Shoe Carnival, a leading family footwear retailer in the United States, has announced the appointment of Michael R. Grimes as its new Chief Financial Officer (CFO), effective March 6, 2023. Mr. Grimes brings extensive financial leadership and strategic planning experience to the role, having held senior positions in both public and private companies, including serving as CFO of Stein Mart, Inc. and Stage Stores, Inc..
In his new capacity as CFO, Mr. Grimes will oversee Shoe Carnival’s financial operations, including accounting, financial planning and analysis, treasury, tax, and investor relations. He will work closely with the company’s leadership team to develop and execute strategies that drive growth, profitability, and long-term shareholder value..
Prior to joining Shoe Carnival, Mr. Grimes served as the CFO of Stein Mart, Inc., a leading off-price apparel and home goods retailer, from 2019 until its acquisition in 2020. During his tenure, he played a key role in the company’s financial turnaround efforts, including the implementation of cost-saving initiatives and the improvement of profitability metrics. Prior to Stein Mart, Mr. Grimes held various senior financial leadership positions at Stage Stores, Inc. over a period of 15 years, including serving as its CFO from 2012 to 2018..
Mr. Grimes’ appointment comes at a pivotal time for Shoe Carnival. The company has been rapidly expanding its store footprint and e-commerce platform in recent years, and it is poised for continued growth in the years ahead. His financial expertise and strategic acumen will be invaluable as Shoe Carnival navigates the evolving retail landscape and seeks to capitalize on new opportunities..
Commenting on the appointment, Shoe Carnival’s CEO, Mark Worden, expressed confidence in Mr. Grimes’ ability to contribute to the company’s ongoing success. .
