Bakers Footwear Group Inc, a leading specialty retailer of moderately priced fashion footwear for young women, with 258 stores reported first quarter fiscal 2007 net sales.
For the thirteen weeks ended May 5, 2007 (the Company's first fiscal quarter) net sales decreased 1.1% to $49.3 million, as compared to $49.8 million in the thirteen weeks ended April 29, 2006. Comparable store sales in the first quarter of fiscal year 2007 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 6 new stores in our new Bakers format and remodeled 3 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.”
Bakers Footwear Group Inc
marketing@alchempro.com
