Bakers Footwear Group Inc a leading specialty retailer of moderately priced fashion footwear for young women, with 257 stores reported second quarter fiscal 2007 net sales.
For the thirteen weeks ended August 4, 2007, (the company's second fiscal quarter) net 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.”
Bakers Footwear Group Inc
marketing@alchempro.com
