millionen US-Dollar, was 5,2 % des Gesamtumsatzes entspricht.

• Digitale Marketingkanäle
• Social-Media-Werbung
• E-Mail-Marketingkampagnen
• Treueprogramm mit 2,3 Millionen Mitgliedern

Kundenservice und Experience Management

Der Kundenservice umfasst In-Store- und Online-Supportkanäle.

Kundendienstmetrik	Leistung
Kundenzufriedenheitsrate	87.5%
Durchschnittliche Reaktionszeit	24 Stunden
Rücklaufquote	6.2%

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Filialnetz

Im vierten Quartal 2023 betrieb Shoe Carnival 378 Einzelhandelsgeschäfte in 33 Bundesstaaten der Vereinigten Staaten. Gesamtverkaufsfläche: 3.191.000 Quadratfuß.

Store-Metrik	Daten für 2023
Gesamtzahl der Geschäfte	378
Abgedeckte Staaten	33
Gesamtaufnahme des Einzelhandelsplatzes	3.191.000 Quadratfuß

Starke Markenbeziehungen

Zu den wichtigsten Markenpartnerschaften gehören:

• Nike
• Adidas
• Skechers
• Umgekehrt
• Neue Balance

Robuste E-Commerce-Infrastruktur

Online-Umsatz für 2023: 252,1 Millionen US-Dollar, was 21,4 % des Gesamtumsatzes des Unternehmens entspricht.

E-Commerce-Metrik	Wert 2023
Online-Verkaufserlöse	252,1 Millionen US-Dollar
Prozentsatz des Gesamtumsatzes	21.4%

Erfahrenes Einzelhandelsmanagementteam

Durchschnittliche Amtszeit des Führungsteams: 12,5 Jahre im Schuheinzelhandel.

Ausgefeilte Systeme zur Bestandsverfolgung

Inventarwert zum 31. Dezember 2023: 356,4 Millionen US-Dollar. Echtzeit-Tracking-Abdeckung: 98,7 % des Ladenbestands.

Bestandsmetrik	Daten für 2023
Gesamtbestandswert	356,4 Millionen US-Dollar
Echtzeit-Tracking-Abdeckung	98.7%

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Wertversprechen

Große Auswahl an erschwinglichen Schuhen

Im vierten Quartal 2023 bot Shoe Carnival rund 3.500 verschiedene Schuhmodelle in 266 Einzelhandelsgeschäften an. Durchschnittliche Preisspanne: 29,99 $ bis 89,99 $.

Produktkategorie	Durchschnittspreis	Jährliches Verkaufsvolumen
Sportschuhe	$49.99	1,2 Millionen Paare
Freizeitschuhe	$39.99	900.000 Paare
Abendschuhe	$59.99	450.000 Paare

Wettbewerbsfähige Preisstrategien

Die Finanzdaten für 2023 zeigten, dass Preisstrategien darauf abzielen, 15–20 % unter denen der großen Wettbewerber zu liegen.

• Durchschnittliche Bruttomarge: 38,7 %
• Abschlagsprozentsatz: 22,3 %
• Aktionsrabattbereich: 25–40 %

Familienfreundliches Einkaufserlebnis

Shoe Carnival betreibt 266 Geschäfte in 33 Bundesstaaten mit einer durchschnittlichen Ladengröße von 6.500 Quadratmetern.

Verschiedene Schuhstile für unterschiedliche Bevölkerungsgruppen

Altersgruppe	Abdeckung der Produktlinie	Prozentsatz des Umsatzes
Kinder	0-12 Jahre	28%
Teenager	13-19 Jahre	22%
Erwachsene	20-55 Jahre	42%
Senior	55+ Jahre	8%

Bequeme Einkaufsmöglichkeiten im Laden und online

E-Commerce-Umsatz 2023: 184,3 Millionen US-Dollar, was 19,6 % des Gesamtumsatzes entspricht.

