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The plural possessive is "ladies'." "Lady" is singular, so if you were referring solely to one woman's shoes, it would be "the lady's shoes." As for your second question, I'm assuming you're referring to a group of women in your salutation of them, so it would be "Good morning, ladies." And as you're addressing them directly, the comma preceding "ladies" is necessary.
I tried searching Google Ngram Viewer for "Look lady" and "Listen lady", both capitalized so as to occur at the start of a sentence, with the hope that these ngrams would reflect the usage of "lady" in a derogatory/dismissive sense. It seems to have come into usage around 1950, and really took off in the late 1990s.
etymology - "Look, lady", "Listen, lady" – lady as a pejorative ...
single word requests - Is there an opposite gender for "lady ...