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Same-store sales up in Oct at footwear retailer Payless

Nov '05
Leading specialty family footwear retailer Payless ShoeSource Inc reported that same-store sales increased 4.0 percent during the October reporting period, the four weeks ended October 29, 2005.

Company sales totaled $212.5 million, a 1.1 percent increase from $210.1 million during fiscal October of last year.

Total sales for the first nine months of fiscal 2005 were $2.06 billion, compared with $2.05 billion during the similar period in fiscal 2004. Same- store sales increased 2.4 percent during the first nine months of the fiscal year.

Matt Rubel, Chief Executive Officer and President informed that they are pleased with their October results. Customers reacted positively to the company's fall merchandise during the month, as indicated by the solid sales performance.

The company remains committed to its goal of achieving low single-digit positive same-store sales growth through more consistent execution of its merchandise strategy to inspire fun, fashion possibilities for the family.

As of November 2nd, 23 stores remain closed in areas impacted by Hurricane Katrina, and 5 stores remain closed from the impact of Hurricane Rita. Store closings related to Hurricane Wilma peaked at approximately 120 stores; 32 of those stores remain closed.

Family footwear and accessories seller Payless ShoeSource Inc operates a total of 4,626 stores, which includes the 60 stores closed due to Hurricanes Katrina, Rita and Wilma. Payless stores offer quality family footwear and accessories at affordable prices. Company offers family footwear and accessories including women's shoes, men's shoes, girl shoes, boy shoes, infant shoes and back to school shoes.

Payless ShoeSource Inc

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