Mid-price retailer Shoe Carnival aims to go after consumers with a new but much smaller store concept. The Evansville, Ind.-based company said there is “untapped opportunity” in non-big city markets.
The 402-door retailer said it plans to target “new and fill-in existing markets” with stores in the 5,000-sq.-ft. range. Its current stores average about 10,000 square feet, and carry more than 28,000 pairs of shoes. The company did not identify cities suited for the new concept.
“This will provide consumers in local communities with a convenient shopping experience that builds upon Shoe Carnival’s strong track record of delivering moderately priced, branded footwear for the entire family,” Cliff Sifford, president and CEO, said in a statement. “Our team is excited about the development of a smaller store format that will leverage our strong brand relationships and multichannel presence. These new stores, combined with our Shoes 2 U initiative, which is our next step in creating an endless aisle experience, will give consumers in smaller markets greater accessibility to footwear than ever before.”
The value-priced retailer said it aims to open the small-market stores in the next six to nine months, with more expected to roll out in the next few years.
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The company is coming off a challenging first quarter in which it was plagued by unseasonable weather patterns, tightened consumer spending and delays related to shipments snarled in the West Coast ports.