Bakers Footwear Group, Inc. reported second quarter sales decreased
11.0% to $42.0 million, as compared to $47.2 million in the thirteen
weeks ended July 29, 2006. Comparable store sales in the second quarter
decreased 18.3%, as compared to a 6.4% decrease in the comparable
period last year.
For the twenty-six week year to date period ended August 4, 2007 net
sales decreased 5.9% to $91.2 million, as compared to $97.0 million in
the twenty-six weeks ended July 29, 2006. Year-to-date comparable store
sales decreased 13.6% compared to a 3.6% decrease in the same period
last year.
During the second quarter of fiscal 2007, Bakers closed one store and remodeled one store in the new Bakers format.
Peter Edison, Chairman and Chief Executive Officer of Bakers Footwear
Group, stated: “An unfavorable response to sandals, which builds in
importance during the second quarter more than offset up-trending
categories of closed footwear and athletic-inspired casuals and led to
disappointing second quarter sales. During the quarter, we focused on
ensuring that our fall and holiday assortments represent fresh and
distinctive high-fashion footwear while maintaining tight control of
inventory and expenses. We remain committed to our strategies that are
expected to return Bakers to profitable growth.”
