Payless ShoeSource Inc

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USA: Payless Shoesource Slips 19 Per Cent In Q1 just-style.com | 16 May 02

Leading footwear retailer Payless ShoeSource Inc on Wednesday suffered a 19 per cent slip in first quarter net income to $23.9 million from $29.7m in the year-ago period as price cuts ate into its gross margins.

The Kansas-based company said it underestimated demand for colour footwear but expects second quarter profits to climb 13-19 per cent year-on-year as it corrected the merchandising mistakes and cut expenses.


USA: 60-70 Jobs To Go In Payless Lay-Offs just-style.com | 16 Jan 02

In its latest round of job cuts, Payless ShoeSource Inc has laid off 60 to 70 workers in a restructuring aimed at making the shoe company more efficient. Most of the employees let go on Monday worked in Topeka, where the company has its headquarters.


USA: 60-70 Jobs To Go In Payless Lay-Offs just-style.com | 16 Jan 02

In its latest round of job cuts, Payless ShoeSource Inc has laid off 60 to 70 workers in a restructuring aimed at making the shoe company more efficient. Most of the employees let go on Monday worked in Topeka, where the company has its headquarters.


USA: Payless ShoeSource Manages Seasonal Merchandise With i2 just-style.com | 15 Jan 02

Payless ShoeSource Inc has extended its relationship with i2 Technologies Inc by selecting two software modules to optimise markdowns of seasonal merchandise in its nearly 5,000 stores. Payless is one of North America's largest family footwear retailers and maintains an average of 800 different footwear styles and colours.


USA: Sales Down 3 Per Cent At Payless ShoeSource just-style.com | 7 Dec 01

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.


USA: Sales Down 3 Per Cent At Payless ShoeSource just-style.com | 7 Dec 01

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.


USA: New Delivery Process Saves ShoeSource Staff Time just-style.com | 3 Oct 01

Staff at thousands of US shoe stores are spending more time on the shop floor and less time in stockrooms thanks to a new high-tech deliveries check-in process. Employees at 4,000 Payless ShoeSource stores are saving up to 30 minutes a week as the automated process allows them to process new deliveries faster and more efficiently.


USA: Payless ShoeSource Net Rose 17 Per Cent just-style.com | 17 May 01

Payless ShoeSource Inc said its net income rose 17 per cent for the fiscal first quarter, despite what the company said was a slow start to the quarter. The Topeka, Kan, shoe retailer reported net for the period ended May 5 of $29.7m, or $1.30 a diluted share, up from $25.4m, or 89 cents a share, for the year-earlier period. The latest results topped analysts' estimates by a penny, according to First Call/Thomson Financial. Excluding non-recurring items in last year's results, the company's profits declined 12 per cent from $33.9m, or $1.19 a share.


USA: Payless ShoeSource Net Rose 17 Per Cent just-style.com | 17 May 01

Payless ShoeSource Inc said its net income rose 17 per cent for the fiscal first quarter, despite what the company said was a slow start to the quarter. The Topeka, Kan, shoe retailer reported net for the period ended May 5 of $29.7m, or $1.30 a diluted share, up from $25.4m, or 89 cents a share, for the year-earlier period. The latest results topped analysts' estimates by a penny, according to First Call/Thomson Financial. Excluding non-recurring items in last year's results, the company's profits declined 12 per cent from $33.9m, or $1.19 a share.


USA: Payless ShoeSource To Supply Footwear To Pamida Inc just-style.com | 28 Feb 01

Payless ShoeSource Inc and ShopKo Stores Inc today announced an agreement through which Shoe Sourcing Inc, a wholly owned subsidiary of Payless, will supply footwear to Pamida, a division of ShopKo. Under the agreement, Shoe Sourcing Inc will provide virtually all of Pamida's footwear assortment to all Pamida stores beginning in July 2001.