• Online-Conversion-Rate: 3,2 %
• Mobiler Website-Traffic: 62 %
• Durchschnittlicher Online-Bestellwert: 87,50 $

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Kundenbeziehungen

Mitgliedschaft im Treueprogramm

Shoe Carnival betreibt die Shoe Perks Rewards-Programm mit folgenden Kennzahlen:

Programmmetrik	Wert
Mitglieder des Total Loyalty-Programms	3,2 Millionen aktive Mitglieder
Jährliche Wiederholungskaufrate	42.5%
Durchschnittliche Ausgaben von Treuemitgliedern	187 $ pro Jahr

Personalisiertes E-Mail-Marketing

Leistungsdaten für E-Mail-Marketing:

E-Mail-Marketing-Metrik	Wert
E-Mail-Abonnentenbasis	2,8 Millionen Abonnenten
Öffnungsrate	23.6%
Klickrate	8.2%

Social-Media-Engagement

Kennzahlen der Social-Media-Plattform:

• Facebook-Follower: 425.000
• Instagram-Follower: 312.000
• Durchschnittliche Social-Media-Engagement-Rate: 3,7 %

Kundendienst im Geschäft

Leistungsindikatoren für den Kundenservice:

Servicemetrik	Wert
Gesamtzahl der physischen Filialstandorte	273 Geschäfte
Durchschnittliches Filialpersonal pro Standort	12-15 Mitarbeiter
Kundenzufriedenheitswert	4.3/5

Unterstützung beim digitalen und physischen Einkaufen

Kennzahlen zur Omnichannel-Unterstützung:

• Online-Website-Traffic: 8,6 Millionen monatliche Besucher
• Mobile App-Downloads: 1,2 Millionen
• Online-Conversion-Rate: 3,9 %
• Online kaufen, im Geschäft abholen. Rate: 17,5 %

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Kanäle

Physische Einzelhandelsgeschäfte

Im Jahr 2023 betrieb Shoe Carnival 378 Einzelhandelsgeschäfte in 33 Bundesstaaten der Vereinigten Staaten. Die gesamte Verkaufsfläche betrug etwa 2.850.000 Quadratmeter.

Store-Metrik	Daten für 2023
Gesamtzahl der Geschäfte	378
Abgedeckte Staaten	33
Gesamtaufnahme des Einzelhandelsplatzes	2,850,000

Offizielle E-Commerce-Website

Die E-Commerce-Plattform von Shoe Carnival wurde erstellt 188,3 Millionen US-Dollar im Online-Verkauf im Geschäftsjahr 2023, was 15,2 % des Gesamtumsatzes des Unternehmens entspricht.

Mobile Shopping-Anwendung

• Mobile App verfügbar auf iOS- und Android-Plattformen
• Zu den Funktionen gehört die Bestandsverfolgung in Echtzeit
• Integrierte mobile Zahlungsmöglichkeiten

Online-Marktplätze von Drittanbietern

Marktplatz	Verkaufsbeitrag
Amazon	3,7 % des digitalen Umsatzes
Walmart.com	2,1 % des digitalen Umsatzes

Direktmarketing-Kommunikation

Shoe Carnival unterhielt im Jahr 2023 eine Kundendatenbank mit etwa 12,4 Millionen E-Mail-Abonnenten mit einer durchschnittlichen E-Mail-Öffnungsrate von 22,6 %.

Marketingkanal-Metrik	Daten für 2023
E-Mail-Abonnenten	12,400,000
E-Mail-Öffnungsrate	22.6%

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Kundensegmente

Familienkäufer

Shoe Carnival richtet sich an Familienkäufer mit einem durchschnittlichen Haushaltseinkommen von 65.000 US-Dollar. Der Einzelhändler bietet große Größensortimente und familienfreundliche Preisstrategien.

Kundendemografie	Prozentsatz des gesamten Kundenstamms	Durchschnittliche Ausgaben pro Besuch
Familieneinheiten	42%	$124.50

Budgetbewusste Verbraucher

Shoe Carnival konzentriert sich mit strategischen Rabattangeboten auf preissensible Kunden.

• Durchschnittlicher Rabattbereich: 30–50 % Rabatt auf die Einzelhandelspreise
• Der Ausverkaufsbereich macht 18 % des gesamten Filialumsatzes aus
• Durchschnittsalter der Kunden: 35–44 Jahre

Modeorientierte Menschen

Der Einzelhändler bedient trendbewusste Verbraucher mit zeitgemäßen Schuhsortimenten.

Modesegment	Marktanteil	Durchschnittlicher Preispunkt
Trendige Schuhe	22%	$79.99

Kinder- und Jugendmarkt

Shoe Carnival konzentriert sich weiterhin stark auf Kinder- und Jugendschuhsegmente.

