than $10 million, resulting in the closure of around 100 stores, taking its store count from just 230 to around 140. Prior to the acquisition, Payless Shoes was not affiliated with Payless ShoeSource, which sells more shoes in the US than Walmart, however, the business was modelled on the US chain, including a similar store format, target customer, and focus on value. This month, the first rebranded Payless ShoeSource Australia stores have opened at Westfield Warrawong in Wollongong, NSW, and Werribee Plaza in Victoria. Mark Jeffery, a former Big W executive who was appointed MD of Payless ShoeSource Australia in August 2013, told Inside Retail PREMIUM the Australian division is now more price driven like its US counterpart. “Payless has always been known for good value, but we’re driving that harder and further,” Jeffery said. Payless Shoes’ range previously included women’s, men’s, and children’s footwear, with a mix of private label and national brands sold at an average pricepoint of $30 to $35. “We have increased the emphasis on ladies and kids and we’re now more promotional with our prices then we have been in the past, that would be the biggest change.” The rollout of rebranded stores to the Payless ShoeSource banner will be based on lease renewals and store footprints, with larger stores taking priority. “It’s quite a capital intensive thing to do. We will prioritise around where our lease renewals occur, but also where there are opportunities for our larger trading stores, where we think we’re going to get a lift by modernising it,” Jeffery said. “We have some new stores on the cards as well. We think there is room for growth in Australia and we have a long term desire to do that, but I don’t want to discuss any quantities of stores or locations at this stage.”