USA: Payless ShoeSource To Supply Footwear To Pamida Inc just-style.com | 28 Feb 01

Payless ShoeSource Inc and ShopKo Stores Inc today announced an agreement through which Shoe Sourcing Inc, a wholly owned subsidiary of Payless, will supply footwear to Pamida, a division of ShopKo. Under the agreement, Shoe Sourcing Inc will provide virtually all of Pamida's footwear assortment to all Pamida stores beginning in July 2001.


USA: Payless ShoeSource January Sales Up Six Per Cent just-style.com | 8 Feb 01

Payless ShoeSource Inc has today reported that same-store sales increased 6 per cent during the January reporting period, the five weeks ended February 3, 2001 versus the comparable five weeks last year. Company sales totaled $190.6m, a 38.1 per cent increase from $138.1m during the four weeks of January 1999. Total sales for fiscal 2000 were $2.95bn, an 8 per cent increase from sales of $2.73bn during fiscal 1999.


USA: PriceSmart And Payless Team Up In Caribbean just-style.com | 19 Dec 00

PriceSmart, Inc (Nasdaq: PSMT) ( www.pricesmart.com ) has entered into a Master Lease Agreement providing Payless ShoeSource, Inc (NYSE: PSS), the US-based family footwear retailer, the option to open locations adjacent to most of PriceSmart's warehouses.


USA: Irwin Zazulia Elected To Payless Board just-style.com | 17 Nov 00

Payless ShoeSource, Inc today announced the appointment of Irwin Zazulia to its board of directors. Mr Zazulia is the retired president and CEO of Hecht's, a division of The May Department Stores Company. With the addition of Mr Zazulia, the Payless board will now have nine members.Prior to his retirement last July, Mr Zazulia had been president andCEO at Hecht's for 21 years. Previously, he had served in a number of positions for Hecht's since 1971, including, executive vice president, responsible for merchandising, vice president and general merchandise manager for apparel and accessories and divisional merchandise manager of ready-to-wear.Hecht's is a leading department store retailer in the Mid-Atlantic Region with 74 stores in Washington DC, Maryland, Virginia, North Carolina, Pennsylvania, New Jersey and Delaware. Under the Mr Zazulia's leadership, Hecht's grew from 21 stores to 74 stores.


USA: Payless ShoeSource To Be Granted $110m In Bonds just-style.com | 16 Nov 00

The City of Topeka has approved the issuance of $110m in industrial revenue bonds for Payless ShoeSource Inc. Payless will use the funds over a four-year period from 2000 through 2003.The bonds will be issued for the continual improvement and remodeling of the corporate headquarters, a new manufacturing unit at its distribution center, building improvements at the distribution center to enhance its capacity, and systems enhancements to support the continued growth of the company. Payless intends to be the sole investor in the bonds.These projects are expected to increase the Payless workforce in Topeka by 150 over the four year period, as well as provide work for local contractors. Currently, Payless employs 1,000 at the corporate office and 900 at the distribution centre.


USA: Payless ShoeSource To Be Granted $110m In Bonds just-style.com | 16 Nov 00

The City of Topeka has approved the issuance of $110m in industrial revenue bonds for Payless ShoeSource Inc. Payless will use the funds over a four-year period from 2000 through 2003.The bonds will be issued for the continual improvement and remodeling of the corporate headquarters, a new manufacturing unit at its distribution center, building improvements at the distribution center to enhance its capacity, and systems enhancements to support the continued growth of the company. Payless intends to be the sole investor in the bonds.These projects are expected to increase the Payless workforce in Topeka by 150 over the four year period, as well as provide work for local contractors. Currently, Payless employs 1,000 at the corporate office and 900 at the distribution centre.