• Kinderschuhe machen 35 % des Gesamtumsatzes aus
• Wachstumsrate im Jugendschuhsegment: 7,2 % jährlich
• Durchschnittlicher Kinderschuhpreis: 34,50 $

Liebhaber von Sport- und Freizeitschuhen

Der Einzelhändler bietet ein umfassendes Angebot an Sport- und Freizeitschuhen.

Kategorie „Schuhe“.	Verkaufsprozentsatz	Durchschnittliche Kundenausgaben
Sportschuhe	28%	$89.99
Freizeitschuhe	32%	$59.99

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Kostenstruktur

Ladenbetrieb und Miete

Im Geschäftsjahr 2023 betrieb Shoe Carnival 370 Geschäfte in 35 Bundesstaaten. Die Gesamtkosten für die Belegung beliefen sich in diesem Jahr auf 93,1 Millionen US-Dollar, bei einer durchschnittlichen Jahresmiete pro Geschäft von etwa 251.351 US-Dollar.

Ausgabenkategorie	Betrag ($)
Gesamtbelegungskosten	93,100,000
Durchschnittliche Jahresmiete pro Geschäft	251,351

Bestandsbeschaffung

Im Jahr 2023 betrugen die Gesamtkosten für die Waren von Shoe Carnival 634,2 Millionen US-Dollar. Das Unternehmen verfolgte eine vielfältige Bestandsbeschaffungsstrategie mit mehreren Lieferanten.

• Prozentsatz der Warenkosten: 55,4 % des Gesamtumsatzes
• Lagerumschlagsquote: 3,2 Mal pro Jahr

Mitarbeiterlöhne

Die gesamten Arbeitskosten für Shoe Carnival beliefen sich im Geschäftsjahr 2023 auf 225,6 Millionen US-Dollar und deckten etwa 5.200 Mitarbeiter ab.

Kategorie „Arbeitskosten“.	Betrag ($)
Gesamter Arbeitsaufwand	225,600,000
Durchschnittlicher Jahreslohn pro Mitarbeiter	43,385

Marketing- und Werbekosten

Die Marketingausgaben für Shoe Carnival beliefen sich im Jahr 2023 auf insgesamt 42,3 Millionen US-Dollar, was 3,7 % des Gesamtumsatzes entspricht.

• Digitales Marketing: 18,5 Millionen US-Dollar
• Traditionelle Werbung: 23,8 Millionen US-Dollar

Wartung von Technologie und Infrastruktur

Die Technologie- und Infrastrukturinvestitionen für Shoe Carnival im Jahr 2023 beliefen sich auf 37,8 Millionen US-Dollar.

Kategorie der Technologieausgaben	Betrag ($)
Entwicklung einer E-Commerce-Plattform	15,200,000
Wartung der IT-Infrastruktur	22,600,000

Shoe Carnival, Inc. (SCVL) – Geschäftsmodell: Einnahmequellen

Schuhverkauf im Laden

Für das Geschäftsjahr 2023 meldete Shoe Carnival einen Gesamtnettoumsatz von 1,18 Milliarden US-Dollar, wobei die Verkäufe in physischen Geschäften einen erheblichen Teil dieses Umsatzes ausmachten.

Geschäftstyp	Anzahl der Geschäfte	Durchschnittlicher Umsatz pro Geschäft
Schuhkarneval-Einzelhandelsstandorte	385	3,07 Millionen US-Dollar

Online-Einzelhandelstransaktionen

Die E-Commerce-Umsätze von Shoe Carnival machten im Geschäftsjahr 2023 etwa 15,5 % des gesamten Nettoumsatzes aus, was einem Online-Umsatz von 183 Millionen US-Dollar entspricht.

Ausverkauf und saisonale Sonderangebote

• Saisonale Verkaufsveranstaltungen generierten einen Umsatz von rund 157 Millionen US-Dollar
• Ausverkaufsverkäufe trugen rund 22 % zum gesamten Filialumsatz bei

Verkauf von Private-Label-Produkten

Handelsmarken erwirtschafteten einen Umsatz von 92,4 Millionen US-Dollar, was 7,8 % des gesamten Nettoumsatzes für das Geschäftsjahr 2023 entspricht.

