Bakers Footwear Group profit up in Q4

St. Louis Bakers Footwear Group reported that its fourth-quarter net sales were $57.6 million, an increase of 3.9% from $55.5 million for the 13-week period ended January 31, 2009.

Net income was $5.6 million compared with $0.5 million in the fourth quarter last year. Meanwhile, same-store sales increased 3.9% compared with 3.6% in the prior-year period.

For the year, net sales were $185.4 million, up from $183.7 million for the 52 weeks ended January 30, 2009. Same-store sales increased 1.3%, compared with a 0.5% increase in fiscal 2008.

Net loss was $9.1 million, compared with a net loss of $15.0 million last year.

“As we look ahead, we believe we are well positioned and expect another year of solid improvement in fiscal 2010,” said Peter Edison, chairman and CEO of Bakers Footwear Group. “Our goals for the year are to pay off our subordinated secured term loan and continue to improve cash flow, as we drive increases in comparable store sales and gross profit margin while targeting a further reduction in expenses.”