shoedog

Shoe Carnival: No Party in 2007 - But Cheap

You need to look at the differences between the older stores doing over 3mm and the new stores doing under 2. The old stores have a loyal customer base who don't look for fancy displays, just value. After all, the basic customer SCVL started with was blue collar joe earning his money an hour at a time. The new stores look like someone's mental image of a boutique where upper class people shop. They don't do any volume. They don't have near the bottom line as the older stores. Wise up. As the older stores are closed and more new less profitable stores open, the numbers are going to get worse and worse. This company is headed for a major shakeup in the next 2 years. Putting a financier in charge of a retail operation makes no sense. Put a retail person in charge who actually is willing to SEE who the customers are and what makes them want to shop a particular chain and see what might happen.