SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                February 27, 2004
                Date of Report (Date of earliest event reported)

                            PAYLESS SHOESOURCE, INC.
             (Exact Name of Registrant as Specified in its Charter)

                                    DELAWARE
                 (State or Other Jurisdiction of Incorporation)

              1-14770                                43-1813160
      (Commission File Number)           (IRS Employer Identification No.)

                           3231 Southeast Sixth Avenue
                            Topeka, Kansas 66607-2207
               (Address of Principal Executive Office) (Zip Code)

                                 (785) 233-5171
              (Registrant's Telephone Number, Including Area Code)


Item 9  Regulation FD Disclosure and
Item 12 Results of Operations and Financial Condition

      On February 27, 2004, Payless ShoeSource, Inc., a Delaware corporation,
issued a press release announcing its results for the fourth quarter and fiscal
year 2003, which ended January 31, 2004. The full text of the press release is
attached hereto as Exhibit 99.1 and incorporated by reference herein.

Exhibits:

   99.1 Press Release, dated February 27, 2004.


                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                     PAYLESS SHOESOURCE, INC.

Date: February 27, 2004                          By: /s/ Ullrich E. Porzig
                                                     ---------------------------
                                                     Ullrich E. Porzig
                                                     Senior Vice President
                                                     Chief Financial Officer and
                                                     Treasurer


                                  EXHIBIT INDEX

Exhibit No.       Exhibit

   99.1           Press Release, dated February 27, 2004.