Payless Post-Bankruptcy Strategy Puts Bigger Focus On Hispanic Consumers

Payless ShoeSource is revealing more details of its post-bankruptcy strategy.

The family footwear retailer — which emerged from Chapter 11 in August, just four months after filing — said a core part of its go-forward plans are to focus on the Hispanic market.

“In just a few short months, we have made exciting progress to propel the iconic Payless brand forward and return the customer to the center of our business,” said Martin R. Wade, III, interim CEO and chairman of Payless, in a statement Thursday. “To better connect with our customers, we are piloting a new pricing strategy and have launched Hispanic marketing in the U.S., helping us reach an important and currently under-served portion of our customer base.”

As part of an initiative to redesign its organizational structure and better align resources, the company said it is also streamlining its corporate headquarters.

Although it didn’t give the names of its new hire, Payless also said it brought in a new chief strategy officer and “identified strong talent within the organization leading to several promotions,” including a new CFO Neil Hansen, previously SVP of store development.

“We will continue to drive change and earn our customers’ loyalty by providing great, quality styles for the whole family at an exceptional value,” Wade said.

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