Wilsons The Leather Experts Inc reported sales of $75.7 million for the five weeks ended December 30, 2006 as compared to $110.2 million for the five weeks ended December 31, 2005. Year-to-date sales for the Company's stores decreased 20.3% to $295.5 million compared to $370.6 million for the same period last year.
Comparable store sales decreased 23.1% for the five weeks ended December 30, 2006; this decrease compares to a 7.7% decrease in comparable store sales for the five weeks ended December 31, 2005. Year-to-date comparable store sales decreased 17.0% compared to a decrease of 2.2% for the same period last year.
Michael Searles, Chairman and Chief Executive Officer, commented, "We are disappointed in our comparable store sales results for the month. Our results for the month were lower than expected. Reduced traffic in our stores negatively impacted sales during the month."
"Accessories continue to outperform outerwear. Outerwear sales continue to be negatively impacted by warmer weather in most of the country. Despite poor performance during December, we remain committed to attracting a more fashion driven and less price sensitive consumer, which we know will take time."
Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States. As of December 30, 2006, Wilsons Leather operated 426 stores located in 45 states, including 296 mall stores, 116 outlet stores and 14 airport stores.
Wilsons The Leather Experts Inc
marketing@alchempro.com
