People Are Wearing Sneakers Everywhere, and It’s Shaking Up Shoe Retail
- Executive says industry fighting to adapt to changing tastes
- U.S. has too many stores and needs a ‘retail culling,’ he says
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The rise of the fashionable sneaker -- the result of casual Friday’s inexorable creep across the rest of the week -- has footwear retailers scrambling to adjust.
Comfier shoes appear here to stay: Walmart Inc. announced on Wednesday that management can now join other employees in wearing sneakers to work, and casual attire is increasingly accepted at many companies. The trend means that closely held Aldo Group Inc. has found itself competing against footwear giants like Nike Inc. and Adidas AG.