Bakers Footwear has launched a $10 million cost reduction and margin improvement program, intended mainly to improve its cash flow and liquidity. As part of this program, the American chain of 233 stores is attracting new customers through its own private labels. Bakers has reported a net loss of $10.2 million for its third quarter, ended Oct. 29, compared with a $8.9 million loss in the year-ago period. Sales declined by 1 percent to $40.2 million. The management mentioned disappointing sales of dress boots, which led to increased markdowns, and indicated that the category remained difficult in the subsequent six weeks through Dec. 10, leading to a 5.5 percent drop in same-store sales.