Exhibit 99.1
PAYLESS SHOESOURCE REPORTS SECOND QUARTER SAME-STORE SALES INCREASED 2.2%
TOPEKA, Kan., Aug. 3 /PRNewswire-FirstCall/ -- Payless ShoeSource, Inc.
(NYSE: PSS) today reported that same-store sales increased 2.2 percent during
the second quarter of fiscal 2006, the thirteen weeks ended July 29, 2006.
Total sales for the second quarter were $706.4 million, a 1.8 percent
increase from $693.9 million during the second quarter 2005.
Sales were as follows (unaudited):
SECOND QUARTER SALES (DOLLARS IN MILLIONS)
--------------------------------------------------------------
Fiscal Fiscal Percent Same-Store Sales**
2006* 2005* Increase Percent Increase
------ ------ -------- ------------------
$706.4 $693.9 1.8% 2.2%
YEAR TO DATE SALES (DOLLARS IN BILLIONS)
--------------------------------------------------------------
Fiscal Fiscal Percent Same-Store Sales**
2006* 2005* Increase Percent Increase
------ ------ -------- ------------------
$ 1.40 $ 1.39 0.9% 1.3%
* 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 and
Japan.
"Our results in the second quarter represent the sixth consecutive quarter
that we have achieved positive comparable store sales results," said Matthew E.
Rubel, Chief Executive Officer and President. "Our customers responded
particularly well to our assortments in women's athletic and casual shoes,
girl's shoes, and men's dress and casual shoes. Looking forward, continuing to
implement the various components of our strategy will serve as a catalyst to
reach new customers and increase our share of our current customers' footwear
purchases."
The company intends to report financial results for the second quarter 2006
on Wednesday, August 23, 2006.
Payless ShoeSource, Inc. is the largest specialty family footwear retailer
in the Western Hemisphere, dedicated to democratizing fashion and design in
footwear and accessories and inspiring fun, fashion possibilities for the family
at a great value. As of the end of the second quarter 2006, the Company operated
a total of 4,584 stores. 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 28, 2006 and the Form 10-Q for
the period ending April 29, 2006 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 second quarter 2006 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- 08/03/2006
/CONTACT: Ron Cooperman of Payless ShoeSource, +1-785-295-6026/
/Company News On-Call: http://www.prnewswire.com/comp/136152.html /
/Web site: http://www.paylessinfo.com /