A welted footwear construction with a direct-attach outsole and an internal tray containing a low density cushioning material. The welt may be secured to the upper and insole by one line of stitching and to the tray by a second line of stitching. The tray may include separate heel and forefoot cavities, each containing a low density cushioning material. The tray may be manufactured from thermoplastic urethane (“TPU”) and may contain low-density polyurethane (“PU”). The low-density PU may be molded in place within the cavities in the tray. The outsole may be directly attached to the undersurface of the tray, and may be manufactured from high-density PU.