Bakers To Slow Store Growth

ST. LOUIS—Bakers Footwear Group will slow its new store growth in fiscal 2007. But expansion should bounce back in 2008, executives said at the company’s third quarter conference call.

After opening 34 new stores in fiscal 2006, Bakers will open 12 to 18 new stores in fiscal 2007, with half of them opening in the first half of the year. Openings will be backfill locations. The company also plans eight remodels in fiscal 2007, after completing 15 remodels in 2006.

“Our decision to slow the growth of new stores will allow us to fund the expansion from cash flow,” said Peter Edison, chairman and CEO. “We hope to accelerate the expansion in fiscal 2008.”