Shoe Carnival's Rebranding Strategy: Balancing Long-Term Potential with Execution RisksWe wish that PT) was becoming more focused rather than less. Shoe Station store sales trends are outperforming the Shoe Carnival banner by over 1000bps, but it's unclear what the actual like-for-like comp is for Shoe Station. Shoe Station has access to better product and brands than Shoe Carnival, appeals to a more affluent consumer, faces less competition than Shoe Carnival, presents product in a more inviting manner for its customers, and requires 20%-25% less inventory than Shoe Carnival. Shoe Carnival goes heads up against Famous Footwear (CAL-NR), Shoe Show (Private), Rack Room (Private), Kohl's (KSS- NR), and, to a lesser degree, DSW (DBI-NR). On the other foot, Shoe Station directly competes with DSW and Nordstrom Rack (Private).