Payless April Comps Decline 2.8%

Payless ShoeSource today reported that same-store sales decreased 2.8% during the April reporting period, the four weeks ended April 30, 2005. Sales in April reflect the negative effect of the shift in Easter to March 2005 from mid-April last year. All data in this press release relate to continuing operations. Company sales totaled $242.5 million, a 4.4% decrease from $253.8 million during fiscal April of last year.

Total sales for the first quarter of fiscal 2005 were $695.2 million, a 0.4 percent increase from $692.3 million during the similar period in fiscal 2004.

Same-store sales increased 2.7 percent during the first quarter of the fiscal year.

     Sales were as follows (unaudited):



                        APRIL SALES* (DOLLARS IN MILLIONS)
     Fiscal         Fiscal        Percent         Same-Store Sales***
     2005**         2004**        Increase/       Percent
                                  (Decrease)      Increase/(Decrease)

     $242.5         $253.8        (4.4)%          (2.8)%


                    FIRST QUARTER SALES* (DOLLARS IN MILLIONS)
     Fiscal         Fiscal        Percent         Same-Store Sales***
     2005**         2004**        Increase/       Percent
                                  (Decrease)      Increase/(Decrease)

     $695.2         $692.3        0.4%            2.7%

     *   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 (178 stores) and Japan are included
         in total company results on a one-month lag relative to results from
         other regions.

“We are pleased with our April results, particularly considering the Easter shift,” said Steven J. Douglass, Chairman and Chief Executive Officer of Payless ShoeSource, Inc. “Sales exceeded our expectations for two of the three months of the first quarter. It is clear that customers have reacted positively to the company's spring merchandise, to-date.”

“As a result of the solid performance in April, Payless met its objective of low-single digit positive same-store sales during the first quarter for the second consecutive year. Looking forward, Payless ShoeSource remains committed to its long-standing goal to continue to achieve low single-digit positive same-store sales on a consistent basis, through successful execution of our merchandise authority strategy.”