Bakers Footwear Reports 10.4% Comparable Store Sales Increase in June 2008

  
    
  
  
    
      Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading specialty 
      retailer of moderately priced fashion footwear for young women, with 243 
      stores open, reported June 2008 sales figures. This monthly sales 
      release is being made in advance of a series of investor meetings this 
      month.
    
    
      For the five-week period ended July 5, 2008, comparable store sales 
      (sales for stores open at least one year or more) increased 10.4%, 
      compared to a decrease of 20.2% for the five-week period ended July 7, 
      2007. Net sales for the five-week June 2008 period increased $1.1 
      million or 7.3% to $16.6 million, compared to the same period last year.
    
    
      For the nine-week period ended July 5, 2008, comparable store sales 
      increased 3.0%, compared to a decrease of 17.6% in the nine-week period 
      ended July 7, 2007. Net sales for the nine-week fiscal 2008 period 
      increased $0.2 million or 0.7% to $31.7 million, compared to the 
      nine-week fiscal 2007 period.
    
    
      Peter Edison, Chairman and Chief Executive Officer of Bakers Footwear 
      Group commented, “We are delighted to achieve 
      double digit comparable store sales growth in June, which reflected 
      strength across our assortments with impressive growth in our largest 
      category of open-toe-footwear. Customers are responding well to the 
      great styles we are offering and we expect this positive momentum to 
      continue given the excitement in our current and upcoming offerings.”
    
    
      “Importantly, we are delivering this growth 
      while maintaining solid margins and prudently controlling inventory and 
      expenses,” Mr. Edison continued. “To 
      this point, we remain on target to achieve $10 million of reductions in 
      planned costs for the year. As a result, we expect to achieve improved 
      operating results in the second quarter and throughout the remainder of 
      this fiscal year. As previously disclosed, we continue to anticipate 
      that we will have adequate liquidity to fund our 2008 business plan and 
      meet our debt covenants. Please see our recent SEC filings for 
      a detailed discussion of these matters.”
    
    
      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 over 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 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, INABILITY TO COMPLY WITH 
      NASDAQ LISTING REQUIREMENTS 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 REPORT 
      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.