Shoe Carnival, Inc. (SCVL): Modelo de negócios Canvas [Jan-2025 Atualizado]

Entre no mundo da Shoe Carnival, Inc. (SCVL), onde calçados acessíveis encontram inovação em negócios estratégica. Esta potência de varejo criou magistralmente um modelo de negócios que transforma as compras de calçados de uma tarefa mundana em uma experiência emocionante para a família. Ao misturar canais de varejo físico e digital, alavancar parcerias estratégicas e oferecer uma gama diversificada de calçados, o Shoe Carnival se posicionou como um participante dinâmico no cenário de varejo competitivo. Mergulhe mais profundamente para desvendar a intrincada modelo de tela de negócios que impulsiona o sucesso desse varejista de calçados e descubra como eles criaram um nicho único no mercado de calçados.

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: Parcerias -chave

Fabricantes de calçados e fornecedores

A partir de 2023, calçados de origem de carnaval de calçados de vários fabricantes, com parcerias importantes, incluindo:

Fabricante	Volume anual de oferta	Categorias de produtos
Nike, Inc.	1,2 milhão de pares	Calçados atléticos e casuais
Skechers EUA	850.000 pares	Sapatos de conforto e estilo de vida
Grupo Adidas	750.000 pares	Desempenho e calçados atléticos

Designers e marcas de calçados de marca

O Shoe Carnival mantém parcerias estratégicas com várias marcas:

• New Balance
• Conversar
• Steve Madden
• Vans
• Puma

Parceiros de logística e distribuição

A rede de distribuição inclui:

Parceiro	Serviços prestados	Volume anual de remessa
Logística da UPS	Distribuição nacional	4,5 milhões de pacotes
Cadeia de suprimentos da FedEx	Gerenciamento de armazém	3,2 milhões de unidades

Plataformas de tecnologia de comércio eletrônico

Detalhes da parceria digital:

• Shopify Plus: Plataforma de comércio eletrônico primário
• Google Cloud: Infraestrutura em nuvem
• Salesforce Commerce Cloud: Gerenciamento de Experiência do Cliente

Cartão de crédito e empresas de processamento de pagamentos

Parceiro de pagamento	Volume de transação	Valor anual de processamento
Visa	6,3 milhões de transações	US $ 412 milhões
MasterCard	4,7 milhões de transações	US $ 298 milhões
PayPal	1,2 milhão de transações online	US $ 87 milhões

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: Atividades -chave

Vendas de calçados de varejo em lojas físicas

A partir do quarto trimestre de 2023, o Shoe Carnival operava 378 lojas físicas em 33 estados nos Estados Unidos.

Métrica da loja	Número
Total de lojas físicas	378
Estados cobertos	33
Tamanho médio da loja	6.500 pés quadrados.

Varejo online e omnichannel

Em 2023, a plataforma de comércio eletrônico da Shoe Carnival gerou US $ 214,3 milhões em receita, representando 22,4% do total de vendas da empresa.

• Plataforma de comércio eletrônico lançado em 2015
• Aplicativo móvel disponível para iOS e Android
• Frete grátis em pedidos acima de US $ 75

Gerenciamento e compras de inventário

Métrica de inventário	Valor
Valor total de inventário (2023)	US $ 268,4 milhões
Taxa de rotatividade de inventário	2.7x
Contagem média de sku	12.500 produtos exclusivos

Campanhas de marketing e promocionais

As despesas de marketing para 2023 foram de US $ 47,6 milhões, representando 5,2% da receita total.

• Canais de marketing digital
• Publicidade nas mídias sociais
• Campanhas de marketing por email
• Programa de fidelidade com 2,3 milhões de membros

Atendimento ao cliente e gerenciamento de experiência

As operações de atendimento ao cliente incluem canais de suporte on-line e on-line.

Métrica de atendimento ao cliente	Desempenho
Taxa de satisfação do cliente	87.5%
Tempo médio de resposta	24 horas
Taxa de retorno	6.2%

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: Recursos -chave

Extensa rede de lojas de varejo

A partir do quarto trimestre de 2023, o Shoe Carnival operava 378 lojas de varejo em 33 estados nos Estados Unidos. Mágua quadrada total de varejo: 3.191.000 pés quadrados.

Métrica da loja	2023 dados
Total de lojas	378
Estados cobertos	33
Quadra quadrada total de varejo	3.191.000 pés quadrados

Relacionamentos de marca fortes

As principais parcerias da marca incluem:

• Nike
• Adidas
• Skechers
• Conversar
• New Balance

Infraestrutura robusta de comércio eletrônico

Receita de vendas on -line para 2023: US $ 252,1 milhões, representando 21,4% da receita total da empresa.

