Positive customer response power Payless ShoeSource sales

02 Dec '05

2 min read

Payless ShoeSource Inc reported that same-store sales increased 9.0 percent during the November reporting period, the four weeks ended November 26, 2005.

All data in this press release relate to continuing operations.

Company sales totaled $207.6 million, a 5.4 percent increase from $196.9 million during fiscal November of last year.

*Sales from continuing operations.

*The fiscal year for operations in the company's Latin American region and Japan is based on a December 31 year-end.

Operations in the company's Latin American region (180 stores) and Japan are included in total company results on a one-month lag relative to results from other regions.

*Same-store sales represent sales of those stores in the United States, Canada, Puerto Rico, Guam and Saipan that were open during both periods.

Same-store-sales exclude stores in the company's Latin American region and Japan.

"November results exceeded their expectations, driven by favorable customer response to their merchandise and marketing efforts during the month," said Matt Rubel, President and Chief Executive Officer.

"They remain committed to their goal of achieving low single-digit, positive same-store sales on a consistent basis by delivering trend-right, distinctive product that is differentiated From their competitors, and aligning their strategy around their customers at every level of their organization."

At the end of fiscal November, 30 stores remained closed from the impact of hurricanes Katrina, Rita and Wilma.

Payless ShoeSource Inc is the largest specialty family footwear retailer in the Western Hemisphere.

As of the end of fiscal November 2005, the Company operated a total of 4,627 stores, which includes the 30 stores that remain closed due to hurricanes.

Payless stores offer quality family footwear and accessories at affordable prices.

Payless ShoeSource Inc

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