Frank Caruso, chief financial officer for Stride Rite, tells GlobeSt.com that the sites of the new stores have not all been identified as of yet. In a released statement, David Chamberlain, company CEO says, "This change is consistent with our strategy of focusing our retail efforts on growing our own children's shoe stores."
The leased retail operations constituted approximately $14 million in Stride Rite's children's retail sales last year. Of the 50 new stores, 40 will be Stride Rite children's stores and 10 will be outlets.
Meldisco, a division of New Jersey-based Footstar Inc., will replace Stride Rite in Federated's licensed children's shoe departments. Federated's stores include Macy's, Rich's, Lazarus, and Goldsmith's.
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