Exhibit 99.1
_+ KAN FC1 TNW ED1 IRW RWB PFM (PAYLESS SHOESOURCE INC - FINANCE 136152 CG)
524
6...ra
CGTH018 /FROM PR NEWSWIRE CHICAGO 888-776-6551/
>%
[STK] PSS
[IN] REA FAS
[SU] SLS
TO BUSINESS AND RETAILING EDITORS:
PAYLESS SHOESOURCE REPORTS MARCH SAME-STORE SALES RESULTS
TOPEKA, Kan., April 7 /PRNewswire-FirstCall/ -- Payless ShoeSource, Inc.
(NYSE: PSS) today reported that same-store sales increased 1.4 percent during
the March reporting period, the five weeks ended April 2, 2005. All data in this
press release relate to continuing operations.
Company sales totaled $270.2 million, a 1.4 percent decrease from $273.9
million during fiscal March of last year.
Total sales for the first two months of fiscal 2005 were $452.7 million, a
3.2 percent increase from $438.6 million during the similar period in fiscal
2004.
Same-store sales increased 5.9 percent during the first two months of the
fiscal year.
Sales were as follows (unaudited):
MARCH SALES* (DOLLARS IN MILLIONS)
Percent Same-Store Sales***
Fiscal Fiscal Increase/ Percent
2005** 2004** (Decrease) Increase/(Decrease)
------- -------- ---------- -------------------
$ 270.2 $ 273.9 (1.4)% 1.4%
YEAR-TO-DATE SALES* (DOLLARS IN MILLIONS)
Percent Same-Store Sales***
Fiscal Fiscal Increase/ Percent
2005** 2004** (Decrease) Increase/(Decrease)
------- -------- ---------- -------------------
$ 452.7 $ 438.6 3.2% 5.9%
* 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 (177 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 remains committed to its long-standing goal to achieve
low single-digit positive same-store sales on a consistent basis," said Steven
J. Douglass, Chairman and Chief Executive Officer of Payless ShoeSource, Inc.
"Based on quarter-to-date sales, we are on-track to achieve this objective in
the first quarter despite the fact that April sales will likely be negatively
affected by the shift in Easter to March 2005 from April last year."
Payless ShoeSource, Inc. is the largest specialty family footwear retailer
in the Western Hemisphere. As of the end of March 2005, the Company operated a
total of 4,646 stores offering quality family footwear and accessories at
affordable prices. In addition, customers can buy shoes over the Internet
through Payless.com(R), at http://www.payless.com .
This release contains forward-looking statements relating to anticipated
financial performance, strategic alternatives, and the impacts of such
alternatives on 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 October 30, 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.
For additional information regarding March 2005 sales performance, please
call the Payless ShoeSource Investor Relations phone line at 1-800-626-3204.
Select submenu 1, option 2. Or, visit our Investor Relations website at
http://www.paylessinfo.com .
SOURCE Payless ShoeSource, Inc.
-0- 04/07/2005
/CONTACT: Timothy J. Reid of Payless ShoeSource, Inc., +1-785-295-6695/
/Company News On-Call: http://www.prnewswire.com/comp/136152.html /
/Web site: http://www.paylessinfo.com /