US: Bakers Footwear narrows Q3 loss
- Q3 net loss narrowed to $8.9m from $10.2m
- Net sales rose 3.9% to $40.6m from $39.0m
- Comparable store sales up 5.9%
Shoe retailer Bakers Footwear Group has narrowed its third-quarter loss thanks to higher sales at its 236 stores.
“Our performance was driven by continued strength in boots and dress shoes as well as a strong response to the launch of our exclusive brands, H by Halston and Wild Pair,” noted CEO Peter Edison.
He added: “Our fourth quarter is off to a great start and we remain confident that our strategic new product and category initiatives will lead to increases in sales and operating performance during the remainder of the holiday season and as we begin 2011.
“This is evidenced by our record Black Friday performance, and our comparable store sales increase of 4.8% for the first six weeks of the quarter.”
Bakers Footwear Group reported a reduced profit during the fourth quarter period, as sales crept forward by 1%. ...
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