Payless Comps Jump 9.0% in November

Payless ShoeSource, Inc. reported same-store sales increased 9.0% during the November reporting period. Company sales totaled $207.6 million, a 5.4 percent increase from $196.9 million during fiscal November of last year.

Sales were as follows (unaudited):

                      NOVEMBER SALES* (DOLLARS IN MILLIONS)
        Fiscal           Fiscal          Percent          Same-Store Sales***
        2005**           2004**          Increase         Percent Increase
        $207.6           $196.9            5.4%                9.0%

                   YEAR-TO-DATE SALES* (DOLLARS IN BILLIONS)
        Fiscal           Fiscal          Percent          Same-Store Sales***
        2005**           2004**          Increase         Percent Increase
        $2.26            $2.25             0.8%                3.0%


 

“November results exceeded our expectations, driven by favorable customer response to our merchandise and marketing efforts during the month,” said Matt Rubel, President and Chief Executive Officer. “We remain committed to our goal of achieving low single-digit, positive same-store sales on a consistent basis by delivering trend-right, distinctive product that is differentiated from our competitors, and aligning our strategy around our customers at every level of our organization.”

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