Daisy May by Bakers

ST. LOUIS (May 7, 2009)—Contemporary mall-based chain Bakers Footwear Group, Inc. (BKRS) had good news to report for the first quarter of fiscal 2009, ended May 2. During the 13-week period, net sales were $45 million, up 3.3 percent from the prior year’s first quarter net sales of $43.5 million. During the month of April (the last four weeks of the quarter), the company also posted modest increases with net sales of $15.1 million versus $15 million in the same period last year.

Comparable store sales were also favorable for the first quarter, up 4.8 percent compared to a decrease of 11.1 percent for the first quarter of fiscal 2008. A similar trend is seen in comparable store sales for the four-weeks period ending May 2, which increased 1.9 percent, compared to a decrease of 0.1 percent for the four-week period ended May 3, 2008. 

“We are pleased to report a 4.8 percent increase in first quarter fiscal 2009 comparable stores sales, including a 1.9 percent increase in April comparable store sales, marking our eleventh consecutive month of comparable store sales gains,” says chairman and CEO Peter Edison. “During the quarter, our sales were driven by open-toe footwear across each of the styles we offer. 

“As we look ahead, we believe we are well positioned to capitalize on the increased demand for open-toe styles. Our inventory reflects this fashion trend which increases in importance relative to our overall sales mix as the second quarter progresses.”

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