Bakers Footwear Regains Compliance with Nasdaq Continued Listing Requirement
August 19 2008 - 4:19PM
Business Wire
Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading specialty
retailer of moderately priced fashion footwear for young women,
announced today that the Company has received a notification letter
from The Nasdaq Stock Market (�Nasdaq�), informing the Company that
it has regained compliance with a requirement for continued listing
on The Nasdaq Global Market. As previously disclosed, on June 9,
2008, Bakers received a letter from Nasdaq informing Bakers that
for the previous 30 days it had not maintained the required minimum
market value of publicly held shares of $5,000,000 or more and that
Bakers had 90 days to regain compliance. Nasdaq has now determined
that the Company�s minimum market value of publicly held shares has
been $5,000,000 or greater for at least ten consecutive trading
days. Accordingly, Nasdaq informed Bakers that it has regained
compliance with the Marketplace Rule 4450(a)(2) and this matter is
now closed. Nasdaq defines �publicly held shares� as all shares
outstanding less any shares held by the Company�s officers,
directors, and beneficial owners of 10% or more of the Company�s
shares. The Company�s common stock will continue to be traded on
the Nasdaq Global Market. 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 REPORT 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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