St Louis based leading fashion footwear specialty retailer Bakers Footwear Group Inc reported third quarter net sales figures.
For the thirteen weeks ended October 29, 2005 (the Company's third fiscal quarter) net sales increased 33.9 percent to $43.2 million up from $32.3 million in the thirteen weeks ended October 30, 2004. Comparable store sales in the third quarter increased 21.0 percent compared to a 7.6 percent decrease in the same period last year.
For the thirty-nine week year to date period ended October 29, 2005 net sales increased 25.5 percent to $133.4 million up from $106.4 million in the thirty-nine weeks ended October 30, 2004. Year to date comparable store sales increased 13.4 percent compared to a 1.9 percent increase in the same period last year.
During the third quarter of fiscal 2005, Bakers Footwear opened 11 new stores, 9 of which were new format Bakers stores and 2 new Wild Pair stores. The Company also remodeled 6 existing stores, 3 into Bakers new store format and 3 into Wild Pair stores. The company now has 112 stores operating in its new Bakers format. Comparable store sales for the Company's 85 new format locations open for more than a year increased by 23.2 percent in the third quarter and by 17.0 percent in the first nine months of 2005.
Peter Edison, Chairman and Chief Executive Officer of Bakers Footwear Group, said, "Company sales strength accelerated in the third quarter with comparable store sales increasing 21.0 percent versus the third quarter last year. During the quarter, they experienced strong regular-priced selling across each of footwear categories with particular strength in western boots. They also continued to see tremendous success in both their Bakers and Wild Pair new and remodeled stores. Clearly, their initiatives are working and have us well positioned to capitalize on the holiday season."
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