Wilsons The Leather Experts Inc announced results for the second quarter ended July 29, 2006. Net sales decreased 15.8 percent to $49.2 million compared to $58.4 million for the same period last year.
Comparable store sales for the second quarter decreased 16.2 percent compared to an increase of 8.7 percent in the same period last year.
Wilsons Leather reported a net loss for the 2006 second quarter of $24.5 million, or $0.63 per basic and diluted share. This compares to a net loss for the 2005 second quarter of $14.0 million, or $0.36 per basic and diluted share.
Year-to-date sales decreased 13.2 percent to $123.8 million compared to $142.7 million for the same period last year. Comparable store sales for the six-month period decreased 13.0 percent compared to an increase of 12.8 percent for the same period last year.
The net loss in the first half of 2006 was $31.0 million, or $0.79 per basic and diluted share. This compares to a net loss of $17.8 million, or $0.46 per basic and diluted share, in the first half of 2005.
Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States.
As of July 29, 2006, Wilsons Leather operated 422 stores located in 45 states, including 296 mall stores, 112 outlet stores and 14 airport stores.
Wilsons The Leather Experts Inc
marketing@alchempro.com
