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Or Maybe There Just Isn't That Much Of A Market For Cheap Shoes
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Latest retailer to hit trouble: Payless Shoe Source, which is closing hundreds of stores in an attempt to survive. This article chalks Payless and others' troubles to America being "over-stored," which is one way to put it. But it seems like nobody's really sure about this. One analyst quoted in the article thinks that it's because malls are in the suburbs and everyone's moved back to the cities, which is hogwash -- the population of the suburbs isn't shrinking. Online purchases are one reason that makes more sense, but also there's the thought that people might just be buying less than they were a few years ago, and that stores were banking on unrealistic projections of never-ending growth. (Washington Post)
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