Payless ShoeSource is a discount footwear retailer that was founded in 1956 in Topeka, Kansas. Shaol Pozez and his cousin Louis Pozez founded and operated Payless Shoes. In 1961, it became a public company as the Volume Shoe Corporation. In 1979, Volume Shoe merged with the May Department Stores Company. In the 1980s, Payless was widely known in the U.S. for its Pro Sprints line of discount sneakers, which often had Velcro straps instead of laces. In 1996, Payless ShoeSource became an independent, publicly held company. On August 17, 2007, the company acquired The Stride Rite Corporation, and changed its name to Collective Brands, Inc.[1] It is currently the 98th-largest retailer in America.

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