• Home

Payless Shoesource emerges from bankruptcy court protection

Posted: Updated:

Department stores continue to struggle as more and more people move to online shopping.  With that, and other business news, here's our James Munoz.

Macy's cut jobs and closed some locations in an attempt to reverse falling sales.  The department store saw its sales fall 2.8 % at established stores, its tenth decline in a row - but that was better than the 3.3 % analysts expected.  Shares in department stores fell in Thursday's trading - Macy's was down 4 %, Kohl's was off nearly 9 % and Dillard's shares declined 15 % after reporting a $17.1 million loss.  

It's not just department stores struggling in today's retail environment.  Payless Shoesource has emerged from bankruptcy court protection after shedding more than $435 million in debt and closing about 673 stores.  This gives the chain a cleaned-up balance sheet as it looks to compete in a retail sector that is increasingly facing bankruptcies, stores closings and a huge increase in e-commerce competition.  The company plans a strategy that largely relies on brick-and-mortar stores.  But Payless also has an online store and plans to expand operations in china through franchising agreements.  

    • Over 70 Victoria families affected by Harvey still living in hotels, more without homes.

      It has been seven months since Hurricane Harvey. Many in Victoria sustained damage but have since moved on; however, a great deal of families are still without homes.  According to the Victoria Long Term Recovery Group numbers, over 70 families in Victoria County are still living out of hotels paid for by FEMA.  There are additional families that still live with realitives and, in some cases, living out of their car. There are cases where there are five families, 30 ...

    • Texas News Minute

      The latest Texas news from The Associated Press
    • Report criticizes Galveston's slow progress after Ike

      GALVESTON, Texas (AP) - A new report is using Galveston's past mistakes as an example of what cities should not do when rebuilding housing after Hurricane Harvey.

    • A swan-song for Toys R Us, the going-out-of-business sale

      NEW YORK (AP) - Toys R Us is opening its doors with a going-out-of-business sale, offering clearance discounts at all 735 stores, including Babies R Us. The company did not say Friday how big the discounts will be or when it expects stores to shut down. Last week, the company said it would close or sell all its stores after operating from months under bankruptcy protection.  Customers will be able to use their gift cards until April 21, but the store will no l...

    • That Facebook Quiz Might Be a Big Data Company Mining Your Personal Information

      In light of the recent revelation that Cambridge Analytica allegedly mined personal information from more than 50 million Facebook users, the Better Business Bureau is reminding consumers that what they share online can be used for illegal or unethical reasons. Personality quizzes are especially popular these days on social media platforms such as Facebook, and generally seem innocent enough. However, you might be giving away more information about yourself, and even your friends tha...

    • UHV to host Victoria film festival screenings on campus

      For the first time, attendees of the Victoria TX Indie Film Festival will have the opportunity to watch three of the festival’s films at the University of Houston-Victoria. 

    • Texas Private-sector Employers Add 42,800 positions in February

      AUSTIN ? The Texas economy added 40,500 seasonally adjusted nonfarm jobs in February, which marked 20 consecutive months of employment growth. 

    • Police emergency incident near Buena Vista and East Street

      Newscenter 25 crews are on the scene of Breaking News. A call came in around 8:30 p.m. regarding a police incident near Buena Vista and East Street. Neighbors reported hearing several gunshots and saw police surround a mobile home.  Stay with Newscenter 25 for the latest information. 

    • Pet of the Week March 23

      In honor of National Puppy Day, Pet Adoptions of Cuero joined us in studio this morning with two precious puppies. 

    • Gusty Winds Today, With Rain Chances On The Rise

      Hang On To Your Hats By This Afternoon! 30 MPH or Higher Gusts Expected! Trey Meynig Has Your Forecast. 

Current Conditions