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Article Date: February 2024
Word Count: 217

Shoe Carnival Buys 28-Door Family, Work Shoe Retailer


SCVL will pay $45 million from its cash on hand to acquire Rogan Shoes, a 53-year-old family-owned work and family footwear retailer with 28 stores in Wisconsin, Minnesota, and Illinois. Rogans’ back office functions will be integrated with Shoe Station, which Shoe Carnival acquired two years ago. The addition is expected to contribute about $84 million in sales this year and $10 million in operating income, making the deal immediately accretive to fiscal 2024 earnings. SCVL expects another $1.5 million in annual profits from synergies realized over the next two years.

 

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