Payless ShoeSource Posts 3Q Results

Topeka, Kan., Payless ShoeSource recorded third-quarter net earnings of $6.6 million, compared to a net loss of $2.2 million in the year-ago period. Included in the retailer’s third-quarter net earnings is $7.3 million in charges related to the company’s ongoing restructuring.

Despite the improvement, the merchant’s sales fell 3.1% to $687.3 million in the quarter, weighted down by a 3.1% dip in same-store sales.