ALDO

SECTION: FINANCIAL POST; Pg. FP1

LENGTH: 588 words

HEADLINE: Aldo to close three chains in streamlining: Keying on core brands

BYLINE: Hollie Shaw, Financial Post

BODY:


Aldo Group Inc., Canada's largest fashion footwear retailer, is shaking up the industry with the closure of three of its shoe chains -- Pegabo, Calderone and Simard.

The Montreal-based retailer, which has 700 stores worldwide and 450 in Canada, has confirmed it will make the closures during the next year to concentrate primarily on the development of its core Aldo and Transit brands and Feet First, a burgeoning chain that sells 'comfort-fit' shoes to older customers.

The three exiting chains, which have been operating in Canada for about 20 years, are being jettisoned as Aldo executives work to streamline their quickly expanding business.

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