US: Bakers reports wider Q1 loss
- Net sales down 3.2% to US$43.5m
- Same-store sales decreased 1.6%
- Net loss 20% wider at $3.5m
Footwear retailer Bakers Footwear has widened its first quarter loss following an "unfavorable response" to its sandal category in the latter part of the period.
Peter Edison, chairman and chief executive officer of Bakers Footwear Group, said: "While we remain cautious with regard to our near term performance given a tough sandal season, reflected by year-to-date comparable store sales.
"For the fall season, we will introduce a number of new brands and are already beginning to see promising initial reads in the boot category."
Women's shoe retailer Bakers Footwear Group slid to a bigger second quarter loss after sales edged down 1% in the three months to 31 July....
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