Archive for Wednesday, May 30, 2007

Payless selects site; ops officer resigns

May 30, 2007


Payless ShoeSource an-nounced Tuesday that it had selected Brookville, Ohio, for the site of a new distribution center. The announcement came the same day that the Topeka-based company disclosed that its newly appointed chief operating officer had resigned for personal reasons.

The new Payless center, set to open next year, will supply its stores in the eastern half of the country; a center in California serves the western half.

Payless plans to close its distribution center in Topeka next summer, a move expected to eliminate about 550 jobs.

In a filing Tuesday with the Securities and Exchange Commission, Payless said that William E. May has resigned from the company, effective immediately.

May had been promoted April 23 to the newly created position of executive vice president and COO, after having served previously as COO for Tween Brands, which operates the Limited Too clothing and accessories chain.

Last week, Payless announced a planned $800 million purchase of rival Stride Rite Corp.


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