Payless Profit Doubles on Rising Sales

Shoe retailer Payless ShoeSource Inc. said third-quarter profit more than doubled as it sold more stylish women’s shoes at full price.

Net income climbed to $29.6 million, or $1.30 a share, from $13.3 million, or 59 cents, a year earlier, the company said in a statement. Sales rose 2.3% to $713 million.

Shares of Topeka, Kan.-based Payless rose 84 cents to $54.40 on the NYSE.