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Wilsons Leather apparel sales in mall & outlet channels decline
21 Nov '07
3 min read
Wilsons The Leather Experts Inc announced results for the quarter ended November 3, 2007. Net sales decreased 10.3% to $57.8 million compared to $64.5 million for the same period last year.
Comparable store sales for the third quarter ended November 3, 2007 decreased 13.3% compared to a decrease of 15.5% in the same period last year.
Wilsons Leather reported a net loss for the 2007 third quarter of $18.5 million, or $0.51 per basic and diluted share. Our basic and diluted loss per share calculation includes a $1.7 million Series A preferred stock paid-in-kind dividend payable.
The basic and diluted loss per share for the 2007 third quarter, excluding the Series A preferred dividend, was $0.47 and compares to a net loss for the 2006 third quarter of $14.1 million, or $0.36 per basic and diluted share.
Year-to-date sales decreased 15.6% to $159.0 million compared to $188.3 million for the same period last year. Comparable store sales for the nine-month period decreased 15.8% compared to a decrease of 13.9% for the same period last year.
The 2007 year-to-date net loss was $69.2 million, or $2.23 per basic and diluted share. Our basic and diluted loss per share calculation for the year-to-date period includes $18.4 million of adjustments that increased our net loss available to common shareholders by $0.47 per basic and diluted share as a result of our June 2007 equity financing.
The 2007 year-to-date basic and diluted loss per share, excluding the financing adjustments, was $1.76 and compares to a 2006 year-to-date net loss of $45.1 million, or $1.15 per basic and diluted share.
Comparable store sales for the third quarter ended November 3, 2007 decreased 13.3% compared to a decrease of 15.5% in the same period last year.
Wilsons Leather reported a net loss for the 2007 third quarter of $18.5 million, or $0.51 per basic and diluted share. Our basic and diluted loss per share calculation includes a $1.7 million Series A preferred stock paid-in-kind dividend payable.
The basic and diluted loss per share for the 2007 third quarter, excluding the Series A preferred dividend, was $0.47 and compares to a net loss for the 2006 third quarter of $14.1 million, or $0.36 per basic and diluted share.
Year-to-date sales decreased 15.6% to $159.0 million compared to $188.3 million for the same period last year. Comparable store sales for the nine-month period decreased 15.8% compared to a decrease of 13.9% for the same period last year.
The 2007 year-to-date net loss was $69.2 million, or $2.23 per basic and diluted share. Our basic and diluted loss per share calculation for the year-to-date period includes $18.4 million of adjustments that increased our net loss available to common shareholders by $0.47 per basic and diluted share as a result of our June 2007 equity financing.
The 2007 year-to-date basic and diluted loss per share, excluding the financing adjustments, was $1.76 and compares to a 2006 year-to-date net loss of $45.1 million, or $1.15 per basic and diluted share.
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