Shoe Carnival's Back-to-School Bump
Footwear News
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Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.
Today we are diving into earnings from Shoe Carnival and an executive move at Aerosoles. Plus, western brand Ariat International has signed a multi-year deal with NFL star Brock Purdy.
Here's what you need to know.
Back-to-School Boom Leads Shoe Carnival to Strong Q2
Shoe Carnival is increasing its full year earnings guidance after reporting a “very strong” back-to-school season.
The Evansville, Ind.-based footwear retailer reported net sales in the second quarter of $332.7 million, which increased 12.9 percent from $294.6 million during the same time last year. Net income was $22.6 million, or $0.82 per diluted share, compared to net income of $19.4 million, or $0.71 per diluted share in the second quarter of 2023.
The company said that its total net sales performance in Q2 exceeded its expectation, with double-digit growth in Shoe Station, continued strengthening trends in Shoe Carnival and increases in e-commerce.
The company added that sales accelerated during the peak back-to-school season and continued through the month of August. This led the company to achieve low-single digit comparable store sales growth for fiscal August 2024, driven by growth of the children’s and athletics categories.
EXCLUSIVE: Aerosoles Hires Industry Veteran Jimmy Gabriel as President, Chief Brand Officer
Aerosoles has tapped industry veteran Jimmy Gabriel as its new president and chief brand officer.
According to the American Exchange Group-owned footwear company, Gabriel’s appointment into this newly-created role marks a critical step in reinforcing the strength of the Aerosoles brand as it looks into the future.
For Gabriel, he’s excited to start working with the team at American Exchange Group to bring Aerosoles “to the next level.”
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“I consider myself first and foremost, a merchant,” Gabriel told FN in an interview . “I think that’s important. And then from there we will be looking to organize the brand and to rebuild a structure that includes wholesale, e-commerce and our own retail stores.”
Gabriel’s career spans nearly 50 years across the women’s, men’s, and kids’ footwear markets, covering all categories and price points. He has led the development, launch, and growth of major footwear brands, including Aquatalia, Coach Footwear, Calvin Klein Footwear, Frye, Taryn Rose, BCBG, Juicy Couture, and Enzo Angiolini.
Gabriel’s appointment comes as American Exchange Group ramps up its footwear offering . The company acquired Aerosoles in 2022 . Aerosoles previously launched a distribution partnership with American Exchange Group in July 2021. American Exchange Group added to its shoe portfolio once again in 2023 with the acquisition of White Mountain Footwear . In July, American Exchange Group acquired Island Surf Company , a nautically inspired shoe brand founded in 2008.
Western Brand Ariat Inks Deal With NFL Star Brock Purdy
Western brand Ariat International has signed a multi-year deal with NFL star Brock Purdy.
The San Francisco 49ers starting quarterback will serve as a brand ambassador for the western and work shoe and apparel company in a series of television and social media campaigns which will live online and in Ariat brand shops across across the U.S. Purdy’s underdog journey from last pick of the NFL draft to top quarterback makes the athlete a perfect fit for the western brand that emphasizes hard work and commitment, according to a release.
The partnership represents the latest crossover between the NFL and a western shoe brand. In August, Texas-based shoe brand Lucchese inked a five-year partnership with the?Dallas Cowboys ?to be the NFL team’s official boot. This deal marked a new stage in the duo’s relationship; for the past 13 years,?Lucchese ?had been designing bespoke performance boots for the Dallas Cowboys cheerleaders.
Like other country album , Ariat has benefitted from sustained momentum in the western category , in part driven by Beyoncé’s country album debut this year. In April, the 10-year-old?Parker Boot Company ?launched a new made-to-order program for its western boots to supplement its existing bespoke structure. And in early March,?Ariat ?opened its newest flagship store in Las Vegas.?
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