Métrica de comércio eletrônico	2023 valor
Receita de vendas on -line	US $ 252,1 milhões
Porcentagem da receita total	21.4%

Equipe experiente de gerenciamento de varejo

TEMBRA DE LIDERANÇA PRONTAGEM Média: 12,5 anos na indústria de calçados de varejo.

Sistemas sofisticados de rastreamento de inventário

Valor do inventário em 31 de dezembro de 2023: US $ 356,4 milhões. Cobertura de rastreamento em tempo real: 98,7% do inventário da loja.

Métrica de inventário	2023 dados
Valor total do inventário	US $ 356,4 milhões
Cobertura de rastreamento em tempo real	98.7%

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: proposições de valor

Ampla seleção de calçados acessíveis

A partir do quarto trimestre de 2023, o Shoe Carnival ofereceu aproximadamente 3.500 estilos de calçados diferentes em 266 lojas de varejo. Faixa de preço médio: US $ 29,99 a US $ 89,99.

Categoria de produto	Preço médio	Volume anual de vendas
Calçados atléticos	$49.99	1,2 milhão de pares
Sapatos casuais	$39.99	900.000 pares
Sapatos de vestido	$59.99	450.000 pares

Estratégias de preços competitivos

2023 Dados financeiros revelaram estratégias de preços direcionadas a 15 a 20% inferiores aos principais concorrentes.

• Margem bruta média: 38,7%
• Porcentagem de marcação: 22,3%
• Faixa de desconto promocional: 25-40%

Experiência de compra familiar

O Shoe Carnival opera 266 lojas em 33 estados, com um tamanho médio da loja de 6.500 pés quadrados.

Estilos de sapatos diversos para múltiplos dados demográficos

Faixa etária	Cobertura da linha de produtos	Porcentagem de vendas
Crianças	0-12 anos	28%
Adolescentes	13-19 anos	22%
Adultos	20-55 anos	42%
Sênior	55 anos ou mais	8%

Opções convenientes na loja e online

2023 Vendas de comércio eletrônico: US $ 184,3 milhões, representando 19,6% da receita total.

• Taxa de conversão online: 3,2%
• Tráfego do site móvel: 62%
• Valor médio do pedido on -line: $ 87,50

Shoe Carnival, Inc. (SCVL) - Modelo de Negócios: Relacionamentos do Cliente

Associação do programa de fidelidade

Carnaval de sapatos opera o Programa de recompensas de vantagens de sapatos com as seguintes métricas:

Métrica do programa	Valor
Membros do programa de fidelidade total	3,2 milhões de membros ativos
Taxa anual de compra de repetição anual	42.5%
Gastos médios para membros de fidelidade	US $ 187 por ano

Marketing por e -mail personalizado

Dados de desempenho de marketing por email:

Métrica de marketing por e -mail	Valor
Base de assinante de email	2,8 milhões de assinantes
Taxa aberta	23.6%
Taxa de cliques	8.2%

Engajamento da mídia social

Métricas de plataforma de mídia social:

• Seguidores do Facebook: 425.000
• Seguidores do Instagram: 312.000
• Taxa média de engajamento de mídia social: 3,7%

Atendimento ao cliente na loja

Indicadores de desempenho do atendimento ao cliente:

Métrica de serviço	Valor
Locais de lojas físicas totais	273 lojas
Funcionário médio da loja por local	12-15 funcionários
Pontuação de satisfação do cliente	4.3/5

Suporte de compras digital e físico

Métricas de suporte omnichannel:

• Tráfego do site online: 8,6 milhões de visitantes mensais
• Downloads de aplicativos móveis: 1,2 milhão
• Taxa de conversão online: 3,9%
• Compre on-line, pegue a taxa na loja: 17,5%

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: canais

Lojas de varejo físico

A partir de 2023, o Shoe Carnival operava 378 lojas de varejo em 33 estados nos Estados Unidos. A metragem quadrada total de varejo foi de aproximadamente 2.850.000 pés quadrados.

Métrica da loja	2023 dados
Total de lojas	378
Estados cobertos	33
Quadra quadrada total de varejo	2,850,000

Site oficial de comércio eletrônico

A plataforma de comércio eletrônico do Shoe Carnival gerou US $ 188,3 milhões Nas vendas on -line durante o ano fiscal de 2023, representando 15,2% da receita total da empresa.

Aplicativo de compra móvel

• Aplicativo móvel disponível em plataformas iOS e Android
• Os recursos incluem rastreamento de inventário em tempo real
• Opções de pagamento móvel integradas

Mercados on-line de terceiros

Marketplace	Contribuição de vendas
Amazon	3,7% das vendas digitais
Walmart.com	2,1% das vendas digitais

Comunicações de marketing direto

O Shoe Carnival manteve um banco de dados de clientes de aproximadamente 12,4 milhões de assinantes de e -mail em 2023, com uma taxa média de abertura de e -mail de 22,6%.

