Exhibit 99.1
PAYLESS SHOESOURCE REPORTS JUNE SAME-STORE SALES INCREASED BY 1.7%
TOPEKA, Kan., July 7 /PRNewswire-FirstCall/ -- Payless ShoeSource, Inc.
(NYSE: PSS) today reported that same-store sales increased 1.7 percent during
the June reporting period, the five weeks ended July 2, 2005. All data in this
press release relate to continuing operations.
Company sales totaled $275.8 million, a 0.3 percent decrease from $276.6
million during fiscal June of last year.
Sales were as follows (unaudited):
JUNE SALES* (DOLLARS IN MILLIONS)
-----------------------------------------------------------
Percent Same-Store Sales***
Fiscal Fiscal Increase/ Percent
2005** 2004** (Decrease) Increase/(Decrease)
---------- ---------- ---------- -------------------
$ 275.8 $ 276.6 (0.3)% 1.7%
YEAR-TO-DATE SALES* (DOLLARS IN BILLIONS)
-----------------------------------------------------------
Percent Same-Store Sales***
Fiscal Fiscal Increase/ Percent
2005** 2004** (Decrease) Increase/(Decrease)
---------- ---------- ---------- -------------------
$ 1.21 $ 1.20 0.6% 2.8%
* 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 (178 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.
Our June Sales performance was consistent with the company's long term
objectives. Looking forward, Payless ShoeSource remains committed to its goal to
continue to achieve low single-digit positive same-store sales on a consistent
basis, through successful execution of our merchandise authority strategy.
Payless ShoeSource, Inc. is the largest specialty family footwear retailer
in the Western Hemisphere. As of the end of June 2005, the Company operated a
total of 4,632 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. 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 29, 2005 and the form 10-Q for
the period ending April 30, 2005, 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 June 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- 07/07/2005
/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 /