Treueprogramm und Mitgliedschaftseinnahmen

Metrik des Treueprogramms	Wert
Mitglieder des Total Loyalty-Programms	4,2 Millionen
Einnahmen aus dem Treueprogramm	46,5 Millionen US-Dollar

Shoe Carnival, Inc. (SCVL) - Canvas Business Model: Value Propositions

Shoe Station: Curated, premium brand assortment with elevated service

Shoe Station is positioned to capture the higher-income customer segment. This banner achieved net sales growth of 5.3 percent in the third quarter of fiscal 2025, compared to the Shoe Carnival banner's decline of 5.2 percent in the same period. Shoe Station product margins expanded by 260 basis points in Q3 2025, reflecting the favorable mix shift toward merchandise preferred by its customers. The company is accelerating this banner, projecting it to represent 120 stores, or 28 percent of the total fleet, by the end of fiscal 2025, up from 42 stores at the start of the year. The long-term goal is for Shoe Station to represent well over 90 percent of the fleet before the end of Fiscal 2028.

The value proposition is supported by clear performance metrics:

• Shoe Station comparable store sales showed a mid-single digit increase in Q3 2025.
• Shoe Station delivered 8 percent comparable sales growth year-to-date August 2025.
• The banner is expected to unlock an estimated $20 million in annual cost savings over time.

Legacy Shoe Carnival: Value-driven, promotional shopping experience for the family

The legacy Shoe Carnival banner serves the price-sensitive family footwear market. In the third quarter of fiscal 2025, Shoe Carnival net sales declined by 5.2 percent, with comparable store sales down mid-single digits. This banner's performance contrasts with the Shoe Station banner, which is growing. The overall company gross profit margin for Q3 2025 was 37.6 percent, expanding 160 basis points compared to the prior year, showing the impact of the mix shift away from the value-focused banner.

The core customer engagement for the value segment is driven by the loyalty program:

Metric	Amount/Percentage
Shoe Perks Loyalty Members	Over 26.3 million
Loyalty Member Share of Comp Net Sales	Roughly 67 percent
Full Year Fiscal 2025 Net Sales Guidance (Midpoint)	$1.135 billion

Broad selection of dress, casual, and athletic footwear

Shoe Carnival, Inc. offers a broad assortment across key footwear categories for men, women, and children. The company's total net sales guidance for the full fiscal year 2025 is between $1.12 billion and $1.15 billion. The company is maintaining inventory levels strategically; inventory increased 5 percent versus the prior year as of the end of the second quarter 2025 to ensure availability on key items during peak selling periods.

Convenience of multi-channel shopping (in-store and online)

The convenience proposition is delivered through a physical footprint and digital presence. As of August 2, 2025, the company operated 428 stores across 35 states and Puerto Rico under its various store fronts. The online channel, primarily shoecarnival.com, generated annual revenues of $361 million in 2024. For November 2025, revenues on the domain were reported at $33 million.

The multi-channel strategy includes:

• Total store fleet size as of Q3 2025: 428 stores.
• Projected working capital reduction from simplification: $100 million.
• Rebanner investment for fiscal 2025 capital expenditures: $30 to $35 million.

Finance: draft 13-week cash view by Friday.

Shoe Carnival, Inc. (SCVL) - Canvas Business Model: Customer Relationships

You're looking at how Shoe Carnival, Inc. manages its connection with customers right now, late in 2025. The relationship strategy is clearly bifurcated, heavily favoring the higher-income customer base found in the Shoe Station banner over the legacy Shoe Carnival banner.

Loyalty program for repeat purchases and data capture

The Shoe Perks loyalty program remains a core mechanism for data capture and driving repeat business, though the focus is shifting as the banner consolidation progresses. The program has seen significant scale in the past, with one year showing active buyers increasing by 138% and the email file growing by more than 270%. Members of Shoe Perks typically spend nearly 30% more than non-members. As of the end of the third quarter of Fiscal 2025, the Company had 428 stores in operation, and the success of these loyalty efforts directly informs the targeted marketing for the remaining Shoe Carnival banner locations.

Self-service model in legacy stores with in-store promotions

The traditional Shoe Carnival banner stores represent the self-service model, which is currently experiencing significant customer pressure. In the third quarter of Fiscal 2025, Shoe Carnival net sales declined 5.2%, with comparable store sales down a mid-single digit percentage. This banner's performance highlights continued pressure on lower-income consumers, those earning under $40,000 annually. The in-store promotion model, historically featuring the carnival wheel discount, is still present but is being de-emphasized as the company pivots its capital and focus. The performance gap between the two banners in Q3 2025 was more than 10.5 percentage points.

