Shoe Carnival Acquires Rogan's Shoes for $45M
Shoe Carnival is expanding with the acquisition of Rogan's Shoes, a midwestern independent shoe retailer with 28 stores in Wisconsin, Minnesota, and Illinois. Shoe Carnival announced the acquisition Tuesday, saying it had purchased Rogan's Shoes for $45 million. The company said the move "advances [its] strategy to be the nation’s leading family footwear retailer" and "immediately positions the company as the market leader in Wisconsin, and it establishes a store base in Minnesota, creating additional expansion opportunities."
Shoe Carnival said this move is expected to bring the combined banner sales to past $200 million in fiscal year 2025.
Total Retail's Take: Shoe Carnival has been working to expand its physical store footprint through various acquisitions for a few years now in an attempt to become the country's leading family footwear retailer. As part of that strategy, it acquired Shoe Station for $67 billion in 2021. The addition of Rogan's Shoes brings Shoe Carnival's total store count to an all-time high of 429. Shoe Carnival has a goal to operate over 500 stores in 2028, according to the release. The retailer's commitment to brick-and-mortar goes against the grain in an increasingly digital landscape, but is working. Finding additional pockets of store growth will continue to be a part of Shoe Carnival's strategy going forward.
