Bakers Footwear Group Takes Major Hit

St. Louis-based cataloger/retailer Bakers Footwear Group took a major hit in its bottom line during the third quarter ended Nov. 3. Net loss totaled $15.3 million, nearly six times more than the $2.6 net loss for the same period in 2006. Net sales fell 4.2%, to $40.3 million, compared to $46.6 million for the same period in 2006. The company’s same-store sales sunk 16.6%.

Bakers CEO Peter Edison addressed the shoes merchant’s performance in a statement: “We are disappointed with our third-quarter results, which reflect a more aggressive clearance of sandals given the unfavorable response to this segment of our business early in the quarter, as well as unseasonably warm weather that led to lower levels of store traffic and affected boot sales during the latter half of the period.”

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