Crossroads loses longtime tenant

Coyote · Post by **Coyote** » Thu Sep 16, 2004 9:43 pm

Payless to pull out of Crossroads Mall location

Payless ShoeSource at Crossroads Mall, one of the original tenants of the north wing that opened in 1988 when the shopping center was remodeled, is closing this month.

The shoe store chain said in a press release that the store would close in September. No reason or definite date were given, and several calls to corporate headquarters in Topeka, Kan., were not returned.

The release noted that shoppers could visit other Payless locations in the Omaha-Council Bluffs area or go online at http://www.payless.com.

In an Aug. 12 press release posted on the company's Web site, which announced results for the second quarter of 2004, store closings were mentioned as part of a series of strategic initiatives to build long-term shareowner value.

The release included comments from Steven J. Douglass, chairman and chief executive officer, that the company needed to sharpen its focus on its core business strategy.

"In addition, because of the weaker sales performance during the second quarter 2004, our management team decided to accelerate the closing of approximately 260 stores despite the fact that their leases are not scheduled to expire for a number of years," Douglass said. "This action was a proactive decision to more quickly position the chain to increase profits and net margin - and ultimately provide a greater return to shareowners."

Calls to the Crossroads management office were not returned. A manager reached at the store declined to comment on the closing.

Payless opened at Crossroads in the summer of 1988 as one of 17 new specialty retail shops housed in the north wing, which was part of a $40 million expansion project. The wing was anchored by a new, 200,000-square-foot Dillard's and also included Victoria's Secret, Bachrach's, Waldenbooks, County Seat, Limited Express, Fanfare Shoes, the Limited, Radio Shack and Greenberg Jewelry.

Payless, which describes itself as North America's largest specialty family footwear retailer, operates more than 5,000 shoe stores worldwide in shopping centers, free-standing buildings and in other retailers, such as ShopKo.

projectman · Post by **projectman** » Thu Sep 16, 2004 9:47 pm

I hardly see Payless as a specialty store. It's too bad Crossroads is loosing a tenant but I don't think many people will loose too much sleep.

How many Payless stores are in Omaha, maybe 600?

AZCorey · Post by **AZCorey** » Sun Oct 03, 2004 10:28 pm

Has Crossroads been renovated since 1988??? That's a long time ago....maybe it's time for them to 'update'!

DMRyan · Post by **DMRyan** » Sun Oct 03, 2004 10:39 pm

Yeah, I probably wouldn't sweat this one either. I'd lose more sleep over the closing of a Cinnabon or Claire's than Payless Shoe Source.

omahaopinions.com · Post by **omahaopinions.com** » Mon Oct 04, 2004 8:10 am

AZCorey wrote:Has Crossroads been renovated since 1988??? That's a long time ago....maybe it's time for them to 'update'!

It needs to be updated!

DTO Luv · Post by **DTO Luv** » Mon Oct 04, 2004 5:10 pm

It probably doesn't have a future as a retail center any more. With all of the trouble that businesses along Ft. Crook Rd. are having a new mall in Bellevue would probably go on the west side by La Vista or somewhere along the freeway.