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Archive for Wednesday, March 1, 2006

Quarterly loss narrows at Payless

March 1, 2006

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Payless ShoeSource Inc. on Tuesday said it narrowed its fourth-quarter loss from a year ago, when the company paid higher costs for restructuring and discontinued operations.

For the three months ending Jan. 28, the Topeka-based retailer reported a net loss of $5.6 million, or 8 cents per share, compared with a loss of $26.5 million, or 39 cents per share, during the same period a year ago.

Not counting a change in how the company accounts for retired assets, the company said it lost 2 cents per share, in line with estimates from analysts surveyed by Thomson Financial.

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