Wilsons The Leather Experts Inc reported sales of $13.3 million for the four weeks ended May 5, 2007 as compared to $17.1 million for the four weeks ended April 29, 2006. Year-to-date sales for the Company's stores decreased 22.9% to $57.6 million compared to $74.7 million for the same period last year.
Comparable store sales decreased 20.0% for the four weeks ended May 5, 2007; this decrease compares to a 7.9% decrease in comparable store sales for the four weeks ended April 29, 2006. Year-to-date comparable store sales decreased 20.8% compared to a decrease of 10.8% for the same period last year.
Michael Searles, Chairman and Chief Executive Officer, commented, "Sales during the first half of the month were negatively impacted due to the Easter calendar shift and unfavorable weather, as it was for many retailers."
"We continued to struggle from a traffic perspective during the month of April, however, average purchase size continued to show improvement, with an increase of 33% from the comparable period last year in our mall stores. In 2007, we will implement strategies that focus on building traffic with the expectation of delivering improved performance with our new product offering."
The Company is also scheduled to release its first quarter 2007 results after market close on Tuesday, May 22, 2007. A conference call to discuss the Company's first quarter results will be held at 4:30 p.m. ET that same afternoon.
Wilsons The Leather Experts Inc
marketing@alchempro.com
