Bakers Footwear Group Inc, a leading specialty retailer of moderately priced fashion footwear for young women, announced results for the thirteen and twenty-six weeks ended July 29, 2006.
For the second quarter, the thirteen weeks ended July 29, 2006:
-- Net sales increased 4.3 percent, to $47.2 million from $45.3 million for the thirteen weeks ended July 30, 2005. Comparable store sales decreased 6.4 percent compared to a 12.7 percent increase last year;
-- Operating loss was $1.5 million, a decrease of $3.5 million from operating income of $2.0 million, in the same period a year ago;
-- Net loss was $1.0 million, or $(0.16) per share, as compared to net income of $1.2 million, or $0.19 per diluted share in the second quarter of 2005; and
-- As a result of adopting FAS 123R, the Company recognized $0.02 per share related to stock based compensation expense in the second quarter of 2006. The Company recognized no stock-based compensation expense in the second quarter of 2005.
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Bakers Footwear Group is a national, mall-based, specialty retailer of distinctive footwear and accessories for young women.
The Company's merchandise includes private label and national brand dress, casual and sport shoes, boots, sandals and accessories. The Company currently operates more than 240 stores nationwide under two formats, Bakers and Wild Pair.
Bakers Footwear Group Inc
marketing@alchempro.com
