Wilsons The Leather Experts Inc reported sales of $16.5 million for the five weeks ended July 7, 2007 as compared to $17.4 million for the five weeks ended July 1, 2006. Year-to-date sales for the Company's stores decreased 20.7% to $85.5 million compared to $107.8 million for the same period last year.
Comparable store sales decreased 9.4% for the five weeks ended July 7, 2007; this decrease compares to a 19.9% decrease in comparable store sales for the five weeks ended July 1, 2006. Year-to-date comparable store sales decreased 19.4% compared to a decrease of 12.2% for the same period last year.
Michael Searles, Chairman and Chief Executive Officer, commented, "We continued to struggle from a traffic perspective during the month of June. Reduced year-over-year transaction volume was a key factor in our comparable store sales results."
"Our new branded product will begin arriving toward the end of next month and we hope to see a lift in our transaction volume as that strategy takes hold. We remain focused on implementing strategies that will help to increase traffic during the third and fourth quarters of 2007."
Wilsons The Leather Experts Inc
marketing@alchempro.com
