Exhibit 12.1 PAYLESS SHOESOURCE, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES FOR THE LAST THREE FISCAL YEARS <Table> <Caption> Feb. 01, Feb. 02, Feb. 03, (Thousands, except ratio) 2003 2002 2001 -------- -------- -------- Earnings Available for Fixed Charges: Pretax earnings before minority interest and extraordinary loss $158,914 $ 71,810 $202,960 Fixed Charges (Interest expense plus interest component of rent) 104,341 109,873 105,054 -------- -------- -------- $263,255 $181,683 $308,014 ======== ======== ======== Fixed Charges: Gross interest expense $ 23,549 $ 30,649 $ 29,316 Interest factor attributable to rent expense 80,792 79,224 75,738 -------- -------- -------- $104,341 $109,873 $105,054 ======== ======== ======== Ratio of Earnings to Fixed Charges 2.5 1.7 2.9 ======== ======== ======== </Table>