Article

2019-02-16 Economy

Payless ShoeSource to shutter all of its remaining US stores

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Posted by Besoeker 2019-02-16 01:33|| || Front Page|| [5 views ] Top

#1 Crap from China and other third world toilet stalls. Another money racket for guys in Manhattan offices who all wear Gucci loafers.

Posted by M. Murcek 2019-02-16 05:29|| 2019-02-16 05:29|| Front Page Top

#2 Good riddance to plastic crap from China. Pay more and get a shoe that will last more than a couple of months.

Posted by Abu Uluque 2019-02-16 13:51|| 2019-02-16 13:51|| Front Page Top

#3 Didn't diversify by concentrating on shoes. Outdone by Walmart. One stop, multi-service for the same market.

Posted by Procopius2k 2019-02-16 14:47|| 2019-02-16 14:47|| Front Page Top

#4 What a pity... Always liked the local store when I wanted a pair of "sneakers" for a low cost comfortable shoe. The upper scale store wanted three times as much for a Brand name™ athletic trainer and all of the Walmart varieties didn't fit right...

Posted by magpie 2019-02-16 15:52|| 2019-02-16 15:52|| Front Page Top

#5 Bon Ton, Payless and Toys R Us have one thing in common - leveraged buyouts. Insane levels of debt were piled on at the bottom of the interest rate cycle.

Sears and JC Penney are also in a fairly similar predicament. Both bought back billions in stock by issuing similar amounts in debt. The deferred store and computer system improvements means they hollowed their businesses out for no good reason. Stock buybacks and LBO's have been a disaster for the retail sector.

Posted by Zhang Fei 2019-02-16 19:01|| 2019-02-16 19:01|| Front Page Top

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