Payless ShoeSource ramps up $30.2mn in Q1 earnings

20 May '05

7 min read

- maintaining a singular focus on its core business, the payless shoesource chain of family
footwear stores
- accelerating customer acceptance of the merchandise authority positioning in value priced
footwear and accessories, differentiating its product offering from other retailers;
- continuing the efforts to build select athletic and casual lifestyle brands that provide styling and
quality to a broader audience of customers
- refocusing the company's marketing efforts to build more customer traffic in the payless stores
and communicate its merchandise authority position more clearly;
- continuing to improve its information technology to manage inventory, pricing and store operations;
- continuing to pursue gross margin improvement relative to 2004;
- maintaining disciplined control of expenses; and,
- improving the in-store shopping experience.

payless shoesource remains committed to its long-standing goal to achieve low single-digit positive same-store sales on a consistent basis, through successful execution of our merchandise authority strategy. the company does not provide guidance for sales, earnings or margins. however, certain financial metrics for fiscal 2005 are expected to include:

- depreciation and amortization of approximately $90 - $95 million dollars;
- capital expenditures planned at $70 million; and,
- working capital should be approximately neutral.

payleditures planned at $70 million; and,
ditures planned at $70 million; and,
- working capital should be approximately neutral.

payless shoesource, inc. is the largest specialty family footwear retailer in the western hemisphere. as of the end of april 2005, the company operated a total of 4,646 stores offering quality family footwear and accessories at affordable prices.

Payless ShoeSource

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