Holiday sales slip at Bakers
Just as many analysts predicted, holiday sales have fallen at many mid-range US retailers, including footwear retailer Bakers Footwear Group, Inc.
The company, which sells moderately-priced women’s fashion footwear, reported a 5.7% drop in net sales to $43.1 million for the nine-week holiday sales period ended January 5, down from $45.7 million in the comparable period of the previous year.
But, despite the decline over the Christmas period, the company remained upbeat when comparing the period with the results seen in the third quarter. Peter Edison, chairman and chief executive, said: “Our holiday sales results reflected a solid improvement in trend from the third quarter and the comparable prior year period and were consistent with our sales plan. We also achieved our inventory reduction goals and we believe we remain on track to report improvement in fourth quarter operating results.”
Bakers Footwear currently operates over 250 stores across the USA under its Bakers and Wild Pair formats.
