Bakers Footwear Reports Second Quarter Fiscal 2005 Sales; Second Quarter Comparable Store Sales Increase 12.7%
August 04 2005 - 7:00AM
Business Wire
Bakers Footwear Group (Nasdaq: BKRS), the leading specialty
retailer of moderately priced fashion footwear for young women,
with 225 stores, today reported second quarter net sales figures.
For the thirteen weeks ended July 30, 2005 (the Company's second
fiscal quarter) net sales increased 27.8% to $45.3 million up from
$35.4 million in the thirteen weeks ended July 31, 2004. Comparable
store sales in the second quarter increased 12.7% compared to a
3.0% increase in the same period last year. For the twenty-six week
year to date period ended July 30, 2005 net sales increased 21.8%
to $90.2 million up from $74.1 million in the twenty-six weeks
ended July 31, 2004. Year to date comparable store sales increased
10.1% compared to a 6.6% increase in the same period last year.
During the second quarter of fiscal 2005, Bakers Footwear opened 6
new stores and remodeled 8 existing stores into its new store
format and currently operates 225 stores. The company now has 100
stores operating in its new format. Comparable store sales for the
Company's 72 new format locations open for more than a year
increased by 15.1% in the second quarter and by 13.8% in the first
half of 2005. Peter Edison, Chairman and Chief Executive Officer of
Bakers Footwear Group, said, "Our stores continued to delight young
female shoppers, as evidenced by our 12.7% increase in comparable
store sales during the second quarter. Fueling this growth was
continued strength in sales of feminine and embellished open toe
styles." Edison concluded, "Bakers is a preferred destination for
the young woman given our ability to consistently meet her
expectations. Increased traffic, along with an abundance of new
trends for us to capitalize on and our store expansion plans has us
positioned for continued growth during the balance of the year."
About Bakers Footwear Group 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 over
200 stores nationwide under two formats, Bakers and Wild Pair.
Bakers stores focus on women between the ages of 15 and 29. Wild
Pair stores offer fashion-forward footwear to both women and men
between the ages of 17 and 24. 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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