USA: Payless Sales Down 10.3 Per Cent In January
The Topeka, Kansas-based company said it continues to expect a loss in the fourth quarter 2001 after costs of closing 104 under-performing stores.
Total sales for the four weeks ended 2 February dropped 27.4 per cent to $138.3 million from $190.6 million in the comparable five-week period last year.
In a news release Payless said fiscal fourth-quarter same-store sales were off 5.4 per cent from a year ago, while total sales declined 8.3 per cent to $642.3 million.
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