Bakers Footwear has reported a net profit of $3.4 million for the fourth quarter of its financial year, ended last Jan. 29, down by 34.6 percent from the level of one year earlier. The American shoe retailer's sales fell by 8 percent to $53.6 million, with a same-store decrease of 7.1 percent, and the gross margin dropped to 30.2 percent because of increased promotional activity in the dress boot category. For the full financial year, the loss widened to $11 million as sales fell slightly to $185.1 million, but comparable store sales went up by 1.3 percent.