Payless ShoeSource, Inc. reported that same-store sales increased 4.1% during May. Company sales totaled $240.2 million, a 2.4% increase from $234.5 million during fiscal May of last year. For the year-to-date period, sales increased 0.9% to $935.4 million from $926.9 million last year.
Sales were as follows (unaudited):
MAY SALES* (DOLLARS IN MILLIONS)
Fiscal Fiscal Percent Same-Store Sales***
2005** 2004** Increase/ Percent
(Decrease) Increase/(Decrease)
$240.2 $234.5 2.4% 4.1%
YEAR-TO-DATE SALES* (DOLLARS IN MILLIONS)
Fiscal Fiscal Percent Same-Store Sales***
2005** 2004** Increase/ Percent
(Decrease) Increase/(Decrease)
$935.4 $926.9 0.9% 3.1%
* 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.
*** 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.
Payless ShoeSource was pleased with its May results. Customers have continued to react positively to the company's spring merchandise, to-date, as indicated by the solid performance in May.
Looking forward, the company 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.
