Home / Knowledge / News / Fashion / Bakers Footwear gross profit decrease in Q1
Bakers Footwear gross profit decrease in Q1
10
Jun '08
Bakers Footwear Group Inc, a leading specialty retailer of moderately priced fashion footwear for young women, announced results for the thirteen weeks ended May 3, 2008.

For the first quarter, the thirteen weeks ended May 3, 2008:
• Net sales were $43.5 million, compared to $49.3 million for the thirteen-week period ended May 5, 2007. Comparable store sales for the first quarter of fiscal 2008 decreased 11.1%, compared to a decrease of 9.3% in the prior-year period;

• Gross profit in the first quarter was $11.3 million, or 25.8% of net sales, compared to $15.3 million, or 31.0% of net sales in the first quarter last year;

• Operating loss was $4.1 million, compared to $1.2 million in the first quarter last year; and

• Net loss was $4.9 million or $0.70 per share, compared to $1.0 million, or $0.15 per share in the first quarter last year.

• The decrease in gross profit percentage in the first quarter resulted primarily from the sales shortfall which caused the Company to take additional promotional activity and reduced our operating leverage. During the first quarter of fiscal 2008, the Company opened one new store and closed one store, ending the quarter with 249 total stores.

Peter Edison, Chairman and Chief Executive Officer of Bakers Footwear Group commented, “Our first quarter results reflected a difficult start to the spring selling season driven by unseasonably cool weather and an early Easter holiday as compared to last year.


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search