USA: Payless ShoeSource Net Declines But EPS On Target just-style.com | 8 Nov 00

Footwear retailer Payless ShoeSource Inc on Wednesday said third-quarter net earnings fell six per cent due to higher interest expenses on long-term debt added to fund a self-tender. Earnings per share, boosted by sharp year-to-year reduction in company shares outstanding, rose to meet analysts' forecasts.The company also forecast a 23 per cent increase in diluted earnings per share in fiscal 2000, excluding one-time items. It said its goal for 2001 is to increase earnings per diluted share by 15 per cent and achieve same-store sales increases in the low single digits.The company said net earnings for the third quarter, ended October 28, fell to $32.4m from a profit of $34.6m in the same quarter a year ago. Earnings per diluted share in the quarter, on a strength of a cut in common shares outstanding to 22.5 million from 31.1 million at the end of third quarter 1999, rose 30 per cent to $1.44 from $1.11 a year ago.Wall Street analysts on average expected the retailer to earn $1.44 a share, according to research firm First Call/Thomson Financial, which tracks earnings data.Company sales for the quarter climbed to $723m from $669.4m a year ago. Same-store sales, or sales at stores open more than a year, increased 4.1 per cent in the quarter.(C) Reuters Limited 2000.


USA: Payless ShoeSource Net Declines But EPS On Target just-style.com | 8 Nov 00

Footwear retailer Payless ShoeSource Inc on Wednesday said third-quarter net earnings fell six per cent due to higher interest expenses on long-term debt added to fund a self-tender. Earnings per share, boosted by sharp year-to-year reduction in company shares outstanding, rose to meet analysts' forecasts.The company also forecast a 23 per cent increase in diluted earnings per share in fiscal 2000, excluding one-time items. It said its goal for 2001 is to increase earnings per diluted share by 15 per cent and achieve same-store sales increases in the low single digits.The company said net earnings for the third quarter, ended October 28, fell to $32.4m from a profit of $34.6m in the same quarter a year ago. Earnings per diluted share in the quarter, on a strength of a cut in common shares outstanding to 22.5 million from 31.1 million at the end of third quarter 1999, rose 30 per cent to $1.44 from $1.11 a year ago.Wall Street analysts on average expected the retailer to earn $1.44 a share, according to research firm First Call/Thomson Financial, which tracks earnings data.Company sales for the quarter climbed to $723m from $669.4m a year ago. Same-store sales, or sales at stores open more than a year, increased 4.1 per cent in the quarter.(C) Reuters Limited 2000.


USA: Footwear Retailer Parade Launches Website just-style.com | 9 Oct 00

Parade, the mid-priced women's footwear and value family footwear retailer, has launched its own website - paradeofshoes.com. This new site is filled with information that Parade'sfashion-oriented customers are looking for, including: Updates on the latest styles available in Parade stores;


USA: Payless ShoeSource to Market Wolverine World Wide's New Stanley Footwear Brand just-style.com | 9 May 00

Wolverine World Wide, Inc. (NYSE:WWW) and The Stanley Works (NYSE:SWK) today announced a global licensing agreement to manufacture and market Stanley® branded footwear. In a related move, Wolverine also reached agreement with Payless ShoeSource, Inc. (NYSE:PSS) to market this new brand of work boots and shoes in its stores throughout the United States.


USA: Designs, Inc. Appoints President and CEO just-style.com | 11 Apr 00

Designs, Inc. (NASDAQ:DESI), operator of Levi's® and Dockers® Outlet stores, is pleased to announce the appointment of David A. Levin to the position of President and Chief Executive Officer. Mr. Levin brings 30 years of retail experience to the Company. Previously, he was President of Revlon, Inc.'s 200 store retail outlet chain. He also served as President of The Coleman Company's outlet division, where he developed the Camp Coleman outlet concept. Mr. Levin was also President of Parade of Shoes, a 200 store specialty women's shoe chain. His extensive experience includes senior merchandising positions at Payless ShoeSource and Mervyn's. Most recently he was Executive Vice President of Retail Strategy at eOutlets.com, a Prime Retail subsidiary, where he was responsible for developing strategic initiatives for the e-commerce start-up. Designs, Inc. operates 103 stores located in outlet centers througout the eastern United States.

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