Women’s footwear boosts sales at Payless ShoeSourc - footwearbiz: Lead

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Women’s footwear boosts sales at Payless ShoeSource

01/06/2007
 
US footwear retailer Payless ShoeSource, Inc. has reported higher sales for the first quarter ended May 5. Total sales reached $729 million, up 4.9% compared with the comparable quarter of 2006. Average unit retails increased 2% and total unit sales grew 3%, primarily driven by women's footwear and greater customer conversion, although sales were offset by underperformance in sandals. Comparable store sales improved 5%.

"Payless delivered a very respectable quarter of sales and earnings through continued execution of our strategy in spite of some challenging weather conditions during the period," said Matthew Rebel, CEO and president.

Payless claims to be the largest specialty family footwear retailer in the western hemisphere, operating a total of 4,564 stores at the end of the first quarter.




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