News Summary

  • Shoe Carnival veteran Kerry Jackson, who served as the company's chief financial officer for over two decades, will retake the financial helm on September 28 to align with the company's ambitious growth plans. The news comes from a securities filing submitted on Thursday.
  • Jackson returned to the company in June in a newly created position after a two-year absence. According to the filing with the U.S. Securities and Exchange Commission, the appointment is "based on expectations of organic and acquisition growth, and takes into account the breadth and years of experience of Mr. Jackson's tenure at the company, including his current and prior leadership of the company's business development activities."
  • CEO Mark Worden said in a press release announcing the appointment that the CFO appointment comes at a "pivotal moment" for the company. The company is continuing to advance its expansion plans for the Shoe Station brand. The brand, which had 21 stores when it was acquired by Shoe Carnival for $67 million at the end of 2021, has become the company's fastest-growing business segment. Worden said in Thursday's press release that Shoe Carnival recently opened its 100th Shoe Station store and plans to exceed 215 by July 2026.

Deep Dive

Jackson is a veteran of the Evansville, Indiana-based footwear retailer with 35 years of experience, including 26 years as CFO and in other roles. According to his LinkedIn profile, he retired from Shoe Carnival in May 2023 and returned in June 2025 as Senior Vice President of Business Development. He now views that time away as a "sabbatical."

Jackson labeled it a "career break" on LinkedIn, writing: "I enjoyed the two years off, but I realized I had more to contribute and accomplish than retirement. Fortunately, CEO Mark Worden created a new position in business development that allows me to assist him and the executive team in driving company growth through M&A."

According to company documents, Jackson's annual base salary will increase to $565,000 upon his return as CFO. The company also said he will receive a one-time grant of 20,000 service-based restricted stock units.

Jackson will take over the CFO role from current SVP, CFO, and Treasurer Patrick C. Edwards. Edwards will also transition to the role of SVP, Special Projects on September 28. According to Thursday's press release, Edwards will continue as Treasurer and serve as a "key member of the finance leadership team." As CFO, Jackson will oversee the company's investor relations activities and plans to participate in the next earnings call.

As the company advances its strategic growth plan centered on the rapidly growing Shoe Station segment, it will rely on Jackson's financial expertise.

Worden said in a statement in Thursday's press release: "Kerry is already leading our business development efforts, and with his deep understanding of our business, it is a natural time for him to return to the CFO role as we execute our strategic plan."

Last year, the company began testing a "rebannering" strategy, converting some of its namesake Shoe Carnival stores into Shoe Station locations. Despite "market uncertainty," the company continued to invest in the rebannering program in fiscal 2025, according to Retail Dive, a sister publication of CFO Dive. Worden said this during the company's second-quarter earnings call.

According to the call transcript, Worden said the "rebannering strategy contributed significantly" in the quarter, noting that Shoe Station outperformed Shoe Carnival by more than 10% in merchandise and back-to-school sales. The company also observed its customer base shifting from Shoe Carnival shoppers with an average household income below $30,000 to Shoe Station's $50,000 household income range.

"This evolution and shift in customer mix is driving improved economics across the portfolio and reducing the company's exposure to economic downturns," Worden said on the call.

For the quarter ended August 2, Shoe Station net sales increased 1.6%, while Shoe Carnival net sales decreased 10.1% "as consumers earning under $40,000 remain under pressure." Overall net sales decreased 7.9% year-over-year to $306.4 million, according to the earnings report released September 4; net income fell to $19.2 million from $22.6 million in the same period last year.

The company also adjusted its full-year fiscal 2025 guidance: Shoe Carnival now expects net sales between $1.12 billion and $1.15 billion, compared to prior guidance of $1.15 billion to $1.23 billion. The company also expects capital expenditures to reach $45 million to $55 million, "including $30 million to $35 million for the rebannering program."

Shoe Carnival did not immediately respond to a request for comment.