Bakers' Comp Sales Drop

ST. LOUIS-Bakers Footwear Group’s same-store sales were down and its income dropped during the women retailer’s first quarter, but management vowed to move ahead with expansion plans during their quarterly conference call. Same-store sales for the quarter, which ended April 29, were down 0.8%, and net income came in at $0.7 million, down from $1.9 million during the same year-ago period.

During the quarter the company experienced “lower-than-expected sales and higher-than-expected markdowns,” says Peter Edison, the company’s chairman and chief executive officer. Sandals were the poorest-performing product for the chain.

Despite the weak results, “our growth strategy remains strong and undetermined,” Edison says. Bakers opened 12 stores in the first quarter, bringing the mall-based chain to 225 units nationwide.