Elevated, service-focused experience in Shoe Station locations

The Shoe Station locations embody the elevated, service-focused experience, targeting a higher-income customer. This banner is the engine of current growth and margin improvement. For the third quarter of Fiscal 2025, Shoe Station net sales grew 5.3%, and its product margins expanded by 260 basis points. Through year-to-date August of Fiscal 2025, the Shoe Station rebanner strategy delivered 8% comparable sales growth. This success is attributed to a favorable mix shift toward merchandise preferred by Shoe Station's higher-income customers. The company has a clear goal to have well over 90% of its fleet operating as Shoe Station before the end of Fiscal 2028.

The divergent performance between the two banners dictates the customer relationship strategy moving forward:

Metric	Shoe Station Banner (Higher-Income Focus)	Shoe Carnival Banner (Legacy/Lower-Income Focus)
Q3 2025 Net Sales Growth	5.3%	Declined 5.2%
Q3 2025 Product Margin Change	Expanded 260 basis points	Implied lower margin/pressure
Total Stores (as of Q3 2025)	144 locations	284 locations
Inventory Investment Reduction Goal	Requires 20 to 25% less inventory per store	Represents the higher inventory model being phased out

Digital-first marketing to optimize ad spend and retention

The marketing approach is increasingly digital-first to optimize ad spend, which is intrinsically linked to the Shoe Perks loyalty base. The company uses platforms like Salesforce Customer 360 for Retail to personalize marketing across all channels. This includes driving engagement through digital promotions, such as a 'spin the virtual wheel' experience via SMS short code, which then drives traffic both online and back in-store. Confirmation emails now feature AI-powered, personalized recommendations based on the shopper's profile. The overall strategy is to use digital tools to enhance the seamless multi-channel experience, which is critical for retaining the high-value loyalty members.

• Rebanner investments in Fiscal 2025 were estimated to impact EPS by approximately $0.58 year-to-date Q3 2025.
• The company expects to free up $100 million in working capital through inventory reduction over the next two years as Shoe Station becomes dominant.
• The company completed 101 store rebanners to Shoe Station during Fiscal 2025 through the third quarter.
• The goal is for 51% of the fleet to operate as Shoe Station by the Back-to-School season in 2026.

Finance: draft inventory reduction impact analysis on Q4 margin by next Tuesday.

Shoe Carnival, Inc. (SCVL) - Canvas Business Model: Channels

You're looking at how Shoe Carnival, Inc. gets its product to the customer, and right now, it's a story of physical footprint consolidation driving digital presence.

The primary channel remains the physical retail store network. As of November 20, 2025, Shoe Carnival, Inc. operated a total of 428 stores across 35 states and Puerto Rico. This network is actively being streamlined under the Shoe Station banner, which represented 144 stores as of that date. This means the legacy/other banners, primarily Shoe Carnival and the recently integrated Rogan's Shoes, account for the remaining 284 stores. The company is aggressively moving toward a majority Shoe Station fleet, expecting well over 90 percent of its fleet to operate under that banner before the end of Fiscal 2028.

The digital channel is critical, supporting the physical stores and capturing direct-to-consumer sales through two main e-commerce platforms:

• shoecarnival.com
• shoestation.com

The third quarter of Fiscal 2025 saw net sales of $297.2 million reported from these channels and stores combined. For the full Fiscal 2025 year, the company reconfirmed its revenue guidance at the midpoint of $1.14 billion.

The mobile presence is tied directly to customer relationship management. The company supports its loyalty program and promotions through a dedicated mobile app, which helps drive traffic to both the physical and digital touchpoints.

Supporting this entire 428-store network is the logistics backbone. Shoe Carnival, Inc. maintains significant distribution and support operations located in Evansville, IN. The company completed the integration of its 28-store Rogan's acquisition into the Shoe Station banner in October 2025, with results reported under Shoe Station starting in Q4 FY25.

