-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WDvLdV2HleJsICYPaOWF93LM7i0Hy1prH/ssqYhRAHzDC/C3uTT2YLranWle+hhT sMdNKzOe6UhYuZfBm9zbXQ== 0000891092-04-003906.txt : 20040805 0000891092-04-003906.hdr.sgml : 20040805 20040805092530 ACCESSION NUMBER: 0000891092-04-003906 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040805 ITEM INFORMATION: Other events ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAYLESS SHOESOURCE INC /DE/ CENTRAL INDEX KEY: 0001060232 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-SHOE STORES [5661] IRS NUMBER: 431813160 STATE OF INCORPORATION: DE FISCAL YEAR END: 0130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14770 FILM NUMBER: 04953316 BUSINESS ADDRESS: STREET 1: 3231 SOUTH EAST SIXTH STREET CITY: TOPEKA STATE: KS ZIP: 66607-2207 BUSINESS PHONE: 9132335171 MAIL ADDRESS: STREET 1: 3231 S E 6TH ST CITY: TOPEKA STATE: KS ZIP: 66607-2207 FORMER COMPANY: FORMER CONFORMED NAME: PAYLESS SHOESOURCE HOLDINGS INC DATE OF NAME CHANGE: 19980421 8-K 1 e18737_8k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 August 5, 2004 Date of Report (Date of earliest event reported) PAYLESS SHOESOURCE, INC. (Exact Name of Registrant as Specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 1-14770 43-1813160 (Commission File Number) (IRS Employer Identification No.) 3231 Southeast Sixth Avenue Topeka, Kansas 66607-2207 (Address of Principal Executive Office) (Zip Code) (785) 233-5171 (Registrant's Telephone Number, Including Area Code) Item 5 Other Events and Item 9 Regulation FD Disclosure On August 5, 2004, Payless ShoeSource, Inc., a Delaware corporation, issued a press release announcing its sales for the fiscal month of July, which ended July 31, 2004. The full text of the press release and the transcript of the monthly sales message are attached hereto as Exhibits 99.1 and 99.2 respectively, and incorporated by reference herein. Exhibits: 99.1 Press Release, dated August 5, 2004. 99.2 Transcript of July monthly sales message SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. PAYLESS SHOESOURCE, INC. Date: August 5, 2004 By: /s/ Ullrich E. Porzig --------------------------------- Ullrich E. Porzig Senior Vice President, Chief Financial Officer and Treasurer EXHIBIT INDEX Exhibit No. Exhibit ----------- ------- 99.1 Press Release, dated August 5, 2004. 99.2 Transcript of July monthly sales message EX-99.1 2 e18737ex99_1.txt PRESS RELEASE Exhibit 99.1 Payless ShoeSource Reports July Same-Store Sales TOPEKA, Kan., Aug. 5 /PRNewswire/ -- Payless ShoeSource, Inc. (NYSE: PSS) today reported that same-store sales decreased 6.5 percent during the July reporting period, the four weeks ended July 31, 2004. Company sales totaled $192.0 million, a 5.7 percent decrease from $203.6 million during fiscal July of last year. Sales for the second quarter were $727.9 million, a 0.5 percent decrease from $731.5 million in the second quarter 2003. Same-store sales decreased 0.9 percent during the second quarter. Same-store sales increased 0.9 percent during the first six months of the fiscal year. Sales were as follows (unaudited): JULY SALES (DOLLARS IN MILLIONS) Fiscal Fiscal Percent Same-Store Sales* 2004 2003 Increase/ Percent (Decrease) Increase/(Decrease) $192.0 $203.6 (5.7)% (6.5)% 2nd QUARTER SALES (DOLLARS IN MILLIONS) Fiscal Fiscal Percent Same-Store Sales* 2004 2003 Increase/ Percent (Decrease) Increase/(Decrease) $727.9 $731.5 (0.5)% (0.9)% YEAR-TO-DATE SALES (DOLLARS IN BILLIONS) Fiscal Fiscal Percent Same-Store Sales* 2004 2003 Increase/ Percent (Decrease) Increase/(Decrease) $1.45 $1.43 1.4% 0.9% * Effective with the end of 2003, the fiscal year for operations in the company's Latin American region is based on a December 31 year-end. Stores in the company's Latin American region (212 stores) are included in total company results on a one-month lag relative to results from other regions. ** Same-store sales represent sales of those stores in the United States, Canada, Puerto Rico, Guam and Saipan that were open during both periods. Same-store-sales exclude stores in the company's Latin American region. "The company was less promotional in the second quarter 2004 than it was in the second quarter 2003. Despite the disappointing sales performance in July, it is likely that second quarter 2004 gross margin will show improvement relative to the same period last year," said Steven