For the quarter ending April 29, 2006, the footwear retailersaid the company posted net earnings of $36 million, or 53 centsper share, compared to the first quarter of 2005 when it recordednet earnings of $30 million, or 45 cents per share.
Companywide sales, meanwhile, slid 0.1% below last year's figureto $694.8 million during the quarter, down from $695.2 million.Same store sales were up a slight 0.4% during the period.
The locally based firm, which operates 4,602 stores throughoutthe US, said it is hoping to get a boost in those numbers with theacquisition of the American Eagle brand of footwear andaccessories. Matthew E. Rubel, CEO and president, said the brandwill help Payless attract younger customers and accelerate thecompany's growth.
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