Sales slip at Bakers Footwear

21/06/2007


An unfavourable response to its spring collections has led to lower sales at US ladies’ footwear retailer Bakers Footwear Group, Inc.

Net sales for the first quarter ended May 5 slipped to $49.3 million compared with $49.8 million for the comparable period in 2006, whilst comparable store sales decreased 9.3%, compared with a decrease of 0.8% in the prior-year period.

Net loss was $1 million compared with net income of $0.7 million in the first quarter last year.

Commenting on the results Peter Edison, chairman and CEO said, “Our first quarter performance reflected a lack of enthusiasm for our fashion footwear by our core customers and an unfavourable response to our spring assortments across our key fashion categories. On a positive note, we did achieve our inventory goals. At quarter end, inventory declined 1.4% from last year despite adding 13 net new stores since the first quarter of fiscal 2006.”

Bakers sells private label and national brand dress, casual and sport shoes, boots, sandals and accessories targeted at women aged between 16 and 35. It currently operates over 250 stores across the USA.