Bakers Footwear Announces Preliminary Comparable Store Sales for the Holiday Period
January 04 2007 - 6:00AM
Business Wire
Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading specialty
retailer of moderately priced fashion footwear for young women,
today announced for the two-month Holiday Sales Period ended
December 30, 2006 net sales decreased 7.9% to $45.7 million as
compared to $49.6 million for the nine week period ended December
31, 2005. Comparable store sales for the same two-month period
decreased 16.1% compared to a 27.2% increase in the comparable
period last year. Commenting on the announcement, Peter Edison,
Chairman and Chief Executive Officer of Bakers Footwear Group,
said: �Our holiday sales results were disappointing, as we
continued to face difficult comparisons in our boot and bootie
category, a significant business for us during this time of year.
We were pleased with the performance of our non-boot categories and
we believe we are taking the additional markdowns necessary to
clear out our boot and bootie inventory and end the fourth quarter
well positioned for the spring season. Looking ahead, we expect
January sales to benefit from the move of New Year�s Eve to this
month versus December last year. We are also encouraged about the
spring season given the initial positive reaction to our new
assortments, which were delivered to warm weather stores in
December.� The Company also indicated that it will be presenting at
the Cowen & Company and ICR XChange investor conferences during
January 2007. The Cowen & Company 5th Annual Consumer
Conference presentation is scheduled for Tuesday, January 9, 2007
at 2:00 pm Eastern Time at The Westin New York at Times Square. The
9th Annual ICR XChange Conference presentation is scheduled for
Thursday, January 11, 2007 at 2:25 pm Eastern Time at the St. Regis
Monarch Beach Resort & Spa in Dana Point, California. Peter
Edison, Chairman and Chief Executive Officer, will host the
presentations. About Bakers Footwear Group, Inc. Bakers Footwear
Group 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 more than 260 stores nationwide under its Bakers and Wild
Pair formats. 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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