Bakers Footwear Reports First Quarter Sales; First Quarter Comparable Store Sales Decrease 0.8%
04 May 2006 - 9:00PM
Business Wire
Bakers Footwear Group, Inc. (Nasdaq: BKRS), the leading specialty
retailer of moderately priced fashion footwear for young women,
with 245 stores, today reported first quarter fiscal 2006 net
sales. For the thirteen weeks ended April 29, 2006 (the Company's
first fiscal quarter) net sales increased 10.8% to $49.8 million,
as compared to $44.9 million in the thirteen weeks ended April 30,
2005. Comparable store sales in the first quarter decreased 0.8%,
as compared to a 7.8% increase in the comparable period last year.
Our web store net sales, which are a component of comparable store
sales, increased 172.9%. During the first quarter of fiscal 2006,
Bakers Footwear opened 12 new stores in our new Bakers format. The
Company now has 133 stores operating in its new Bakers format.
Peter Edison, Chairman and Chief Executive Officer of Bakers
Footwear Group, said: "Softness in our sandal business caused first
quarter comparable store sales to fall short of our goal for a
low-to-mid single digit increase. We are working aggressively to
improve this segment of our business while positioning our stores
to capitalize on the exciting new trends developing in time for the
back-to-school season. We also remain pleased with our new store
expansion and remodel programs, which remain on track with our
expectations. As in prior years, performance of our new format
stores continues to exceed older format stores, demonstrating the
effectiveness of our new store design." About Bakers Footwear Group
Bakers Footwear Group, Inc. is a national, mall-based, specialty
retailer of distinctive footwear and accessories for young women.
The Company's merchandise includes private label and national brand
dress, casual and sport shoes, boots, sandals and accessories. The
Company currently operates over 225 stores nationwide under two
formats, Bakers and Wild Pair. Bakers' stores focus on women
between the ages of 16 and 35. Wild Pair stores offer
fashion-forward footwear to both women and men between the ages of
17 and 29. THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS
(WITHIN THE MEANING OF SECTION 27(A) OF THE SECURITIES ACT OF 1933
AND SECTION 21(E) OF THE SECURITIES EXCHANGE ACT OF 1934). BAKERS
FOOTWEAR HAS NO DUTY TO UPDATE SUCH STATEMENTS. ACTUAL FUTURE
EVENTS AND CIRCUMSTANCES COULD DIFFER MATERIALLY FROM THOSE SET
FORTH IN THIS STATEMENT DUE TO VARIOUS FACTORS. FACTORS THAT COULD
CAUSE THESE CONDITIONS NOT TO BE SATISFIED INCLUDE MATERIAL CHANGES
IN CAPITAL MARKET CONDITIONS OR IN BAKERS FOOTWEAR'S BUSINESS,
PROSPECTS, RESULTS OF OPERATIONS OR FINANCIAL CONDITION AND OTHER
RISKS AND UNCERTAINTIES, INCLUDING THOSE DETAILED IN BAKERS
FOOTWEAR'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.
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