Bakers Footwear Group, Inc. reported first quarter net sales decreased 1.1% to $49.3 million for the thirteen weeks ended May 5, as compared to $49.8 million in the year-ago period. Comparable store sales in the first quarter decreased 9.3%, as compared to a decline of 0.8% in the comparable period last year.
During the first quarter of fiscal 2007, Bakers Footwear opened six new stores in our new Bakers format and remodeled three Bakers locations.
Peter Edison, Chairman and Chief Executive Officer of Bakers Footwear Group, said: “Our sales results were disappointing, as our focused assortments and enhanced marketing were not enough to offset a difficult retail environment and our toughest comparison of the year. We did however, achieve our inventory goals. As we look ahead, we believe our assortments reflect key trends, yet we remain cautious, awaiting sustained improvements in our business. As such, we will continue to plan conservatively while maintaining our cost disciplines.”
