US: Bakers Footwear narrows Q2 loss
- Net loss narrows to $1.7m
- Sales edge up 0.3% to $43.7m
- Same-store sales increase 0.7%
Higher sales have helped Bakers Footwear Group Inc to narrow its second quarter loss, but the women's shoe retailer says its performance is still "below plan."
The specialty retailer, which operates 240 stores, managed to narrow its net loss to $1.7m or $0.24 per share, from $2.3m or $0.32 per share in last year's quarter.
Sales for the three months to 1 August edged up 0.3% to $43.7m from $43.6m last time, and same-store sales rose 0.7% - marking the fifth consecutive quarter of positive comps.
Gross profit was flat with last year at $12.9m, or 29.6% of net sales.
Peter Edison, chairman and CEO said the results show "that our strategies are working and leading to improved performance."
He added that the company is "encouraged" by strong early sell-through in its boot category and is "optimistic" of improved operating results for the rest of the fiscal year.
The following is a general roundup of US apparel and shoe chains' December 2009 sales results. The list will be updated as new results become available....
Women's footwear retailer Bakers Footwear Group has reported a widened Q3 net loss, as sales declined due to weak demand for our transitional fall product....
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