Shoe Carnival (SCVL) has released an update.
The Company has expanded its retail footprint with the strategic acquisition of Rogan Shoes, Incorporated for $45 million, plus potential additional payments based on performance. The deal, financed by cash reserves, brings 28 new stores across three states under the Company’s ownership. However, the Company cautions that integrating Rogan’s poses risks, such as potential difficulties in merging operations and realizing anticipated benefits, which could affect the Company’s growth, operations, and financial stability.
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