Métrica de canal de marketing	2023 dados
Assinantes de email	12,400,000
Taxa de abertura por e -mail	22.6%

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: segmentos de clientes

Compradores de família

O Shoe Carnival tem como alvo compradores de família com uma renda familiar média de US $ 65.000. O varejista oferece faixas de tamanho amplo e estratégias de preços familiares.

Demografia demográfica do cliente	Porcentagem da base total de clientes	Gasto médio por visita
Unidades familiares	42%	$124.50

Consumidores conscientes do orçamento

O Shoe Carnival se concentra em clientes sensíveis ao preço com ofertas de descontos estratégicos.

• Vancial de desconto médio: 30-50% de desconto nos preços de varejo
• A seção de autorização representa 18% da receita total da loja
• Idade mediana do cliente: 35-44 anos

Indivíduos orientados para a moda

O varejista atende a consumidores conscientes das tendências com seleções de calçados contemporâneos.

Segmento de moda	Quota de mercado	Preço médio
Calçados da moda	22%	$79.99

Crianças e Mercado Juvenil

O Shoe Carnival mantém um forte foco nos segmentos de calçados para crianças e jovens.

• O calçado infantil representa 35% do total de vendas
• Taxa de crescimento do segmento de calçados para jovens: 7,2% anualmente
• Preço médio de sapatos para crianças: US $ 34,50

Entusiastas de calçados atléticos e casuais

O varejista oferece opções abrangentes de calçados atléticos e casuais.

Categoria de calçados	Porcentagem de vendas	Gasto médio do cliente
Calçados atléticos	28%	$89.99
Calçados casuais	32%	$59.99

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: estrutura de custos

Operações da loja e aluguel

A partir do ano fiscal de 2023, o Shoe Carnival operava 370 lojas em 35 estados. As despesas totais de ocupação foram de US $ 93,1 milhões no ano, com um aluguel anual médio por loja de aproximadamente US $ 251.351.

Categoria de despesa	Valor ($)
Despesas totais de ocupação	93,100,000
Aluguel anual médio por loja	251,351

Compras de inventário

Em 2023, o custo total de mercadorias do Shoe Carnival foi de US $ 634,2 milhões. A empresa manteve uma estratégia diversificada de fornecimento de inventário com vários fornecedores.

• Porcentagem de custo de mercadoria: 55,4% da receita total
• Taxa de rotatividade de estoque: 3,2 vezes por ano

Salários dos funcionários

As despesas totais de mão -de -obra para o carnaval de calçados no ano fiscal de 2023 foram de US $ 225,6 milhões, cobrindo aproximadamente 5.200 funcionários.

Categoria de despesas com trabalho	Valor ($)
Despesas totais de mão -de -obra	225,600,000
Salário médio anual por funcionário	43,385

Despesas de marketing e publicidade

As despesas de marketing para carnaval de calçados em 2023 totalizaram US $ 42,3 milhões, representando 3,7% da receita total.

• Marketing Digital: US $ 18,5 milhões
• Publicidade tradicional: US $ 23,8 milhões

Manutenção de tecnologia e infraestrutura

Os investimentos em tecnologia e infraestrutura para o carnaval de calçados em 2023 totalizaram US $ 37,8 milhões.

Categoria de despesa de tecnologia	Valor ($)
Desenvolvimento da plataforma de comércio eletrônico	15,200,000
Manutenção de infraestrutura de TI	22,600,000

Shoe Carnival, Inc. (SCVL) - Modelo de negócios: fluxos de receita

Vendas de calçados na loja

Para o ano fiscal de 2023, o Shoe Carnival registrou vendas líquidas totais de US $ 1,18 bilhão, com as vendas físicas de lojas representando uma parcela significativa dessa receita.

Tipo de loja	Número de lojas	Vendas médias por loja
Locais de varejo de carnaval de sapatos	385	US $ 3,07 milhões

Transações de varejo on -line

As vendas de comércio eletrônico para carnaval de calçados no ano fiscal de 2023 representaram aproximadamente 15,5% do total de vendas líquidas, representando US $ 183 milhões em receita on-line.

Autorização e promoções sazonais

• Eventos de venda sazonal geraram aproximadamente US $ 157 milhões em receita
• As vendas de folga contribuíram com aproximadamente 22% da receita total da loja

Vendas de produtos de marca própria

As marcas de marca própria geraram US $ 92,4 milhões em receita, representando 7,8% do total de vendas líquidas para o ano fiscal de 2023.

Programa de fidelidade e receita de associação

Métrica do Programa de Fidelidade	Valor
Membros do programa de fidelidade total	4,2 milhões
Receita do Programa de Fidelidade	US $ 46,5 milhões

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.