Wilsons The Leather Experts Inc reported sales of $25.7 million for the five weeks ended February 3, 2007 as compared to $27.4 million for the four weeks ended January 28, 2006. Sales for the Company's stores decreased 19.3% to $321.3 million for 2006 compared to $398.0 million for 2005.
Comparable store sales decreased 20.0% for the five weeks ended February 3, 2007; this decrease compares to a 12.7% decrease in comparable store sales for the four weeks ended January 28, 2006. Comparable store sales decreased 17.2% for 2006 compared to a decrease of 2.9% for 2005.
Michael Searles, Chairman and Chief Executive Officer, commented, "We are disappointed in our comparable store sales results for the month, as reduced traffic continues to have a negative impact on sales."
"Of customers who did visit our stores, average dollars spent per transaction during January increased 12.2% when compared to January last year. In 2007 we will focus on building traffic so that we can deliver improved performance with our new product offering."
The Company is also scheduled to release its fourth quarter and full-year 2006 results after market close on Tuesday, March 6, 2007. A conference call to discuss the Company's fourth quarter and full-year results will be held at 4:30 p.m. ET that same afternoon.
Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States. As of February 3, 2007, Wilsons Leather operated 417 stores located in 45 states, including 287 mall stores, 116 outlet stores and 14 airport stores.
Wilsons The Leather Experts Inc, USA
marketing@alchempro.com
