Payless ShoeSource now Collective Brands

TOPEKA, Kan. Payless ShoeSource announced today that it has completed the acquisition of The Stride Rite Corp. and has officially changed its name to Collective Brands Inc.

"Collective Brands is built on the solid foundation of each business unit's individual core competencies, expertise and heritage," said Matthew Rubel, ceo and president of Collective Brands. "The new company will reach an expanded customer base with iconic brands through its nearly 4,900-strong retail stores and vibrant wholesale, licensing, and e-commerce channels. It will benefit from new efficiencies and greater scale in all aspects of getting footwear and accessories to market."