Monday, September 26, 2011

Industry News: Decelerating

Collective Brands, parent company of Payless and Stride Rite shoe chains, announced that it would close 475 underperforming stores over the next three years and has hired a firm to help it explore options. The company currently operates 4,844 stores, of which 4,461 are Payless stores. Of the 475 stores to close over the next three years, more than 300 will be shuttered by the end of the year, including about 275 Payless and 75 Stride Ride stores.

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