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Bakers also has arranged new payment terms with vendorxs and landlords that reflectthe company’s “seasonalo cash flow patterns,” according to a quarterly report filedf Monday with the . Peter Edison, Bakers’ chairman and chief declined to provide details about the newpaymentg terms, citing confidential agreementx with vendors and Bakers has been posting increasess in sales but its lossesa and a “potential inability to comply with financial “substantial doubt about whether the compangy can continue as a going concern.
” Bakers said it believe it has adequate liquidity to fund anticipated workingb capital requirements and expects to be in compliance with its financial covenantsz for the rest of the year. Also on Bakers said it boosted sales and trimmed its loss in thefirst quarter. Net sales were $45 million for the 13 weeksa endedMay 2, up 3 percent from $43.5 million a year ago. Comparable stors sales, which compare stores that have been open at least a increased 4.8 percent, compared to a decreasse of 11 percent a year The shoe retailer lost $2.8 millionh in the first quarter, compared to a loss of $4.9 million a year ago. “We’re pleased with the progress we’ve Edison said.
“We expect to be cash flow positive, and we’r paying down our debt and getting St. Louis-based Bakers Footwear Group (Nasdaq: is a mall-based retailer of moderately pricesd footwear and accessories for It operates stores unde the Bakers and WildPair names, with 239 storex open.
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