Payless
ShoeSource
National retailer
of shoe stores for women.
Headquarters:
3231 SE 6th Avenue
Topeka, KS 66607
Employees: 14,000
CEO: Matthew Rubel
Stock Symbol: PSS
Website:
http://www.payless.com
Career
Site
Payless ShoeSource is the largest specialty
family footwear retailer in the Western Hemisphere. The company
sold more than 182 million pairs of shoes in fiscal 2005,
generating $2.7 billion in net sales. Most shoes are priced between
$10-$30 per pair.
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.
Payless stores feature fashionable, quality footwear and accessories
for women, men and children at affordable prices in a self-selection
format.
The company's stores are located in a variety
of settings, from urban to rural, including regional malls, shopping
centers, central business districts, free-standing buildings
and other retailer locations through our store-within-a-store
strategy. Shoes can also be purchased online.
The company had 4,574 stores at the end
of the third quarter of 2006. During fiscal year 2006, Payless
intends to open approximately 65 new stores and close approximately
75, for a net decrease of 10 stores. The company also intends
to relocate approximately 110 stores.
Payless closed a Japanese test store this
year that opened in 2003 and left the market.
Payless has been looking to upgrade the
fashion design of its shoes. The company recently hired Robert
Mingione, who most recently served as head of all footwear product
design at Kenneth Cole Productions, as Vice President of Product
Design for Payless ShoeSource, a new position focused on leading
the Payless Product Design Team, a new group headquartered in
New York.
The company also teamed up with fashion
designer Laura Poretzky to create the Abaete for Payless collection,
the retailer's first-ever designer footwear line. The shoes were
available in limited numbers in 450 stores this fall.
In 2005, Payless reported revenues of $2.6
billion and net income of $66.4 million.
History
Payless ShoeSource was founded in 1956
in Topeka, Kansas, by two cousins who perfected a revolutionary
idea: selling shoes in a self-service environment. Their self-service
format allowed consumers to browse and try on shoes without waiting
for sales help. More than four decades later, that idea continues
to provide millions of shoppers a convenient, friendly experience.
In 1961, Payless became a public company,
as Volume Shoe Corporation. In 1979, Volume Shoe merged with
The May Department Stores Company.
In 1996, Payless ShoeSource, Inc. was spun
off to shareowners and became an independent, publicly held company.
Payless shares trade on the New York Stock Exchange (NYSE) under
the trading symbol PSS.
Benefits
- Medical, Dental and Vision Plans
- Plans available for both full- and part-time workers. Coverage
begins after two months of employment
- Life and Disability Insurance
- Flexible Spending Accounts
- Retirement 401(k) - Company will match contributions
depending upon annual profits with a minimum of $.20 cents per
$1.00 for first 5% contributed.
- Employee Stock Ownership Plan - 5% discount
- Time Off
- Vacation
- Associates begin accumulating vacation time after six months
with the company. Eligible associates receive two weeks vacation
each year for the first five years. After five years, associates
receive three weeks vacation and four weeks after 10 years.
- Personal Days - Additional days are provided for associates
to handle personal matters. Associates are also encouraged
to use this paid time for philanthropy and community service
activities.
- Holidays - Payless observes the following national
holidays: New Years Day, Easter (Stores), Memorial Day, Independence
Day, Labor Day, Thanksgiving Day, day after Thanksgiving (Non-Stores)
and Christmas Day.
- Sick Days - Associates begin to accrue sick days after
two months of employment. Full-time associates accrue 4 hours
of sick leave each month. Part-time corporate associates accrue
2 hours of sick leave each month. The maximum sick leave accrual
is 36 days for full-time and 18 days for part-time.
- Product Discounts - 30% discount
for full-time associates and 20% for part-time associates. The
discount does not apply to gift cards or purchases on www.payless.com.
- Tuition Reimbursement
- Adoption Assistance
- Employee Assistance Program
- National Partner Discounts
Updated December 16, 2006
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