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Accessories penetration to total sales continues to grow at Wilsons Leather
12 Nov '07
2 min read
Wilsons The Leather Experts Inc reported sales of $20.0 million for the four weeks ended November 3, 2007 as compared to $25.0 million for the four weeks ended October 28, 2006.
Year-to-date sales for the Company's stores decreased 15.6% to $159.0 million compared to $188.3 million for the same period last year.
Comparable store sales decreased 21.8% for the four weeks ended November 3, 2007; this decrease compares to a 13.5% decrease in comparable store sales for the four weeks ended October 28, 2006. Year-to-date comparable store sales decreased 15.8% compared to a decrease of 13.9% for the same period last year.
Michael Searles, Chief Executive Officer, commented, "Our results for the month of October were disappointing, although not surprising. Warmer weather across most of the country negatively impacted our outerwear sales.
We continue to see that when the weather is cooler than normal, we experience positive results. Accessories penetration to total sales continues to grow significantly year-over-year but has not been enough to overcome the softness we are experiencing in our outerwear categories.
Comparable store sales of accessories at our mall stores were positive for October, with handbag comparable store sales showing an increase of 29.5% over last year."
On Tuesday, November 20, 2007 at 4:30 p.m. (ET), Wilsons Leather will hold a conference call to discuss the Company's third quarter results, which will be reported in a press release earlier that afternoon.
Michael Sweeney, Chairman of the Board, Michael Searles, Chief Executive Officer and Stacy Kruse, Chief Financial Officer, will participate in the call.
Year-to-date sales for the Company's stores decreased 15.6% to $159.0 million compared to $188.3 million for the same period last year.
Comparable store sales decreased 21.8% for the four weeks ended November 3, 2007; this decrease compares to a 13.5% decrease in comparable store sales for the four weeks ended October 28, 2006. Year-to-date comparable store sales decreased 15.8% compared to a decrease of 13.9% for the same period last year.
Michael Searles, Chief Executive Officer, commented, "Our results for the month of October were disappointing, although not surprising. Warmer weather across most of the country negatively impacted our outerwear sales.
We continue to see that when the weather is cooler than normal, we experience positive results. Accessories penetration to total sales continues to grow significantly year-over-year but has not been enough to overcome the softness we are experiencing in our outerwear categories.
Comparable store sales of accessories at our mall stores were positive for October, with handbag comparable store sales showing an increase of 29.5% over last year."
On Tuesday, November 20, 2007 at 4:30 p.m. (ET), Wilsons Leather will hold a conference call to discuss the Company's third quarter results, which will be reported in a press release earlier that afternoon.
Michael Sweeney, Chairman of the Board, Michael Searles, Chief Executive Officer and Stacy Kruse, Chief Financial Officer, will participate in the call.
Wilsons The Leather Experts Inc
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