Shoe Carnival completed the acquisition of Rogan Shoes in February 2024, expanding its footprint and market leadership in the Midwest. This acquisition is a key component of Shoe Carnival's growth strategy to become the nation's leading family footwear retailer.
The integration of Rogan's operations, including store operations, marketing, e-commerce platforms, point-of-sale systems, merchandising, and back office, has been completed. This accelerated integration has led to synergy capture ahead of expectations, with total synergies projected at approximately $2.5 million.
Rogan's contributed over $80 million in net sales in Fiscal 2024, including $22.3 million in the third quarter of 2024, and contributed operating income that exceeded its initial $10 million target by more than 20 percent in its initial year of acquisition. This strategic acquisition enhances Shoe Carnival's competitive positioning and is expected to drive significant financial leverage.
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