ICR XChange Coverage: Shoe Carnival
Athletic footwear is 49% of total with 12% children’s athletic, 20% men’s athletic and 17% women’s athletic.++++Nike is largest brand, followed by Skechers. Of non-athletic, 15% of women’s is in private label, none in men’s.++++Primary consumer is soccer mom, followed by Hispanics and African Americans. Nike developed product to appeal to African-Americans.++++Targets $35-65,000 HHI consumer. Priced under DSW and with larger selection.++++Sees consumer continuing to react to promotions.++++In 2012, expects to open 30 new stores and close 5. Plans to continue closing stores where it can’t renegotiate lower rent. So far, has been successful at getting concessions.++++Big initiatives ... Log in to view full article.