Bakers Footwear Announces Preliminary Comparable Store Sales for the Holiday Period

  
    
  
  
    
      Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading specialty 
      retailer of moderately priced fashion footwear for young women, today 
      announced for the nine week holiday sales period ended January 5, 2008, 
      net sales decreased 5.7% to $43.1 million, compared to $45.7 million for 
      the nine week period ended December 30, 2006. Comparable store sales 
      decreased 5.9% compared to a 16.1% decrease last year.
    
    
      Commenting on the announcement, Peter Edison, Chairman and Chief 
      Executive Officer of Bakers Footwear Group, said: “Our 
      holiday sales results reflected a solid improvement in trend from the 
      third quarter and the comparable prior year period and were consistent 
      with our sales plan. We also achieved our inventory reduction goals and 
      we believe we remain on track to report improvement in fourth quarter 
      operating results.”
    
    
      The Company also announced that it will be presenting at the Cowen & 
      Company and ICR XChange investor conferences during January 2008. The 
      Cowen & Company 6th Annual Consumer 
      Conference presentation is scheduled for Tuesday, January 15, 2008 at 
      9:00 am Eastern Time at The Westin New York at Times Square. The 10th 
      Annual ICR XChange Conference presentation is scheduled for 
      Wednesday, January 16, 2008 at 1:05 pm Eastern Time at the St. Regis 
      Monarch Beach Resort & Spa in Dana Point, California. Peter Edison, 
      Chairman and Chief Executive Officer, will host the presentations.
    
    
      About Bakers Footwear Group, Inc.
    
    
      Bakers Footwear Group 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 over 250 stores nationwide under its Bakers and Wild Pair 
      formats. 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 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 
      FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.