“As we begin the fourth quarter, sales remain challenging with November comparable store sales declining by 12.4% versus a comparable store sales increase of 29.0% last year,” Mr. Edison continued. “The comparable store sales decrease can be attributed to our boot and bootie category, which was very strong last year."
For the nine months fiscal 2006, the first thirty-nine weeks ended October 28, 2006:
--Net sales increased 7.6%, to $143.5 million from $133.4 million for the thirty-nine weeks ended October 29, 2005. Comparable store sales decreased 3.8% compared to a 13.4% increase last year.
--Gross profit in the first nine months of fiscal 2006 was $41.9 million, or 29.2% of net sales, compared to $42.2 million, or 31.6% of net sales, in the first thirty-nine weeks of fiscal 2005.
--Operating loss was $4.2 million, compared to operating income of $3.4 million, in the same period a year ago.
--Net loss was $3.0 million or $0.46 per share, as compared to net income of $2.0 million, or $0.33 per diluted share in the first thirty-nine weeks of 2005.
--As a result of adopting FAS 123R, the Company recognized $0.07 per share related to stock- based compensation expense in the first thirty nine weeks of fiscal 2006.
Michele Bergerac, President of Bakers Footwear, said: “We currently expect to open between 12 to 18 new stores in fiscal 2007 with half of these stores opening in the first half of the year."
Bakers Footwear Group Inc
marketing@alchempro.com
