Bakers Footwear Reports Second Quarter Sales

Bakers Footwear Group, Inc. (Nasdaq: BKRS), a leading
specialty retailer of moderately priced fashion footwear for young
women, with 247 stores, today reported second quarter fiscal 2006 net
sales.
   For the thirteen weeks ended July 29, 2006 net sales increased
4.2% to$47.2 million, as compared to $45.3 million in the thirteen
weeks ended July 30, 2005. Comparable store sales in the second
quarter decreased 6.4%, as compared to a 12.7% increase in the
comparable period last year. Our web store net sales, which are a
component of comparable store sales, increased 134.9%.
   For the twenty-six week year to date period ended July 29, 2006
net sales increased 7.5% to $97.0 million up from $90.2 million in the
twenty-six weeks ended July 30, 2005. Year to date comparable store
sales decreased 3.6% compared to a 10.1% increase in the same period
last year.
   During the second quarter of fiscal 2006, Bakers Footwear opened 4
stores in our new Bakers format. The Company now has 143 stores
operating in its new Bakers format.
   Peter Edison, Chairman and Chief Executive Officer of Bakers
Footwear Group, stated: "Continued weakness in the sandal category,
which dominates our business during the second quarter overshadowed
strong selling in closed footwear and contributed to our disappointing
sales results for the period. As we begin the third quarter, we are
encouraged by the initial reaction to our fall assortments, which will
be delivered to all stores by mid-August. We have taken the additional
markdowns which we believe are necessary to clear seasonal merchandise
and begin the fall season in a good inventory position. Our new store
openings continue to perform above our expectations and we believe new
fashion trends bode well for strengthened sales of dress shoes and
boots this fall."

   About Bakers Footwear Group

   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 under two formats,
Bakers and Wild Pair. 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.