USA: Bakers Sees Poor 2004 Sales, Losing Out To Lower End
Footwear and accessory company, Bakers Footwear Group Inc, has said it expects it will miss Wall Street estimates for 2004 earnings due to poor back-to-school sales.
The retailer said that the young, female market that it targets has been opting for lower-priced casual footwear, leading to lower-than-expected demand for back-to-school items.
Bakers forecasts that same-store sales will decrease by the mid-to-high single digits in the third quarter.
Bakers Footwear operates more than 200 stores under the Bakers Footwear and Wild Pair brands. The retailer sells shoes, clothes and accessories for women aged 12 to 29.
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