Bakers Footwear Reports 9.9% Comparable Store Sales Increase in December 2009
07 Enero 2010 - 6:00AM
Business Wire
Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading
specialty retailer of moderately priced fashion footwear for young
women, with 240 stores, today reported December 2009 sales.
For December, the five-week period ended January 2, 2010, net
sales increased to $30.0 million, compared to $27.4 million in the
same period last year. Comparable store sales (sales for stores
open at least one year or more) for December 2009 increased 9.9%,
compared to an increase of 3.4% for December 2008, the five-week
period ended January 3, 2009.
Peter Edison, Chairman and Chief Executive Officer of Bakers
Footwear Group commented, “We are pleased to report a 9.9%
comparable store sale increase for December, up from a 3.4%
comparable store sales increase in December last year. Our strong
performance was driven by regular price selling across our boot
styles with consumers responding favorably to new trends and great
fashion in this category. As a result of our quarter-to-date
performance, we currently expect to report fourth quarter net
income in the range of $6.0 million to $7.0 million, dramatically
ahead of fourth quarter 2008 net income of $0.5 million.”
Based on the Company’s business plan, the Company believes it
has adequate liquidity to fund anticipated working capital
requirements and expects to be in compliance with its financial
covenants throughout the remainder of 2009. The Company’s most
recent Quarterly Report on Form 10-Q and the Company’s Annual
Report on Form 10-K disclose additional information regarding its
business plan and debt agreements and provide additional disclosure
regarding the risks of the Company’s current liquidity situation
and its ability to comply with its financial covenants.
About Bakers Footwear Group, Inc.
Bakers Footwear Group, Inc. is a national, mall-based, specialty
retailer of distinctive footwear and accessories for young women.
The Company’s merchandise includes private label and national brand
dress, casual and sport shoes, boots, sandals and accessories. The
Company currently operates 240 stores nationwide. Bakers’ stores
focus on women between the ages of 16 and 35. Wild Pair stores
offer fashion-forward footwear to both women and men between the
ages of 17 and 29.
THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS (WITHIN
THE MEANING OF SECTION 27(A) OF THE SECURITIES ACT OF 1933 AND
SECTION 21(E) OF THE SECURITIES EXCHANGE ACT OF 1934). BAKERS
FOOTWEAR HAS NO DUTY TO UPDATE SUCH STATEMENTS. ACTUAL FUTURE
EVENTS AND CIRCUMSTANCES COULD DIFFER MATERIALLY FROM THOSE SET
FORTH IN THIS STATEMENT DUE TO VARIOUS FACTORS. FACTORS THAT COULD
CAUSE THESE CONDITIONS NOT TO BE SATISFIED INCLUDE INABILITY TO
SATISFY NASDAQ LISTING REQUIREMENTS, INABILITY TO SATISFY DEBT
COVENANTS, MATERIAL DECLINES IN SALES TRENDS AND LIQUIDITY,
MATERIAL CHANGES IN CAPITAL MARKET CONDITIONS OR IN BAKERS
FOOTWEAR’S BUSINESS, PROSPECTS, RESULTS OF OPERATIONS OR FINANCIAL
CONDITION, AND OTHER RISKS AND UNCERTAINTIES, INCLUDING THOSE
DETAILED IN BAKERS FOOTWEAR’S MOST RECENT ANNUAL REPORT ON FORM
10-K AND OUR MOST RECENT QUARTERLY REPORTS ON FORM 10-Q, INCLUDING
THOSE DISCUSSED IN “RISK FACTORS,” IN “MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL POSITION AND RESULTS OF OPERATIONS” AND IN
NOTE 2 TO THE FINANCIAL STATEMENTS IN THESE REPORTS, AND IN BAKERS
FOOTWEAR’S OTHER FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION.
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