Payless ShoeSource March Same-Store Sales Increased 3.7 Percent

Apr 12, 2001, 01:00 ET from Payless ShoeSource, Inc.

    TOPEKA, Kan., April 12 /PRNewswire/ -- Payless ShoeSource, Inc.
 (NYSE:   PSS) today reported that same-store sales increased 3.7 percent during
 fiscal March, the five weeks ended April 7, 2001 versus the five weeks of
 fiscal March 2000.
     Company sales totaled $296.2 million, a 7.5 percent increase from
 $275.5 million during the five weeks of March 2000.
     Total sales for the first two months of fiscal 2001 were $467.3 million, a
 5.4 percent increase from $443.3 million during the similar period in fiscal
 2000.
     Same-store sales increased 1.6 percent during the first two months of the
 fiscal year.
 
     Sales were as follows:
 
                March Sales
           (Dollars in millions)        Percent Increase/Decrease
 
                                                 Same-Store Sales (a)
           Fiscal        Fiscal     Total      Fiscal       Comparable
            2001          2000      Sales     Basis (b)      Basis (c)
           $296.2        $275.5      7.5%       3.7%           2.1%
 
 
                Year-To-Date
                   Sales
           (Dollars in millions)        Percent Increase/Decrease
 
                                                 Same-Store Sales (a)
           Fiscal        Fiscal     Total     Fiscal        Comparable
            2001          2000      Sales     Basis (b)      Basis (c)
           $467.3        $443.3      5.4%      1.6%           (4.1)%
 
     (a) Same-store sales represent sales of those stores open during both
         periods.
     (b) "Fiscal Basis" compares fiscal 2001 to fiscal 2000.  Each fiscal
         period includes the same number of days.
     (c) "Comparable Basis" compares fiscal 2001 to the identical weeks last
         year.
 
     Commenting on the March performance, Steven J. Douglass, Chairman and
 Chief Executive Officer of Payless said,  "We are pleased with our same-store
 sales performance for the month of March.  Despite an uncertain economic
 environment, we achieved our stated goal of low single-digit positive sales
 comparisons.  We believe we are well positioned versus the competition and we
 remain committed to achieving our objectives."
     The company expects same-store sales on a fiscal basis to grow in the low
 single-digit positive range in the first quarter of 2001.   Consistent with
 previous guidance, diluted earnings per share in the first quarter of 2001 are
 expected to range between $1.25 to $1.30, an increase of 5 percent to 9
 percent above diluted earnings per share of $1.19 in the first quarter of
 2000.
     The company remains committed to achieving the annual forecast of low
 single-digit same-store sales growth and a 15 percent increase in diluted
 earnings per share for the fiscal year 2001.
 
     Payless ShoeSource, Inc. is North America's largest family footwear
 retailer.  The company operates a total of 4,902 stores including 4,622
 Payless ShoeSource stores offering quality family footwear at affordable
 prices, and 270 Parade stores featuring fashionable mid-priced women's
 footwear.  In addition, customers can buy shoes over the Internet through
 Payless.com(SM), 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 and expectations to differ
 materially from the anticipated results or expectations.  Please refer to our
 1999 Annual Report and our Form 10-K for the fiscal year ended January 29,
 2000, for more information on these and other 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.
 
 

SOURCE Payless ShoeSource, Inc.
    TOPEKA, Kan., April 12 /PRNewswire/ -- Payless ShoeSource, Inc.
 (NYSE:   PSS) today reported that same-store sales increased 3.7 percent during
 fiscal March, the five weeks ended April 7, 2001 versus the five weeks of
 fiscal March 2000.
     Company sales totaled $296.2 million, a 7.5 percent increase from
 $275.5 million during the five weeks of March 2000.
     Total sales for the first two months of fiscal 2001 were $467.3 million, a
 5.4 percent increase from $443.3 million during the similar period in fiscal
 2000.
     Same-store sales increased 1.6 percent during the first two months of the
 fiscal year.
 
     Sales were as follows:
 
                March Sales
           (Dollars in millions)        Percent Increase/Decrease
 
                                                 Same-Store Sales (a)
           Fiscal        Fiscal     Total      Fiscal       Comparable
            2001          2000      Sales     Basis (b)      Basis (c)
           $296.2        $275.5      7.5%       3.7%           2.1%
 
 
                Year-To-Date
                   Sales
           (Dollars in millions)        Percent Increase/Decrease
 
                                                 Same-Store Sales (a)
           Fiscal        Fiscal     Total     Fiscal        Comparable
            2001          2000      Sales     Basis (b)      Basis (c)
           $467.3        $443.3      5.4%      1.6%           (4.1)%
 
     (a) Same-store sales represent sales of those stores open during both
         periods.
     (b) "Fiscal Basis" compares fiscal 2001 to fiscal 2000.  Each fiscal
         period includes the same number of days.
     (c) "Comparable Basis" compares fiscal 2001 to the identical weeks last
         year.
 
     Commenting on the March performance, Steven J. Douglass, Chairman and
 Chief Executive Officer of Payless said,  "We are pleased with our same-store
 sales performance for the month of March.  Despite an uncertain economic
 environment, we achieved our stated goal of low single-digit positive sales
 comparisons.  We believe we are well positioned versus the competition and we
 remain committed to achieving our objectives."
     The company expects same-store sales on a fiscal basis to grow in the low
 single-digit positive range in the first quarter of 2001.   Consistent with
 previous guidance, diluted earnings per share in the first quarter of 2001 are
 expected to range between $1.25 to $1.30, an increase of 5 percent to 9
 percent above diluted earnings per share of $1.19 in the first quarter of
 2000.
     The company remains committed to achieving the annual forecast of low
 single-digit same-store sales growth and a 15 percent increase in diluted
 earnings per share for the fiscal year 2001.
 
     Payless ShoeSource, Inc. is North America's largest family footwear
 retailer.  The company operates a total of 4,902 stores including 4,622
 Payless ShoeSource stores offering quality family footwear at affordable
 prices, and 270 Parade stores featuring fashionable mid-priced women's
 footwear.  In addition, customers can buy shoes over the Internet through
 Payless.com(SM), 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 and expectations to differ
 materially from the anticipated results or expectations.  Please refer to our
 1999 Annual Report and our Form 10-K for the fiscal year ended January 29,
 2000, for more information on these and other 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.
 
 SOURCE  Payless ShoeSource, Inc.