shoesstar
Payless Shoes will close 475 stores
30.08.2011 3383

Payless Shoes will close 475 stores

Having lost $ 35 million, the American company Collective Brands Inc. decided to close 475 from 4844 shoe stores. Most of them operate under the brand name Payless Shoes, 300 stores will close by the end of this year. According to forecasts, closing costs reached $ 54 million.

Recall that Collective Brands is the parent company of Payless Shoes, Stride Rite and Keds. After the announcement of the closure, the shares of the company immediately increased by 40%. Some analysts suggest that the company is discussing plans for its sale.

Payless Shoes has already closed 20 stores this year. However, at the same time, she opened 32 outlets for the year. The company's revenue grew by 5% and is projected to reach $ 10 million.

Having lost $ 35 million, the American company Collective Brands Inc. decided to close 475 from 4844 shoe stores. Most of them work under the brand name Payless Shoes, 300 stores will close by the end ...
5
1
Rating
Midinblu

Latest News

The starry sky is the main theme in the design of the Skandia children's collection autumn-winter 2020-2021

The Italian brand Skandia has released a new collection of footwear for children and teenagers fall-winter 2020-2021. The Italian brand Skandia has released a new collection of footwear for children and teenagers fall-winter 2020-2021. Stars, flowers and splashes of watercolors decorate ...
01.10.2020 208

Crocs has released a collaboration with Puerto Rican rapper Bad Bunny

The American brand of clogs Crocs presents a collaboration with the Latin American superstar Bad Bunny. The classic Bad Bunny X Crocs clogs are detailed with jibbits that glow in the dark.
30.09.2020 142

Vagabond Shoemakers launched an online store in Russia

The Swedish shoe brand Vagabond Shoemakers announced the launch of an official online store in Russia. On the website vagabond.com, it became possible to place an order with delivery to any Russian region.
30.09.2020 158

Aymod exhibition starts in Istanbul

Today in Istanbul, at the CNR Expo exhibition center, the 63rd Aymod international exhibition of shoes, bags and accessories, the largest b2b platform in Turkey, opened.
30.09.2020 371

Fashion Consulting Group predicts a radical reduction in turnover in the fashion retail market

According to Anush Gasparyan, Commercial Director of Fashion Consulting Group, as a result of the pandemic, the range of fall in the fashion market in Russia may range from 25% to 40%. This will largely depend on the situation in the second half of the year.
30.09.2020 456
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning