Shoe Carnival, Inc. (SCVL): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how Shoe Carnival, Inc. (SCVL), manages to stay a step ahead in the competitive family footwear market? Founded in 1978 by David Russell, what started as a single store named 'Shoe Biz' in Evansville, Indiana, has grown into a major retailer with 431 stores across 36 states and Puerto Rico. Keep reading to uncover the journey of SCVL, from its humble beginnings to its current position, exploring its ownership structure, its guiding mission, and the unique strategies that drive its revenue and success, including how it achieved $1.20 billion in revenue for fiscal year 2024.

Shoe Carnival, Inc. (SCVL) History

Shoe Carnival, Inc.'s Founding Timeline

Year established

The company was established in 1978.

Original location

The first store was opened in Evansville, Indiana.

Founding team members

The founder of the company was David Russell.

Initial capital/funding

Information regarding the initial capital and funding for Shoe Carnival is not available in the provided context.

Shoe Carnival, Inc.'s Evolution Milestones

Shoe Carnival, Inc.'s Transformative Moments

• Strategic Acquisitions: The acquisition of Shoe Station in November 2021 significantly expanded the company's footprint in the Southeast, adding 20 stores and enhancing its market share. This move demonstrated a strategic effort to consolidate and grow through acquisitions.
• E-commerce Investments: Shoe Carnival has continually invested in its e-commerce platform to meet the evolving needs of its customers. These investments have improved online sales and customer engagement, positioning the company well in the competitive online retail market.
• Focus on Customer Experience: Shoe Carnival has focused on enhancing the in-store and online shopping experience. This includes improving store layouts, offering a wider selection of products, and implementing customer-friendly policies.

To gain further insights into the company's guiding principles, refer to Mission Statement, Vision, & Core Values of Shoe Carnival, Inc. (SCVL).

Shoe Carnival, Inc. (SCVL) Ownership Structure

Shoe Carnival, Inc. features a mix of institutional, retail, and insider ownership, reflecting a structure common among publicly traded companies. The distribution of shares influences the company's governance and strategic direction.

Shoe Carnival, Inc.'s Current Status

Shoe Carnival, Inc. is a publicly traded company, meaning its shares are available for purchase on the open market. It is listed on the NASDAQ under the ticker symbol SCVL.

Shoe Carnival, Inc.'s Ownership Breakdown

Here’s a detailed look at Shoe Carnival, Inc.’s ownership structure:

Shoe Carnival, Inc.'s Leadership

Key figures at the helm of Shoe Carnival, Inc. include:

• Mark Worden: President and Chief Executive Officer
• W. Jay Myers: Executive Vice President and Chief Financial Officer
• Patrick Edwards: Executive Vice President and Chief Merchandising Officer

Understanding Shoe Carnival, Inc.'s financial stability and performance is crucial for investors. For an in-depth analysis, check out: Breaking Down Shoe Carnival, Inc. (SCVL) Financial Health: Key Insights for Investors

Shoe Carnival, Inc. (SCVL) Mission and Values

The company's mission is to offer customers a wide selection of fashionable, fun, and value-priced footwear and accessories, while its values emphasize customer satisfaction, respect, integrity, and community involvement.

Shoe Carnival, Inc.'s Core Purpose

Official mission statement

To provide an engaging and fun shopping experience by:

• Presenting customers with a broad assortment of current, fashionable, brand name merchandise at a great value.
• Creating an exciting and appealing store environment.
• Delivering outstanding customer service.

Vision statement

While a specific, formally declared vision statement for the company is not readily available in public sources, insights into the company's aspirations can be gleaned from its strategic objectives and communications:

• To be a leading family footwear retailer recognized for its unique and engaging shopping experience.
• To drive sustainable growth and enhance shareholder value through strategic investments and operational excellence.
• To expand its market presence and customer base while maintaining a strong focus on value and customer satisfaction.

Company slogan/tagline

The company is known for the tagline 'A Surprise in Store.' This slogan reflects the company's commitment to providing a unique and entertaining shopping experience.

To delve deeper into the investor aspects, check this out: Exploring Shoe Carnival, Inc. (SCVL) Investor Profile: Who’s Buying and Why?

Shoe Carnival, Inc. (SCVL) How It Works

Shoe Carnival, Inc. operates as a family footwear retailer, offering a wide selection of shoes, boots, sandals, and accessories for men, women, and children through its network of retail stores and e-commerce platform.

