USA: Bakers Posts Q2 Sales, Profit Growth
Ladies' footwear and accessories retailer Bakers Footwear Group Inc has reported second-quarter sales and profit increases after boosting productivity through store expansion and remodelling.
Net sales for the quarter ended 30 July grew 27.8 per cent to $45.3 million from $35.4m in the same period last year, while same-store sales rose 12.7 per cent compared to an increase of 3.0 per cent a year ago.
Second-quarter net income totalled $1.2m compared to a net loss of $0.5m for the second quarter of 2004.
President Michele Bergerac said: "Our merchandising and store initiatives continue to generate robust traffic and increased purchases in our Bakers and Wild Pair stores.
"During the quarter we experienced particular strength in open-toe, embellished and sandal type footwear."
The company also reported that net sales for the first half of the year grew 21.8 per cent to $90.2m from $74.1m last year, while same-store sales rose 10.1 per cent compared to a 6.6 per cent growth a year ago. First-half net income was $3.1m compared to $0.3m last year.
Bakers Footwear Group is a national, mall-based, specialty retailer of distinctive footwear and accessories for young women. The company opened six new stores during the quarter and remodelled eight existing stores.
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