US specialty retailer of women’s footwear and accessories, Bakers Footwear Group, Inc., has announced a 27.8% rise in sales for the second quarter ended July 30, 2005: Net sales increased to $45.3 million from $35.4 million for the thirteen weeks ended July 31, 2004. Comparable store sales increased 12.7% compared with a 3.0% increase last year. Net income was $1.2 million, an increase of $1.7 million from the net loss of $0.5 million in the second quarter of 2004. Gross profit in the second quarter improved to $15.0 million, or 33.1% of net sales, compared with $10.5 million, or 29.6% of net sales, in the second quarter of fiscal 2004.

For the first half ended July 30, 2005, net sales increased 21.8%, to $90.2 million from $74.1 million for the twenty-six weeks ended July 31, 2004. Comparable store sales increased 10.1% compared to a 6.6% increase last year. Net income increased $2.8 million to $3.1 million and gross profit in the first half was $30.4 million, or 33.7% of net sales.

The company has three stores in the New Orleans area that have been closed as a result of Hurricane Katrina. Due to the significant impact of the hurricane, the company has not been able to assess the damage and therefore has not determined if or when the stores will reopen.