Bakers Footwear Group (BKRS.OB) Posts Solid Q4, FY2010 Results

Mar. 29, 2011 11:21 AM ETBKRS
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Contributor Since 2008

QualityStocks ( assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with companies that have huge potential to succeed in the short and long-term future. QualityStocks provides investor relations services to publicly traded companies in exchange for compensation. The content we provide via Seeking Alpha may be part of our efforts to widen a client’s exposure. To read our full disclaimer, visit

Bakers Footwear Group Inc., a leading specialty retailer of moderately priced fashion footwear for young women, yesterday announced its financial results for the fourth quarter and full year ended January 29, 2011.

Fourth-quarter revenue was $58.2 million, up 1 percent from $57.6 million reported for the fourth quarter of 2010. Full year 2010 revenues were $185.6 million, up from $185.4 million reported for the comparable 12 month-period ended January 29, 2010.

Gross profit was $20.6 million, or 35.3 percent of net sales, compared to $21.0 million, or 36.4 percent of net sales, in the fourth quarter last year. Full-year gross profit was $49.6 million, or 26.7 percent of net sales, compared to $53.4 million, or 28.8 percent of net sales in fiscal 2009.

Selling, general and administrative expenses were $15.1 million, or 25.9 percent of net sales, compared to $14.8 million, or 25.8 percent of net sales, in the comparable quarter of 2009. Full-year selling, general and administrative expenses were $55.6 million, or 30.0 percent of net sales, compared to $56.8 million, or 30.6 percent of net sales, in fiscal 2009.

Operating income for the quarter was $5.5 million, compared to $6.1 million in the fourth quarter last year. For the full year 2010, operating loss was $7.5 million, compared to an operating loss of $6.5 million in fiscal 2009.

Net income was $5.2 million or $0.54 per diluted share, compared to $5.6 million, or $0.72 per diluted share in the fourth quarter last year. Net loss for full-year 2010 was $9.3 million or $1.14 per share, compared to a net loss of $9.1 million, or $1.24 per share in fiscal 2009.

Peter Edison, chairman and CEO of Bakers Footwear Group, said profitability in the fourth quarter is attributable to strong comparable store sales and a nearly 10 percent increase in its multi-channel sales.

“The year included progress toward our key initiatives to increase sales and position our company for improved long term operating performance. To this end, we continued our fashion leadership in footwear, which is demonstrated by the achievement of our third consecutive year of positive comparable store sales in 2010,” Edison stated in the press release. “We introduced exclusive brands in our Bakers stores to provide further differentiation in our offerings, which is expected to increase customer loyalty and broaden our consumer reach. We also capitalized on the significant runway that we see ahead to increase our multi-channel sales. At the same time, we continued to tightly manage expenses. Our increased inventory levels at year end reflected the early receipt of spring goods with aging improved from 2009. We also are happy to note that we completed the repayment of our subordinated secured term loan during the fourth quarter.”

For more information visit

Please see disclaimer on QualityStocks website:

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.