US: Bakers slips to wider Q2 loss
- 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.”
The following is a general roundup of US apparel and shoe chains' January 2011 sales results. The list will be updated as new results become available. ...
The following is a general roundup of US apparel and shoe chains' August 2010 sales results. The list will be updated as new results become available....
Shoe retailer Bakers Footwear Group has narrowed its third-quarter loss thanks to higher sales at its 236 stores....
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