USA: Sales Down 3 Per Cent At Payless ShoeSource
The US's largest shoe store chain, Payless ShoeSource Inc, said it expects to post operating earnings of 35 cents to 40 cents a share in the fourth quarter, excluding a pre-tax restructuring charge of $18 million to $20 million, or 50 cents to 55 cents a share. The company's November same-store sales fell 3 per cent, and total sales for the four weeks ended 1 December declined 0.4 per cent to $216 million from $217 million a year earlier.
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