• Net loss up 23.5% to US$2.1m
  • Sales down 1% to $43.3m
  • CEO blames lacklustre consumer response

 

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.

Comparable store sales were up 0.2%, but increased discounting affected profitability, the US company said.

Chairman and CEO Peter Edison described the performance as “disappointing, driven by a lacklustre response to our sandal offerings, which led to increased promotional activity during the quarter”.

But he added: “That said, we ended the quarter in a solid inventory position with improving sales trends during the latter part of the quarter.”