Posted on 02/01/2020 2:28:17 AM PST by Cronos
..Over seven years, Payless went through a wringer of private equity and hedge fund stewardship that left it with inadequate technology, run-down stores and no financial cushion to survive an era of upheaval in retail. .. Financial managers exert greater control over nearly all American companies than they once did.
Their willingness to cause some pain — to close factories, lay people off, renegotiate arrangements with longtime suppliers — is, many economists argue, a feature, not a bug .. The American economy has become markedly less dynamic. Fewer businesses are being started, and the newcomers are having less success unseating incumbents. Workers are less likely to change jobs, which suggests labor is not moving toward the most productive forms of work. Many major industries are becoming more concentrated among a few giants. ..Payless is now a carcass of a company, with no stores in the United States and a relative handful of employees in a headquarters that once held 800.
(Excerpt) Read more at nytimes.com ...
“Shoes. One thing you can’t buy on the internet.”
Zappos will be surprised to hear that.
L
Blast from the past written in the ancient year of 1995
Even then Newsweek was wrong.
https://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306
Odd thing is that stores used to deliver groceries decades before WalMart existed.
“Do Millies need pictures of everything,”
My squirrel dog is named Millie and has better eyesight than anyone on this board.
More like lousy cheap shoes that hurt your feet.
Used to get my wide Champion sneakers at Payless - can’t find them anywhere. Bummer.
We’ve bought over a dozen pairs of shoes and boots that way, over even more years.
Yes, and catalogs were before online shopping.
The things that work are rooted in what worked before....just faster and cheaper.
I don't think I've bought shoes in a store in at least 15 years. I know my size and I know what I like. Besides which, Amazon prime allows free returns if something doesn't fit. I only used it once when they sent me a XXS instead of an XXL shirt. It was too small to even fit my Bichon Frise. heh.
Unless you wear a size 15 Wide. At 6’7” and 275 pounds, everything I wear is from online retailers.
They had all 5 plus 2 ‘Vet only’ parking at front entrance, Vet discount, did a lot of community service year round, think the local blood bank had a bus there, recommended places to go if they didn’t have it or couldn’t find it, owners were ‘hands on’, cashiers very friendly, floor people very knowledgeable, ‘community’ fairly small but..
Shopping center they are in has a Food Lion, Restaurant, Dollar General (which may ‘hurt’ the Hardware & Grocery), free standing McDs, 4 gas stations in ‘throwing distance’, and several other businesses.
Good people and am sorry to see them go....
IF
PRO gress is moving forward,
How do you describe
CON gress?
Our preferred local went out of business when the owner retired. Out here in BFE that leaves me with a local that specializes is customer abuse and high prices, driving 10 miles to the place that specializes in rancid meat, driving 40 miles to stores with better customer service but poor selection or prices, or doubling pantry stores and doing with less fresh in the winter. I really dont like any of those options. I cant wait for someone to figure out how to start delivering out here.
Financial managers are killing the health care industry in America. Don’t ever think a doctor is in charge of a hospital. Accountants are.
Eddie Lampert Shattered Sears, Sullied His Reputation, and Lost Billions of Dollars. Or Did He?
Yeah, the Food Lion and Dollar General definitely hurt them. Poor location.
They don’t *have* to, no. But around here, the parents are actually integrating in significant percentages. Lots of Hispanics/Asians in “American” cuisine restaurants here - and the reverse.
I didn’t say (or mean) that.
I mentioned them and the others because they draw people to the center.
I said that DOLLAR GENERAL might tend to dip into Food Lion and the hardware store as they have both....on a smaller scale of course.
Also, it is more of a ‘strip’ mall rather than a Shopping Center as we know them today.
Champion can be found at Macys, Foot Locker, Zappos, Amazon, and more... if you’re not finding them, you’re not looking. Champion even has six or so branded stores around the US.
Yes, I figured it was a strip mall. Thing is, the minor stuff people need every day that could be the draw for TrueValue type stores are actually stocked by the Food Lion or Dollar General. That reduces traffic, not increases it, unfortunately.
Thanks
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