US: Bakers narrows first quarter loss
- Net sales up 8% to $47.0m
- Same-store sales increase 9.3%
- Net loss down to $2.5m
US shoe retailer Bakers Footwear Group has announced a narrowed loss for the thirteen weeks ended 30 April 2011.
The company's first quarter net loss was $2.5m, compared to a net loss of $3.5m in the first quarter of last year.
Peter Edison, chairman and CEO of Bakers Footwear Group, said: “We began the year solidly, reporting increased first quarter sales, increased comparable store sales and a significant improvement in our operating performance compared to the first quarter last year.
"During the quarter, our customers responded positively to our footwear assortments across categories led by dress shoes, wedges and open-toe sandals."
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 seaso...
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