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Bakers Footwear Q4 sales grows 37.7%, profit surges

03 Apr '06

3 min read

Fashion footwear maker for young women Bakers Footwear Group Inc has announced results for the fourth quarter and fiscal year ended January 28th 2006.

The net sales in the fourth quarter, the thirteen weeks ended January 28th 2006, were $61.3 million, an increase of 37.7 percent from $44.5 million for the thirteen weeks ended January 29th 2005.

Same-store sales in the fourth quarter increased 24.5 percent, compared to a 0.1 percent decline in same-store sales in the same period last year. Gross profit increased 54.7 percent to $23.1 million, or 37.7 percent of net sales, compared to $14.9 million, or 33.5 percent of net sales, in the same period last year.

The company's net income in the fourth quarter increased $2.9 million to $4.5 million compared to net income of $1.6 million in the comparable period in the prior year. Fourth quarter fiscal 2005 diluted earnings per share increased to $0.68, compared to $0.31 in the comparable period.

Peter Edison, Chairman and CEO of Bakers Footwear Group said, "Strong sales growth across a broad range of footwear styles fueled record fourth quarter results, a terrific end to an outstanding year for Bakers Footwear Group. We attribute the ongoing momentum in our sales and earnings this year to our ability to identify and interpret fashion trends combined with the successful expansion of our new Bakers store format."

For the fiscal year ended January 28th 2006, net sales increased 29.1 percent to $194.8 million, compared to net sales of $150.9 million for the fifty-two weeks ended January 29th 2005.

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