Payless Shoes will close 475 stores
30.08.2011 6173

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

The Moscow flagship of the AMAZING RED chain has strengthened its service component

AMAZING RED, a multi-brand retail chain owned by Inventive Retail Group, has renovated its flagship store in Moscow's Aviapark shopping center. Its retail space has doubled to 365 square meters, and separate gaming and sports areas have been added.
22.04.2026 88

French Lacoste has updated its logo.

The updated logo of French sportswear brand Lacoste uses a serif font inspired by the house's archives. The signature "crocodile," the brand emblem, has also been redesigned. The red tongue is made more prominent. The green tone of the design…
22.04.2026 118

Clarks celebrates annual Wallabee Day

On April 26, Clarks Originals will celebrate its third annual Wallabee Day, paying tribute to the cultural influence of the popular moccasin. The British brand is launching the "Worn by the World" campaign and two premium versions of the Wallabee 2604…
21.04.2026 345

A Portuguese safety footwear brand has launched reusable shoe covers, CleanStep.

A Portuguese safety footwear brand has released CleanStep—reusable shoe covers that allow users to move between rooms without leaving marks or dirt on the floor, writes…
21.04.2026 432

China's Anta Sport has cemented its place among the world's top three sporting goods market leaders.

China's Anta Sport Group announced its audited annual results for the year ended December 31, 2025 (the "financial…
20.04.2026 910
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning