US: Bakers Footwear narrows Q2 loss on higher sales
- Q2 net loss narrows to $1.6m from $2.1m
- Net sales were up 2.3% to $44.3m
- Comparable store sales increased 4.7%
Higher sales and margins have helped Bakers Footwear Group Inc narrow its second quarter loss, with the women's shoe retailer adding that same-store sales have continued to improve as the autumn season progresses.
"We are pleased to report improved second quarter results and continue our positive momentum from the first quarter," said chairman and CEO Peter Edison.
"The second quarter included a 4.7% increase in comparable store sales, a 180 basis point expansion in gross margin and a reduction of our operating loss as compared to the second quarter last year reflecting the progress of our merchandising, marketing and margin enhancement initiatives.
"During the quarter, our customers responded favourably to our dress and club assortments, which more than offset a challenging casual sandal season."
He added that the company, which operates 233 stores, also saw continued strength in its exclusive H By Halston and Wild Pair brands, and that e-commerce sales rose 16.2%.
"We are encouraged by our positioning as we begin the third quarter," Edison continued. "Our comparable store sales are improving as the fall season progresses reflecting continued positive trends in closed footwear in all categories. We also expect to continue the improvement in merchandise margin over last year."
Speciality retailer Bakers Footwear Group has sold its Wild Pair brand to footwear business Steve Madden for up to US$4m....
Retailer Bakers Footwear Group Inc has posted "disappointing" third quarter results after losses widened as sales of dress boots sales slumped....
- Why China 5-year plan won't change garment-making
- Supply chains under pressure as Black Friday looms
- Navigating a turbulent sourcing landscape
- C&A building brand loyalty through consistent fit
- Jordan garment sector strong amid regional unrest
- US Q3 in brief: Burlington Stores, Guess, Chico's
- Adidas has greenest textile supply chain in China
- Global clothing and footwear trade to drop by 1.5%
- Cambodia living wage campaign kicks off
- New Balance launches first 3D printed running shoe
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Technical Textile Markets: Product Developments and Innovations - 2nd Quarter 2015