Home / Knowledge / News / Fashion / Wilsons Leather's accessories sales soar

Wilsons Leather's accessories sales soar

21
May '08
Wilsons The Leather Experts Inc announced results for the quarter ended May 3, 2008. Net sales decreased 14.0% to $36.4 million compared to $42.4 million for the same period last year. Sales related to the 163 stores that closed during the first quarter of 2008 are reported as discontinued operations. Comparable store sales for the first quarter ended May 3, 2008 decreased 8.8% compared to a decrease of 20.8% in the same period last year.

Wilsons Leather reported a loss from continuing operations for the 2008 first quarter of $13.4 million, or $0.38 per basic and diluted share. This compares to a loss from continuing operations for the 2007 first quarter of $15.3 million, or $0.39 per basic and diluted share.

The 2008 first quarter loss from discontinued operations was $9.0 million, or $0.22 per basic and diluted share, and includes a charge for future estimated lease obligations of $5.3 million for the discontinued stores. This compares to a loss from discontinued operations for the 2007 first quarter of $5.9 million, or $0.15 per basic and diluted share.

Net loss available to common shareholders for the 2008 first quarter was $23.7 million, or $0.60 per basic and diluted share, and includes a preferred stock dividend of $1.4 million to determine net loss attributable to common shareholders. This compares to a net loss available to common shareholders during the 2007 first quarter of $21.3 million, or $0.54 per basic and diluted share.

The Company saw some improvement in the performance of its go-forward operations during the quarter. Comparable store sales results improved each month during the quarter and were positive during the month of April. First quarter 2008 comparable store sales results for malls were down 27.1%, outlets were down 1.4%, men's was down 21.7%, women's was down 27.1% and accessories were up 7.8%.


Interviews View All

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search