In its second-largest acquisition, Amazon buys the company for $970 million.
Payless ShoeSource Inc., North America's largest family footwear retailer, today announced it has signed an e-Commerce agreement with America Online Inc. to sell footwear through AOL's new Shop@AOL marketplace.
Under the agreement, Payless.com will be an anchor tenant in the Footwear area of the Apparel department in the Shop@AOL, AOL.COM, Netscape and CompuServe online shopping destinations. From these destinations, AOL and CompuServe members and visitors to AOL.COM and Netscape on the Web will have direct access to the Payless.com(SM) store.
At http://www.payless.com, customers can find more than 400 styles of fashionable footwear, including an extensive selection in wide widths and hard-to-find sizes -- to size 13 in women's and size 15 in men's. Sale offerings are changed every other week and style selections are updated daily. At Payless.com(SM) most shoes cost less than $20 a pair -- delivered to the address of the customer's choice -- even with shipping and handling costs included.
Payless.com(SM) is designed to complement the company's 4,428 Payless ShoeSource brick-and-mortar locations. Customers can exchange or return online purchases at any Payless ShoeSource store in the United States. Payless.com(SM) customers also can download a $2 coupon to be used at any Payless ShoeSource store, and each Payless.com(SM) order is shipped with a $2 coupon.