July 4, 2001 |
Payless ShoeSource Inc., stymied by sluggish sales and heavy markdowns needed to clear summer shoes, warned that its second-quarter and full-year profit and revenue will be sharply below analysts' expectations. North America's largest family footwear retailer, which operates 4,907 stores, said profit will come in at $1.45 to $1.50 a share. Analysts polled by First Call/Thomson Financial were expecting $2.44. The company's shares fell $7.63, or 12%, to $56.95 on the NYSE.
May 5, 1999 |
Payless ShoeSource Inc. has become the first national chain to move into Little Saigon's Bolsa Mini Mall, a well-rooted collection of mom-and-pop retailers. Manager Bruce Parsons, whose family developed the center 22 years ago, said the 1,800-square-foot space was vacant for more than a year because he was determined to lure a national name to the mall, to "give it some credibility."
January 18, 1996 |
May Department Stores Co. said Wednesday that it will spin off its Payless shoe store chain into a separate company, freeing the big retailer to concentrate on its more lucrative department stores. As part of the plan, Payless ShoeSource Inc., the nation's largest discount shoe retailer, will close or relocate about 450 of its nearly 4,600 stores, May said in a statement. Payless has 727 stores in California.
May 23, 2007 |
Payless ShoeSource Inc. said Tuesday that it would buy shoemaker Stride Rite Corp. for about $800 million, adding Keds and other brands to its stable and expanding its retailer distribution. The news sent shares of Stride Rite up more than 30% in extended trading, while Payless stock rose more than 4%. The $20.50-a-share offer represents a 33% premium over Stride Rite's closing price Tuesday.
November 26, 1995 |
Confused by the ever-changing landscape of the Southern California department store scene? Look no further for enlightenment and a quick primer on what has happened to the temples of commerce during the past few years. May Department Stores Co. * Robinsons-May Formed by the merger of independent stores Robinsons and May Co. in January, 1993. * Robinsons Founded 1883 in Los Angeles by Boston Dry Goods (now Associated Dry Goods); incorporated as J.W. Robinson Co.
August 10, 2000 |
Wal-Mart Stores Inc., the world's largest retailer, said Wednesday its fiscal second-quarter earnings rose 28%, in line with Wall Street's expectations, and revenue grew 20% despite sluggish sales in much of the retail sector in the last few weeks. Wal-Mart shares tumbled 7%, however, after the company reiterated that accounting changes will cut third-quarter earnings to about 31 cents a share, or 2 cents below analysts' expectations.
August 9, 2004 |
Wall Street's primary focus this week will be on the Federal Reserve's meeting Tuesday. The Fed is still expected to add to June's quarter-point rate increase and raise its benchmark short-term rate, the so-called federal funds rate, another quarter of a percentage point, to 1.5%, to keep inflation at bay. Though Friday's disappointing July jobs data made a rate increase less of a done deal, analysts think the gray area is the pace of future rate hikes.
November 8, 1999 |
Customers smile as they approach the Build-A-Bear Workshop in Oak Park Mall. A short while later, custom-made stuffed animal in hand, they walk out grinning. But the happiest person on the cheerful premises is Maxine Clark, the retailing whiz who dreamed up the store "Where Best Friends Are Made." Everywhere she turns, Clark sees customers selecting fake-fur skins from bins, getting them stuffed and stitched up, then dressing them for the trip home in their own "condos."
February 17, 1999 |
Exports and imports rose sharply in January at Long Beach, the nation's busiest port, as U.S. retailers raced to prepare for spring sales and Asia's rebounding economies clamored for more American raw materials to prime their resurgent manufacturing sectors, port officials said Tuesday. Wal-Mart Stores Inc., Payless ShoeSource Inc. and J.C. Penney Co.