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Mall accessory unit performance strong at Wilsons Leather
17 Aug '05
5 min read
"Gross margin rates for the quarter also improved significantly. The increase in margin rates was primarily driven by higher initial markups, fewer markdowns and lower delivery costs. They will continue to concentrate on executing strategies to ensure success during the ever important holiday selling season," stated Searles.
Searles concluded by commenting on the accessory expansion test that the Company launched on August 1, 2005. "While fall garment sales are off to a sluggish start due to extremely warm weather over most of the country, Company Mall accessory business has been very strong. Mall accessory comparable store sales are up 21.0 percent August month-to-date, resulting in a comparable store sales increase in the mid-single digit range for the Mall channel.
However, Outlet traffic has been significantly impacted by the weather and, as a result, comparable store sales are down in this channel.
As a result of the Outlet performance, they anticipate that August comparable store sales will be a decrease in the low to mid-single digit range. They expect continued strong accessory performance and an increase in garment sales as the fall season progresses," said Searles.
Wilsons Leather is the leading specialty retailer of quality leather outerwear, accessories and apparel in the United States. History dates back to 1899 as Bermans Leather, a leather garment manufacturer and factory outlet retailer.
As of July 30, 2005, Wilsons Leather operated 429 stores located in 45 states, including 305 mall stores, 109 outlet stores and 15 airport stores. The Company regularly supplements its permanent mall stores with seasonal stores during its peak selling season from October through January.
Searles concluded by commenting on the accessory expansion test that the Company launched on August 1, 2005. "While fall garment sales are off to a sluggish start due to extremely warm weather over most of the country, Company Mall accessory business has been very strong. Mall accessory comparable store sales are up 21.0 percent August month-to-date, resulting in a comparable store sales increase in the mid-single digit range for the Mall channel.
However, Outlet traffic has been significantly impacted by the weather and, as a result, comparable store sales are down in this channel.
As a result of the Outlet performance, they anticipate that August comparable store sales will be a decrease in the low to mid-single digit range. They expect continued strong accessory performance and an increase in garment sales as the fall season progresses," said Searles.
Wilsons Leather is the leading specialty retailer of quality leather outerwear, accessories and apparel in the United States. History dates back to 1899 as Bermans Leather, a leather garment manufacturer and factory outlet retailer.
As of July 30, 2005, Wilsons Leather operated 429 stores located in 45 states, including 305 mall stores, 109 outlet stores and 15 airport stores. The Company regularly supplements its permanent mall stores with seasonal stores during its peak selling season from October through January.
Wilsons The Leather Experts Inc
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