Shoe Carnival, Inc.'s Product/Service Portfolio

Shoe Carnival, Inc.'s Operational Framework

Shoe Carnival focuses on creating a distinctive and engaging shopping experience for its customers. Its operational framework includes:

• Merchandise Sourcing and Procurement: Shoe Carnival sources its products from a variety of vendors, both domestic and international, to offer a diverse selection of styles and brands.
• Retail Store Operations: The company operates a chain of retail stores, each designed to provide a fun and interactive shopping environment. Stores typically feature an open layout, prominent displays, and a lively atmosphere with music and announcements.
• Inventory Management: Shoe Carnival employs sophisticated inventory management techniques to ensure optimal stock levels and minimize markdowns.
• Marketing and Promotion: The company utilizes a range of marketing strategies, including print advertising, social media, email marketing, and in-store promotions, to attract customers and drive sales.
• E-commerce Platform: Shoe Carnival operates an e-commerce platform that allows customers to shop online and have products shipped directly to their homes.
• Customer Service: Shoe Carnival emphasizes customer service, training its employees to provide knowledgeable and friendly assistance to shoppers.

Shoe Carnival, Inc.'s Strategic Advantages

Shoe Carnival's success is driven by several strategic advantages:

• Value Proposition: Shoe Carnival offers a compelling value proposition to customers by providing a wide selection of footwear at competitive prices.
• Targeted Marketing: Shoe Carnival tailors its marketing efforts to specific customer segments, such as families and value-conscious shoppers.
• Unique Shopping Experience: Shoe Carnival differentiates itself from competitors by creating a fun and engaging shopping experience in its stores.
• Loyalty Program: Shoe Carnival’s loyalty program encourages repeat purchases and fosters customer loyalty.
• Strong Vendor Relationships: Shoe Carnival has cultivated strong relationships with its vendors, enabling it to secure favorable pricing and access to exclusive products.
• To gain more insights into Shoe Carnival's financial performance, check out this analysis: Breaking Down Shoe Carnival, Inc. (SCVL) Financial Health: Key Insights for Investors

Shoe Carnival, Inc. (SCVL) How It Makes Money

Shoe Carnival, Inc. primarily generates revenue through the retail sale of footwear and related accessories for the entire family.

Shoe Carnival, Inc.'s Revenue Breakdown

The following table provides a breakdown of Shoe Carnival's revenue streams, illustrating their contribution to the company's total revenue:

Shoe Carnival, Inc.'s Business Economics

Shoe Carnival's business economics are shaped by several key factors:

• Pricing Strategy: Shoe Carnival employs a competitive pricing strategy to attract a broad customer base. This involves offering a mix of value-priced and branded footwear, often leveraging promotions and discounts to drive sales volume.
• Sourcing and Supply Chain: Effective management of its supply chain is crucial. The company sources products from various suppliers, both domestic and international, to ensure a diverse product selection and competitive pricing.
• Inventory Turnover: Efficient inventory management is vital for profitability. Shoe Carnival aims to optimize inventory levels to minimize holding costs and maximize sales, ensuring that popular styles are well-stocked while reducing the risk of obsolescence.
• Store Experience: Shoe Carnival differentiates itself through its engaging in-store environment, which includes music, lighting, and interactive displays. This aims to create a fun shopping experience that encourages purchases.

Shoe Carnival, Inc.'s Financial Performance

Key aspects of Shoe Carnival's recent financial performance include:

• Net Sales: For the fiscal year 2024, Shoe Carnival reported net sales of $1.16 billion.
• Gross Profit: The gross profit for 2024 was $419.8 million, representing 36.2% of net sales.
• Net Income: The company’s net income for 2024 was $67.4 million.
• Cash and Investments: As of the end of fiscal year 2024, Shoe Carnival had cash, cash equivalents, and marketable securities totaling $91.7 million.

To gain further insights into Shoe Carnival's investor profile, you might find this resource helpful: Exploring Shoe Carnival, Inc. (SCVL) Investor Profile: Who’s Buying and Why?

Shoe Carnival, Inc. (SCVL) Market Position & Future Outlook

Shoe Carnival, Inc. is navigating a dynamic retail landscape, focusing on enhancing its customer experience and expanding its market reach. The company's future outlook appears cautiously optimistic, balancing growth initiatives with potential economic headwinds.

Competitive Landscape

The following table provides an overview of the competitive landscape, showing market share and key advantages of Shoe Carnival and its main competitors.

Opportunities & Challenges

Shoe Carnival faces both opportunities and risks as it navigates the competitive retail environment.

Industry Position

Shoe Carnival maintains a solid position within the family footwear segment, emphasizing value and customer experience.

• The company focuses on creating a fun and engaging in-store environment, which differentiates it from online-only retailers.
• Shoe Carnival's expansion strategy targets high-growth markets, aiming to increase its store footprint and market share.
• The company is committed to investing in technology and infrastructure to improve operational efficiency and customer satisfaction.

For more insights into Shoe Carnival's investor profile, check out: Exploring Shoe Carnival, Inc. (SCVL) Investor Profile: Who’s Buying and Why?