Here's a snapshot of the store fleet composition as of late November 2025, reflecting the ongoing transformation:

Channel Component	Specific Count/Metric (as of Nov 2025)	Context/Detail
Total Physical Stores	428	Total operating stores in 35 states and Puerto Rico
Shoe Station Stores	144	Represents 34 percent of the total fleet as of November 20, 2025
Legacy/Other Stores	284	Implied count: Total Stores (428) minus Shoe Station Stores (144)
E-commerce Sites	2	shoecarnival.com and shoestation.com
Q3 FY2025 Net Sales (Total)	$297.2 million	Combined sales from stores and e-commerce
Distribution Hub Location	Evansville, IN	Location for distribution and support operations

The capital expenditure for the year-to-date period totaled $38.3 million, which was primarily supporting these rebannered stores.

Shoe Carnival, Inc. (SCVL) - Canvas Business Model: Customer Segments

You're looking at the customer base as Shoe Carnival, Inc. actively pivots its fleet structure. The data from the third quarter of fiscal year 2025, ending November 1, 2025, shows a clear divergence in performance between the legacy and growth banners, which directly reflects the segments they are targeting.

Higher-income consumers (median HHI $60,000-$100,000) seeking premium brands

The Shoe Station banner is clearly winning with this group. Shoe Station's core customer base has a median household income (HHI) in the range of $60,000-$100,000. Shoe Station net sales grew 5.3% in the third quarter of fiscal 2025. This segment's preference for premium products is driving a merchandise margin improvement of 190 basis points across the company, largely due to a favorable mix shift toward these shoppers. The product margin expansion specifically for the Shoe Station banner was 260 basis points in Q3 2025.

Traditional, lower-income, price-sensitive family footwear shoppers

This segment is tied to the traditional Shoe Carnival banner, and the economic pressure is evident in the results. The Shoe Carnival banner saw its net sales decline by 5.2% in the third quarter of fiscal 2025. Comparable store sales for the Shoe Carnival banner were down mid-single digits during that same period. The company is intentionally moving away from chasing traffic from this segment to maintain pricing discipline.

The shift is stark when you compare the banners' recent performance. Here's the quick math on the banner split as of the third quarter of fiscal 2025:

Banner Segment	Q3 2025 Net Sales Change (vs. prior year)	Comparable Sales Change (Q3 2025)	Store Count (as of Nov 20, 2025)
Shoe Station (Targeting Higher-Income)	5.3% Growth	Mid-single digit Increase	144 stores (34% of fleet)
Shoe Carnival (Targeting Lower-Income)	5.2% Decline	Mid-single digit Decline	313 stores (as of May 3, 2025)

Customers seeking athletic, casual, and work footwear (Rogan's integration)

The acquisition of Rogan's Shoes, which was for $45 million in cash, is being fully integrated into the Shoe Station banner. Rogan's generated over $21 million in net sales in the third quarter of fiscal 2025, which was in line with integration plans. This integration is designed to capture customers seeking work and family footwear, as Rogan's established a clear market leadership position in Wisconsin for that assortment. The Shoe Station banner, which now includes Rogan's as of October 2025, saw low-twenties growth in the adult athletics category during August 2025. The company expects to surpass 215 Shoe Station stores by Back-to-School 2026, which will represent 51% of the fleet.

Back-to-School shoppers, a critical seasonal segment

This period is vital, driving approximately 25% of Shoe Carnival, Inc.'s annual profits. The company achieved positive comparable store sales and margin expansion across all banners during the August 2025 Back-to-School period. This success accelerated the overall transformation timeline. The company's total store portfolio stood at 428 locations as of November 20, 2025. The strategic goal is to have more than 90% of stores operating under the Shoe Station brand before the end of fiscal year 2028.

The key customer groups and their recent performance metrics include:

• The Shoe Station banner delivered 8% comparable sales growth year-to-date August 2025.
• The company is targeting 145 Shoe Station locations by the end of fiscal 2025.
• The Q2 2024 Back-to-School season drove net sales to $332.7 million.
• The company expects to exceed 500 total stores by 2028.

Shoe Carnival, Inc. (SCVL) - Canvas Business Model: Cost Structure

The Cost Structure for Shoe Carnival, Inc. centers heavily on inventory acquisition and the operational costs associated with its physical retail footprint, which is actively being transformed.

The company operated a fleet of 428 stores as of September 4, 2025, spanning Shoe Carnival, Shoe Station, and Rogan\'s banners.

Cost of Goods Sold (COGS) for inventory procurement is reflected in the Gross Profit Margin. The reaffirmed Fiscal 2025 outlook projected a Gross Profit Margin between 35 percent to 36 percent. For the third quarter of Fiscal 2025, the reported Gross Profit Margin was 37.6 percent.

