Bakers Footwear Group third quarter net sales increased 33.9% to $43.2 million up from $32.3 million in 2004. Comparable store sales in the third quarter increased 21.0% compared to a 7.6% decrease in the same period last year. For the thirty-nine week year to date period ended October 29, 2005 net sales increased 25.5% to $133.4 million up from $106.4 million in the thirty-nine weeks ended October 30, 2004. Year to date comparable store sales increased 13.4% compared to a 1.9 % increase in the same period last year.
During the third quarter of fiscal 2005, Bakers Footwear opened 11 new stores, 9 of which were new format Bakers stores and 2 new Wild Pair stores. The Company also remodeled 6 existing stores, 3 into Bakers new store format and 3 into Wild Pair stores. The company now has 112 stores operating in its new Bakers format. Comparable store sales for the Company's 85 new format locations open for more than a year increased by 23.2% in the third quarter and by 17.0% in the first nine months of 2005.
Peter Edison, Chairman and Chief Executive Officer of Bakers Footwear Group, said, “Our sales strength accelerated in the third quarter with comparable store sales increasing 21.0% versus the third quarter last year. During the quarter, we experienced strong regular-priced selling across each of our footwear categories with particular strength in western boots. We also continued to see tremendous success in both our Bakers and Wild Pair new and remodeled stores. Clearly, our initiatives are working and have us well positioned to capitalize on the holiday season.”
