Shoes.com shuts down
January 27, 2017 04:34 PM
For the second time this week, a Top 500 online retailer is shutting down.
Shoes.com, No. 151 in the Internet Retailer 2016 Top 500 Guide, announced on Friday afternoon that it is shuttering its three e-commerce sites, including its flagship site as well as OnlineShoes.com and ShoeME.ca effective immediately. The retailer didn’t say why it is closing. In a statement the retailer says “a limited group of employees will stay on through the next few weeks as the company winds down all operations.”
A message to the company’s press email seeking comment immediately bounced back, as did an email to the contact address listed on Shoes.com’s Facebook page. The retailer’s customer service phone line also appeared to be down as of Friday afternoon.
According to data from web traffic measurement firm SimilarWeb, traffic to Shoes.com from November-December dropped 27.1% year-over-year to 2,739,000 visits, down from 3,759,000 in 2015. The dropoff was even more significant in December, which saw 32.9% (1,870,000 in 2015 versus 1,254,000 in 2016) fewer visitors.
The company shutdown comes just four months after Shoes.com went on a hiring spree. In September, the retailer hired Travelocity veteran Brad Wilson to be its new president, taking over from Roger Hardy, who remained as CEO. Days later, the retailer announced it had hired Nordstrom (No. 18) veteran Bryan Galipeau as its senior director of acquisition and Stephen Williams as director of marketing analytics, both new positions within the business. Wilson’s LinkedIn profile makes no mention of Shoes.com, while Galipeau and Williams’ profiles both do.
According to Top500Guide.com, Shoes.com generated $223.0 million in sales in 2015, up 149.9% from $89.2 million last year. In May 2015, the retailer $45 million in a round of private equity funding.
The move comes three days after apparel retailer Limited Stores LLC (No. 216) shuttered its online store in the wake of filing for Chapter 11 bankruptcy the week before.