Exhibit 99.2

Script for September Sales Comments -- Thursday, October 7th, 2004
- ------------------------------------------------------------------

The following are comments expanding on same-store sales results for Payless
ShoeSource, Inc. during the September reporting period for fiscal year 2004, the
five weeks ended October 2nd, 2004.

Payless ShoeSource reported that corporate same-store sales decreased 6.5
percent during September 2004 versus the same five weeks of September 2003.
September same-store sales decreased 5.6% excluding the approximately 440 North
American Payless ShoeSource and Parade stores that the company previously
announced it will exit as part of its strategic initiatives. The company will
begin to liquidate the inventory in most of these stores in October, at which
time they will be eliminated from the same-store sales calculations.

Total company sales in September 2004 were $250.2 million dollars, versus total
sales of $269.5 million in September 2003.

Our strongest categories included athletics, which were strong across all
categories, accessories, and children's shoes. Weaker categories included boots
and women's and men's dress and casual shoes.

By region, our business was strongest in the West, followed by the Northeast,
Northcentral, and the South.

We are not satisfied with our September sales results. To improve the near-term
execution of our core business strategy-- to be the Merchandise Authority in
value-priced footwear and accessories through merchandise that is Right,
Distinctive and Targeted for our customers-- we are adjusting certain key
tactics, including:

      o     refocusing and intensifying our messaging, increasing the frequency
            of communication with customers through print and broadcast media;

      o     simplifying our process for the planning and execution of
            merchandise assortments;

      o     and adjusting our store-level execution to achieve better balance
            between the tasks necessary to run a best-of-kind retail store and
            customer service through use of our Key Service Behaviors.



Payless ShoeSource is committed to serving the interests of our shareowners by
building long-term shareowner value. We have made difficult decisions and are
taking action to position ourselves for improved performance in 2005 and beyond.
Because of the negative sales results in the past three months, it is unlikely
that the company will achieve its objective of 30% gross margin for fiscal 2004,
however gross margins for the second half and full year 2004 should exceed 2003
levels. We also intend to successfully complete all of our strategic initiatives
by fiscal year-end 2004, and to end the year with our inventory assortment
appropriately positioned for Spring 2005.

In August the company announced a series of strategic initiatives as part of a
plan designed to sharpen the company's focus on its core business strategy,
reduce expenses, accelerate decision-making, increase profitability, improve
operating margin, and build value for shareowners over the long-term. The
initiatives include exiting Parade, Peru and Chile; the closing of approximately
260 additional Payless ShoeSource stores; the reduction of wholesale businesses
that provide no significant growth opportunity; and a reduction of the company's
expense structure.

During September, the company eliminated approximately 200 management and
administrative positions, and closed 29 of the 260 Payless ShoeSource stores.

In early October, the company began to liquidate the inventory in approximately
190 Payless ShoeSource stores, and will soon commence inventory liquidation in
all Parade stores. These stores will be excluded from same-store sales
calculations beginning in October. Revenues from the stores will be included in
the company's total sales until the stores close.

At the end of September, we were operating 5,048 total stores, including 148
stores in the Central American region, 62 stores in South America and 299 stores
in Canada.

This recording contains forward-looking statements relating to anticipated
financial performance. A variety of known and unknown risks and uncertainties
and other factors could cause actual results to differ materially from the
anticipated results or expectations. Please refer to the company's Annual Report
on Form 10-K for the fiscal year ended January 31, 2004, and the Form 10-Q for
the quarter ending July 31, 2004, for more information on risk factors that
could cause actual results to differ. The company does not undertake any
obligation to release publicly any revisions to such forward-looking statements
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.



Thank you for your interest in Payless.

To hear this recording again, press 1. To return to the main menu, press 2.