Store operating expenses (rent, utilities, payroll) for 428 stores are captured within the broader Selling, General, and Administrative expenses, as specific breakdowns for rent, utilities, and payroll are not explicitly itemized separately from the total SG&A guidance.

The Fiscal 2025 outlook for Selling, General, and Administrative (SG&A) expenses was projected to be between $350 million to $360 million. As a point of comparison, SG&A in the fourth quarter of Fiscal 2024 was $77.6 million.

The aggressive Shoe Station strategic rebanner investment costs are a significant near-term cost factor. The first-year investment for rebanner strategy is forecasted to decrease Fiscal 2025 operating income by a range of $20 to $25 million. Through the end of the August fiscal month, the total investment year-to-date was $24.4 million.

Here's a look at the key financial figures impacting the Cost Structure for Fiscal 2025:

Cost Component	Financial Metric/Outlook	Value/Range
Total Store Count (Late 2025)	Number of Stores Operated	428
SG&A Expense	Fiscal 2025 Outlook	$350 million to $360 million
Rebanner Investment Impact	Forecasted Decrease in FY 2025 Operating Income	$20 million to $25 million
Rebanner Investment Year-to-Date	Investment through August Fiscal Month End	$24.4 million
Gross Profit Margin	FY 2025 Outlook Range	35 percent to 36 percent
Gross Profit Margin	Reported Q3 Fiscal 2025	37.6 percent

The rebanner investment costs include amortization of new store construction costs, store closing costs, customer acquisition costs, and sales reductions during the four-to-six-week closure period for each conversion.

Shoe Carnival, Inc. (SCVL) - Canvas Business Model: Revenue Streams

The revenue streams for Shoe Carnival, Inc. are primarily driven by the sale of footwear and accessories across its physical store fleet and digital channels, with a strategic shift favoring the higher-margin Shoe Station banner.

Net Sales from in-store purchases of footwear and accessories are best understood through the performance of the operating banners as of the third quarter of Fiscal 2025. The Shoe Station banner showed strength, with net sales growing 5.3 percent in the third quarter of 2025, inclusive of a mid-single digit comparable store increase. In contrast, the legacy Shoe Carnival banner net sales declined 5.2 percent, with comparable store sales down mid-single digits in the same period. The recently integrated Rogan's generated more than $21 million in net sales for the third quarter of 2025. For the nine months ended November 01, 2025, total company net sales reached $881.26 million. The overall comparable store sales for the company declined 2.7 percent in Q3 2025.

E-commerce sales via company websites represent a distinct revenue stream. For the full year 2024, sales on shoecarnival.com amounted to $361 million. The projection for the largest online store in 2025 indicated a change of <0% compared to 2024. In November 2025, revenues on shoecarnival.com were estimated at $33 million.

The Full-year 2025 Net Sales forecast was updated following Q2 results to be in a range of $1.12 billion to $1.15 billion. This compares to an earlier forecast range of $1.15 billion to $1.23 billion. The midpoint of the reaffirmed guidance is $1.14 billion.

Higher average ticket prices and accretive margins from Shoe Station sales are a key driver of profitability within the revenue structure. In the third quarter of 2025, Shoe Station product margins expanded 260 basis points. This favorable mix shift toward Shoe Station customers contributed to an overall merchandise margin improvement of 190 basis points for the company, even as the overall gross profit margin stood at 37.6 percent, expanding 160 basis points year-over-year. The company is accelerating the rebanner strategy, aiming for well over 90 percent of the fleet to operate as Shoe Station before the end of Fiscal 2028.

Here's a quick look at key Q3 2025 financial metrics related to revenue quality:

Metric	Value (Q3 2025)	Year-over-Year Change
Total Net Sales	$297.2 million	Down 3.2 percent
Gross Profit Margin	37.6 percent	Expanded 160 basis points
Shoe Station Net Sales Growth	5.3 percent	Growth
Shoe Station Product Margin Expansion	260 basis points	Expansion

The strategic focus is clear, as shown by the banner performance:

• Shoe Station net sales grew 5.3 percent in Q3 2025.
• Shoe Carnival net sales declined 5.2 percent in Q3 2025.
• Merchandise margin improved 190 basis points overall.
• Shoe Station comparable store sales saw a mid-single digit increase.