Shoe Carnival acquires Shoe Station for $67M in cash; accretive to FY2022 EPS

SHOE CARNIVAL INC

Acquired substantially all assets of Shoe Station for $67M cash, funded from cash on hand.
Transaction expected to be immediately accretive to diluted EPS in fiscal 2022, adding ~$100M in net sales with operating income >10%.
Shoe Station CEO G. Brent Barkin appointed SVP, New Business Development & Integration; combined company expects to surpass 400 stores by end of 2022.
Fifth Amendment to credit agreement raised acquisition capacity from $10M to $75M per 12-month period to support future deals.

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