Disappointing quarter at Bakers
Retailer of fashion footwear for young women Bakers Footwear Group, Inc. has reported a decline in third quarter sales.
For the thirteen weeks ended November 3, sales fell 13.4% to $40.3 million compared with $46.6 million in the corresponding period last year. Net sales for the thirty-nine week year-to-date period fell 8.4% to $131.5 million from $143.5 million in the 2006 period.
Chairman and CEO, Peter Edison, said: “We remain disappointed with our sales results, which have been affected this year by uninspiring footwear trends such as flats, which have not resonated as well as we hoped with our core customer. In addition, during the third quarter, unseasonable weather impacted boot sales and combined with softness in sandals earlier in the quarter led to the 16.6% decline in comparable store sales for the period.” He added that the start of the fourth quarter had seen a rise in boot sales.
