Shoe-a-holics on the hunt for budget-brand names frequent the Rack Room for a fix. Rack Room Shoes sells private-label and brand-name footwear, handbags, and accessories to thrifty customers from some 390 stores in more than 25 states. The company also operates some 60 stores under the Off Broadway banner in about 10 states. Founded in 1922 as a single Phil's Shoes store, Rack Room Shoes is owned by Europe's largest shoe retailer -- Deichmann Schuhe of Germany -- which acquired Rack Room Shoes in 1984. As part of its expansion strategy, the off-price retailer plans to continue opening new stores in the southeastern US; it's focusing specifically on Texas and Arizona.
In 2009 Rack Room Shoes' parent company Deichmann sold more than138 million shoes in 20 countries worldwide. The US market is its second largest after Germany. – less