Wilsons The Leather Experts Inc reported sales of $31.6 million for the four weeks ended November 25, 2006 as compared to $41.3 million for the four weeks ended November 26, 2005.
Year-to-date sales for the Company's stores decreased 15.6% to $219.9 million compared to $260.4 million for the same period last year.
Comparable store sales decreased 19.1% for the four weeks ended November 25, 2006; this decrease compares to a 13.8% decrease in comparable store sales for the four weeks ended November 26, 2005. Year-to-date comparable store sales decreased 14.7% compared to an increase of 0.1% for the same period last year.
Michael Searles, Chairman and Chief Executive Officer, commented, "Our comparable store sales results for the month were lower than expected. Our performance in accessories has improved over previous months but warmer weather in most of our operating areas negatively impacted our outerwear business. As anticipated, our strategic decision not to repeat door busters and sale inserts in major market newspapers on Black Friday makes a comparison against last year's sales more difficult."
Searles continued, "Despite our negative comparable store sales performance, we have continued to stay out of our revolving line of credit during the month of November and we are committed to attracting a more fashion driven and less price sensitive consumer, which we know will take time."
Wilsons The Leather Experts Inc
marketing@alchempro.com
