1) Weather. The rainy summer season left the company with a lot of open toe shoes.
2) Crocs. Increased interest in the trendy footwear started eating into summer business.
Karen Finerman tells the panel she likes Payless because she feels they have a good management team. In the long term, she sees upside in PSS as well as BWS.
On a related note, Finerman also recommends buying Limited Brands (LTD) for Victoria’s Secret.
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Trader disclosure: On Sept. 19, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (SWY); Najarian Is Short (ETFC); Najarian Owns (GS) Options; Finerman's Firm Owns (BWS), (COP), (GCO), (NMX), (LTD); Finerman's Firm Owns S&P 500 Puts And Calls; Finerman's Firm Owns Russell 2000 Puts