Payless ShoeSource
Encyclopedia
Payless ShoeSource is a discount footwear retailer founded in Topeka, Kansas
in 1956 that is owned by Collective Brands, Inc. In 1961, it became a public company as the Volume Shoe Corporation which merged with the May Department Stores Company in 1979. 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. In 2004, Payless Shoe Source announced it would exit the Parade chain and would close 100 Payless Shoe outlets. On August 17, 2007, the company acquired the Stride Rite Corporation
and changed its name to Collective Brands, Inc. Collective Brands is traded on the New York Stock Exchange under the symbol PSS.
Starting in 1972, Volume Shoe began to consolidate stores in proximity and convert others to the "Payless" brand. The St. Louis operation of "'Hill Brothers Self Service'" stores were known for their bare bones minimalism and the slogan "two for five - man alive!" That is, women and children's shoes were two pair for five dollars.
.
Payless Shoes shuttered 104 stores in 2009, and 114 in 2010. Now 475 more stores in 2011 are closing.
Topeka, Kansas
Topeka |Kansa]]: Tó Pee Kuh) is the capital city of the U.S. state of Kansas and the county seat of Shawnee County. It is situated along the Kansas River in the central part of Shawnee County, located in northeast Kansas, in the Central United States. As of the 2010 census, the city population was...
in 1956 that is owned by Collective Brands, Inc. In 1961, it became a public company as the Volume Shoe Corporation which merged with the May Department Stores Company in 1979. In the 1980s, Payless was widely known in the U.S. for its Pro Wings line of discount sneakers, which often had Velcro
Velcro
Velcro is the brand name of the first commercially marketed fabric hook-and-loop fastener, invented in 1948 by the Swiss electrical engineer George de Mestral...
straps instead of laces. In 1996, Payless ShoeSource became an independent publicly held company. In 2004, Payless Shoe Source announced it would exit the Parade chain and would close 100 Payless Shoe outlets. On August 17, 2007, the company acquired the Stride Rite Corporation
Stride Rite Corporation
The Stride Rite Corporation is a marketer of children's footwear in the United States and is a major marketer of athletic and casual footwear for children and adults...
and changed its name to Collective Brands, Inc. Collective Brands is traded on the New York Stock Exchange under the symbol PSS.
Acquisitions
Circa 1962-63, Volume Shoe company purchased the original Hill Brothers Shoe Company based in Kansas City, Mo and converted approximately all 25 of their stores to the "Payless" name. In 1971, Volume Shoe obtained the second Hill Brothers Shoe Store chain that was started in St. Louis, Mo in 1956 by Al Melnick and Sol Nathanson with the assistance and aid of the original Hill Brothers in Kansas City. The St. Louis version of "'Hill Brothers Self Service Shoe Store'" went from 3 to 103 stores in the Midwest and South between 1956 and 1971. Volume Shoe originally operated the 103 stores under the "Hill Brothers Self Service" name.Starting in 1972, Volume Shoe began to consolidate stores in proximity and convert others to the "Payless" brand. The St. Louis operation of "'Hill Brothers Self Service'" stores were known for their bare bones minimalism and the slogan "two for five - man alive!" That is, women and children's shoes were two pair for five dollars.
Expansion
On June 27, 2006, Payless announced that it was launching a new logo created to represent a more stylish and contemporary company. This is the first rollout of stores in 2012 and beyond. Payless Shoe source has also opened 3 new stores in Jamaica. In July 2010 Payless opened 9 stores in the PhilippinesPhilippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
.
Payless Shoes shuttered 104 stores in 2009, and 114 in 2010. Now 475 more stores in 2011 are closing.