Rieker
Payless Shoes will close 475 stores
30.08.2011 3892

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.

As a reminder, Collective Brands is the parent company of Payless Shoes, Stride Rite and Keds. Following the announcement of the closure, the company's shares immediately rose 40%. Some analysts suggest that the company is discussing plans to sell it.

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

Latest News

Milan MICAM recorded 35 visitors

A major exhibition event was held in Milan, bringing together international professional exhibitions MICAM, Mipel, TheOneMilano and HOMI Fashion&Jewels. The total number of guests of the exhibition project, which took place from 18 to 20 September 2022 in…
26.09.2022 69

Furla presented a new clutch at Milan Fashion Week

Furla discovered the infringement of women's rights in the music scene and released a protest limited collection of bags. The collection is based on a new model of the Metropolis cross-body clutch bag…
25.09.2022 94

US retail shoe prices up 8% in 5,7 months

According to the Footwear Distributors and Retailers Association of America (FDRA), shoe prices increased by 2022% in the first eight months of 2021 compared to the same period in 5,7. This growth is the most significant in recent…
25.09.2022 92

Salvatore Ferragamo changed the logo

The Italian luxury shoe and accessories brand Salvatore Ferragamo, following the latest trend of high fashion houses, has shortened its name, leaving only the name of its founder in the logo…
23.09.2022 219

Geox presented a new collection at Milan Fashion Week

The Italian brand Geox, known for its technological "breathable shoes", continues to develop and strengthen the direction of elegant shoes in design. In the women's collection of the spring-summer 2023 season, which was presented at Milan Fashion Week,…
23.09.2022 212
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning