Bakers Footwear Group, Inc., a specialty retailer of fashion footwear for young women, reported net sales for the third quarter ended Nov. 1 were $41.1 million, an increase of 1.9% from $40.3 million for the thirteen-week period ended Nov. 3, 2007.
Comparable store sales for the third quarter of fiscal 2008 increased 4.5%, compared to a decrease of 16.6% in the prior-year period.
Gross profit was $9 million, or 21.9% of net sales, up from $3.5 million, or 8.7% of net sales in the third quarter last year.
Impairment expense was $2.6 million, reflecting non-cash charges in connection with specific underperforming stores, compared to impairment expense of $2.4 million in the third quarter last year.
Operating loss was $7.6 million, compared to $14.9 million in the third quarter last year, and net loss was $8.3 million or a loss $1.18 per share, compared to $15.3 million, or a loss of $2.35 per share in the third quarter last year.
