Heat beats mall outerwear sales at Wilsons Leather in Aug
01 Sep '05
2 min read
Leather outerwear, accessories and apparel maker Wilsons The Leather Experts Inc reported the sales for the four weeks ended August 27, 2005 decreased 9.5 percent to $19.1 million as compared to $21.1 million for the four weeks ended August 28, 2004.
Year-to-date sales decreased 7.1 percent to $161.9 million compared to $174.2 million for the same period last year. Sales for the prior year-to-date period included approximately $20.8 million in liquidation sales resulting from the transfer of inventory to an independent liquidator.
Comparable store sales decreased 7.9 percent for the four weeks ended August 27, 2005; this decrease compares to a 9.0 percent increase in comparable store sales for the four weeks ended August 28, 2004.
Year-to-date comparable store sales increased 9.8% compared to an increase of 3.9% in the same period last year. Comparable store sales for the prior year-to-date period do not include sales from stores that were liquidated.
Commenting on these results, Michael Searles, Chief Executive Officer, said, "Company anticipated that August would be a difficult month. Mall outerwear sales were sluggish due to extremely warm weather over most of the country during the first two weeks of the month."
Mall accessory performance was very strong during the month. Mall accessory comparable store sales are up 16.4 percent during August and drove an overall comparable store sales increase in the Mall channel of 1.8 percent.
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