Mobile-based Shoe Station acquired for $67 million

Acquirer Shoe Carnival is traded on NASDAQ

Shoe Station operates 21 stores in five Southeastern states

Shoe Station operates 21 stores in five Southeastern states

Shoe Station, a family-owned footwear retailer based in Mobile, has been acquired by Indiana-based Shoe Carnival for $67 million, the two companies announced today.

Shoe Station operates 21 locations in five Southeastern states. These stores will continue to trade under the Shoe Station name. Shoe Carnival operates 377 stores in 35 states and Puerto Rico. Both feature open-shelf, self-service stores with a wide selection of major brands. Both also offer e-commerce sites.

Terry S. Barkin founded the Mobile chain in 1984 in a former tire and battery store at Bel Air Mall. “The brand expanded over the decades to newer and larger locations, always in mainstream shopping centers at or near major roads,” the firm said in announcing its purchase. “Shoe Station’s team of buyers, many recruited from department store chains, have become legendary for their market knowledge and ability to bring in new lines, including luxury and fashion.

“Terry S. Barkin passed away in 2016, leaving the presidency of the family-owned chain to Brent Barkin, who continues his father’s legacy of pragmatic growth based on providing consumer value,” the firm added.

“Southeastern customers will continue to see Shoe Station signs in our 21 locations and to experience the excellent service and selection they expect,” said Brent Barkin, who will continue to oversee the chain in his new role at Shoe Carnival as senior vice president of business development and integration. In a letter to his employees, he wrote that Shoe Carnival “get(s) that we have a unique proposition and value to the customer, showcasing categories, trends, styles and brands in a way that makes us excel. They know we are different. And they love that about us.”

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Mark Worden, president and CEO of Shoe Carnival

While Shoe Station has been privately held since its founding, Shoe Carnival is a public company trading on the NASDAQ stock market under the symbol SCVL.

“We are excited to welcome Shoe Station to the Shoe Carnival team,” said Mark Worden, Shoe Carnival’s president and chief executive officer. “Coming on the heels of our best quarter of our best year in our 43-year history, this deal accelerates our journey toward becoming a multi-billion-dollar retailer in the years ahead.”

This deal marks Shoe Carnival’s first acquisition of another firm.

Known for its community involvement, Shoe Station has maintained partnerships with United Way of Southwest Alabama, Distinguished Young Women, Alabama Public Radio (APR) and The University of South Alabama’s Mitchell College of Business.

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