。
She runs a shoe store.
Literal
She [topic-は] shoe-shop [object-を] is-managing.
靴屋 follows the productive ~屋 suffix pattern — attach 屋 to almost any product or trade and you get the shop or shopkeeper for it: パン屋 (bakery), 本屋 (bookstore), 八百屋 (greengrocer), 魚屋 (fish shop). The same suffix can also mean the proprietor (パン屋さん = 'the bakery owner / the baker'). 経営する is the formal verb for running or managing a business — heavier than the casual やる ('to do/run').