Wilsons Leather declares same store sales go up 6.9% for June
07 Jul '05
2 min read
Full range of leather outerwear, accessories and apparel retailer Wilsons The Leather Experts Inc reported sales for the five weeks ended July 2, 2005 increased 3.6% to $21.7 million as compared to $21.0 million for the five weeks ended July 3, 2004. Year-to-date sales decreased 8.5% to $123.3 million compared to $134.7 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 increased 6.9% for the five weeks ended July 2, 2005; this increase compares to a 19.2% increase in comparable store sales for the five weeks ended July 3, 2004. Year-to-date comparable store sales increased 13.4% compared to an increase of 0.7% 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, "We are pleased with our positive comparable store sales results for the month of June.
They anticipated that June would be a challenging month for Wilsons Leather as our comparable store sales results during June were strong last year. During the third week of June we matched last year's promotional strategy. Margin rates for the month of June continue to be strong."
Mr. Searles continued, "July, which was up 21.1% last year, will be another month of tough comparable store sales comparisons; positive comparable store sales results of any size will be a victory."
US based Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States. As of July 2, 2005, Wilsons Leather operated 430 stores located in 45 states, including 306 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.
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