Wilsons The Leather Experts Inc reported sales of $15.8 million for the four weeks ended August 26, 2006 as compared to $19.1 million for the four weeks ended August 27, 2005.
Year-to-date sales for the Company's stores decreased 13.7 percent to $139.7 million compared to $161.9 million for the same period last year.
Comparable store sales decreased 18.5 percent for the four weeks ended August 26, 2006; this decrease compares to a 7.9 percent decrease in comparable store sales for the four weeks ended August 27, 2005. Year-to-date comparable store sales decreased 13.7 percent compared to an increase of 9.8 percent for the same period last year.
Michael Searles, Chairman and Chief Executive Officer, commented, "As expected, our August comparable store sales results were negatively impacted by the significant transition that has been underway in our mall based stores. The physical transformation of our stores was completed during the last week of August."
"New product began to arrive during that week as well, however, the bulk of our new receipts will be coming in during September and October. We remain focused on our plan to re-invent the mall store experience for both old and new Wilsons Leather consumers."
Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States. As of August 26, 2006, Wilsons Leather operated 424 stores located in 45 states, including 296 mall stores, 114 outlet stores and 14 airport stores.
Wilsons The Leather Experts Inc
marketing@alchempro.com
