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Wilsons The Leather Experts July same-store sales slide 18.3%

03
Aug '06
Wilsons The Leather Experts Inc reported sales of $16.1 million for the four weeks ended July 29, 2006 as compared to $19.5 million for the four weeks ended July 30, 2005.

Year-to-date sales for the company's stores decreased 13.2% to $123.8 million compared to $142.7 million for the same period last year.

Comparable store sales decreased 18.3% for the four weeks ended July 29, 2006; this decrease compares to an 8.7% increase in comparable store sales for the four weeks ended July 30, 2005. Year-to-date comparable store sales decreased 13.0% compared to an increase of 12.8% for the same period last year.

Michael Searles, Chairman and CEO, said, "Our decrease in comparable store sales results continues to reflect the transition of our merchandise mix in preparation for our strategic initiative which will start to become apparent in our mall stores at the beginning of September. As we await our new product introduction, our inventory on a store-for-store basis (including in-transit inventories) is estimated to be 13.6% below last year. We remain focused on our plan to re-invent the mall store experience for both old and new Wilsons Leather consumers."

Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States. It operates 422 stores located in 45 states, including 296 mall stores, 112 outlet stores and 14 airport stores.

Wilsons The Leather Experts Inc


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