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Payless Shoes: Payless Shoesource
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Payless ShoeSource is the largest specialty family footwear retailer in the Western Hemisphere. The company was founded in 1956 in Topeka, Kan., on a revolutionary idea - selling shoes in a self-select environment. More than 50 years later, Payless serves millions of customers through its powerful network of more than 4,500 stores, in a variety of retail settings. The Payless team has created an energized, customer-centric organization dedicated to democratizing fashion and design in footwear and accessories to inspire fun, fashion possibilities for the family. Payless is executing a House of Brands business strategy aimed at offering well-recognized brands featuring the latest on-trend styles offered at a great price in a fun, inspiring shopping environment. Through licensing arrangements or acquisitions the brand portfolio offered in Payless stores continues to expand and today includes Airwalk, American Eagle, Champion, Spalding, Tailwind, Dexter, Hannah Montana, Shaquille O'Neal-endorsed Dunkman and Dunkman Game Shoes, and a co-branded line of authentic dance shoes with American Ballet Theatre called ABT for Spotlights.
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Payless ShoeSource is a discount footwear retailer that was founded in 1956 in Topeka, Kansas. Shaol Pozez and his cousin Louis Pozez founded and operated Payless Shoes. In 1961, it became a public company as the Volume Shoe Corporation. In 1979, Volume Shoe merged with the May Department Stores Company. In the 1980s, Payless was widely known in the U.S. for its Pro Wings line of discount sneakers, which often had Velcro straps instead of laces. In 1996, Payless ShoeSource became an independent, publicly held company.
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Today, Payless ShoeSource is the largest specialty family footwear retailer in the Western Hemisphere. The company sold more than 187 million pairs of shoes in fiscal 2004, generating $2.66 billion in net sales. Payless operates stores in all 50 U.S. states, plus Puerto Rico, Guam, Saipan, the U.S. Virgin Islands, Canada, Central America, the Caribbean, South America, and opened its first test store in Japan in November, 2004. Payless stores feature fashionable, quality footwear and accessories for women, men and children at affordable prices in a self-selection format.
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![[photo]](http://retrieverimages.lycos.com/images/p/a/y/payless-shoes/i/001.jpg)
Payless ShoeSource was founded in 1956 in Topeka, Kansas. It was started by two cousins, Louis and Shoal Pozez, with a vision of providing family footwear at affordable prices in a then unique self-service environment. The founders emphasized footweaer quality and value at reasonable prices. These factors are still important to the company today. Reasonable prices are made possible, in part, because of the self-service environment.
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Discount shoe retailer Payless ShoeSource is now Collective Brands (NYSE: PSS), and recently acquired children's shoemaker Stride-Rite. Perhaps the split focus of trying to be both a discount and a full-price shoe store is what is causing profits to plummet. Collective Brands recently reported 2Q 2007 results. Profits dropped by 23% to just under $25 million, or diluted EPS of $0.38. Total sales were down 1%, not enough to worry, and same store sales were down 1.4%, again not enough to worry, yet. CEO Matthew Rubel blamed the downturn on weak sandal sales.
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Payless ShoeSource is the largest family footwear retailer in the Western Hemisphere. The company operates approximately 5,000 stores in the U.S. which feature fashionable, quality footwear for women, men and children sold at affordable prices in a self-help format. Payless works with Keycode.com to advertise all of the offically authorized discount offers for their stores and for their online shoe shopping website, payless.com. Find great savings offers on affordable high quality sneakers, dress shoes, sandals, thongs, boots, slippers, kids shoes, baby shoes, and work boots, and much more.
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Payless Shoesource