EXHIBIT 23.1

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

         As   independent   public   accountants,   we  hereby  consent  to  the
incorporation by reference in this Amendment No. 2 to registration  statement on
Form  S-8  (File  No.   333-28483)  of  our  report  dated  February  20,  1998,
incorporated by reference in the Payless ShoeSource, Inc. Form 10-K for the year
ended  January 31,  1998,  and to all  references  to our firm  included in this
registration statement.


/s/ARTHUR ANDERSEN LLP
   ARTHUR ANDERSEN LLP

St. Louis, Missouri
June 2, 1998