Bakers Footwear Reports 3.6% Comparable Store Sales Increase in November 2008
04 December 2008 - 11:00PM
Business Wire
Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading specialty
retailer of moderately priced fashion footwear for young women,
with 241 stores open, reported November 2008 sales. For November,
the four-week period ended November 29, 2008, comparable store
sales (sales for stores open at least one year or more) increased
3.6%, compared to a decrease of 3.7% for the four-week period ended
December 1, 2007. Net sales for the four-week November 2008 period
increased 1.7% to $16.2 million, compared to $16.0 million in the
same period last year. Peter Edison, Chairman and Chief Executive
Officer of Bakers Footwear Group commented, �We are pleased to
continue our positive sales performance in November by reporting a
3.6% increase in comparable store sales for the period. Our
comparable store sales gained momentum throughout the month and
included a 13.4% increase for the Thanksgiving weekend of Black
Friday, November 28, 2008 and Saturday, November 29, 2008 compared
to the two days following Thanksgiving 2007. This marked a fabulous
launch to the holiday selling season. During the month, we
experienced solid trends across all of our key categories with
particular strength in boots and dress shoes. As we look ahead, we
remain enthusiastic regarding our ability to continue our favorable
sales trends in December, especially given the strong early
performance of our holiday assortments.� About Bakers Footwear
Group, Inc. 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 240 stores
nationwide. 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 INABILITY TO SATISFY DEBT COVENANTS,
MATERIAL DECLINES IN SALES TRENDS AND LIQUIDITY, MATERIAL CHANGES
IN CAPITAL MARKET CONDITIONS OR IN BAKERS FOOTWEAR�S BUSINESS,
PROSPECTS, RESULTS OF OPERATIONS OR FINANCIAL CONDITION, INABILITY
TO COMPLY WITH NASDAQ LISTING REQUIREMENTS AND OTHER RISKS AND
UNCERTAINTIES, INCLUDING THOSE DETAILED IN BAKERS FOOTWEAR�S MOST
RECENT ANNUAL REPORT ON FORM 10-K AND OUR MOST RECENT QUARTERLY
REPORTS ON FORM 10-Q, INCLUDING THOSE DISCUSSED IN �RISK FACTORS,�
IN �MANAGEMENT�S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND
RESULTS OF OPERATIONS� AND IN NOTE 2 TO THE FINANCIAL STATEMENTS IN
THESE REPORTS, AND IN BAKERS FOOTWEAR�S OTHER FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION.
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