J. Douglass, Chairman and Chief Executive Officer of Payless ShoeSource, Inc. "We remain committed to our stated objective of 30% gross margin for fiscal 2004. To accomplish this objective, the company must achieve low-single-digit positive same store sales on a consistent basis for the remainder of the year. We will continue to focus on improved execution of our core business strategy: to be the Merchandise Authority in value-priced footwear and accessories through merchandise that is Right, Distinctive and Targeted for our customers." Due to the possible financial impact of strategic alternatives in the second quarter, the company is precluded from providing specific earnings guidance for the period. The company intends to announce second quarter results on August 12, 2004. Payless ShoeSource, Inc. is the leading specialty footwear retailer in the Western Hemisphere. The company operates a total of 5,072 stores offering quality family footwear and accessories at affordable prices. 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 to differ materially from the anticipated results or expectations. Please refer to the company's Annual Report on Form 10-K for the fiscal year ended January 31, 2004, and the Form 10-Q for the quarter ending May 1, 2004, for more information on 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. For additional information regarding July 2004 sales performance, please call the Payless ShoeSource Investor Relations phone line at 1-800-626-3204. Select submenu 1, option 2. Or, visit our Investor Relations website at http://www.paylessinfo.com. SOURCE Payless ShoeSource, Inc. -0- 08/05/2004 /CONTACT: Timothy J. Reid of Payless ShoeSource, Inc., +1-785-295-6695/ /Company News On-Call: http://www.prnewswire.com/comp/136152.html / /Web site: http://www.payless.com http://www.paylessinfo.com / (PSS) CO: Payless ShoeSource, Inc. ST: Kansas IN: REA SU: SLS EX-99.2 3 e18737ex99_2.txt JULY SALES COMMENTS Exhibit 99.2 Script for July Sales Comments -- Thursday, August 5th, 2004 The following are comments expanding on same-store sales results for Payless ShoeSource, Inc. during the July reporting period for fiscal year 2004, the four weeks ended July 31, 2004. Payless ShoeSource reported that corporate same-store sales decreased 6.5 percent during July 2004 versus the same four weeks of July 2003. Total company sales in July 2004 were $192.0 million dollars, versus total sales of $203.6 million in July 2003. Our strongest categories included women's casuals and boots, boy's shoes, and children's athletics. Weaker categories included women's sandals, girl's dress and casual shoes, and men's shoes. By region, our business was strongest in the Northeast, followed by the Northcentral, the West and the South. The company was less promotional in the second quarter 2004 than it was in the second quarter 2003. Despite the disappointing sales performance in July, it is likely that second quarter 2004 gross margin will show improvement relative to the same period last year. We remain committed to our stated objective of 30% gross margin for fiscal 2004. To accomplish this objective, the company must achieve low-single-digit positive same store sales on a consistent basis for the remainder of the year. We will continue to focus on improved execution of our core business strategy: to be the Merchandise Authority in value-priced footwear and accessories through merchandise that is Right, Distinctive and Targeted for our customers. Due to the possible financial impact of strategic alternatives in the second quarter, the company is precluded from providing specific earnings guidance for the period. The company intends to announce second quarter results on August 12, 2004. At the end of July, we were operating 5,072 total stores, including 150 stores in the Central American region, 62 stores in South America and 296 stores in Canada. This recording 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 to differ materially from the anticipated results or expectations. Please refer to the company's Annual Report on Form 10-K for the fiscal year ended January 31, 2004, and the Form 10-Q for the quarter ending May 1, 2004, for more information on 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. Thank you for your interest in Payless. To hear this recording again, press 1. 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