Leading shoe retailer loss widens in Q3

10 Dec '09

4 min read

For the first nine months of fiscal 2009, the thirty-nine weeks ended October 31, 2009:

• Net sales were $127.7 million, a slight decrease from $128.2 million for the thirty-nine week period ended November 1, 2008;
• Comparable store sales increased 0.2%, compared to a decrease of 0.8% in the first nine months of 2008;
• Gross profit was $32.4 million, or 25.4% of net sales, compared to $33.1 million, or 25.8% of net sales, in the first nine months of 2008;
• Selling, general and administrative expenses were $41.9 million, or 32.8% of net sales, compared to $43.2 million, or 33.7% of net sales in the first nine months of 2008;
• Impairment expense was $2.8 million, reflecting non-cash charges in connection with specific underperforming stores, compared to impairment expense of $2.6 million in the first nine months of 2008;
• Operating loss was $12.6 million, compared to $13.1 million in the first nine months of 2008; and
• Net loss was $14.7 million or ($2.01) per share, compared to $15.5 million, or ($2.20) per share in the first nine months of 2008.

Bakers Footwear Group Inc

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