Footwear retailer Wilsons The Leather Experts Inc has reported sales of $27.9 million for the five weeks ended April 1st 2006 as compared to $32.6 million for the five weeks ended April 2nd 2005.
Year-to-date sales for the company's stores decreased 12.4 percent to $57.6 million compared to $65.7 million for the same period last year.
Same-store sales decreased 14.0 percent for the five weeks ended April 1st 2006; this decrease compares to a 27.0 percent increase in same-store sales for the five weeks ended April 2nd 2005. Year-to-date same-store sales decreased 11.7 percent compared to an increase of 16.6 percent for the same period last year.
Michael Searles, Chairman and CEO, said, "During the month of March, we continued to reduce our garment inventories as we transition to our strategic initiative of becoming a less dense store with a higher penetration of accessories. The shift of Easter from March in 2005 into April this year as well as our aggressive promotional posture during the month of March last year generated challenging comparisons."
Searles continued, "We expect our comparable store sales results to continue to be challenging as we transition our merchandise mix to complement our fall strategic initiatives and we remain focused on executing strategies that will ensure a successful holiday selling season."
Wilsons Leather is the leading specialty retailer of leather outerwear, accessories and apparel in the United States. It operates 421 stores located in 45 states, including 297 mall stores, 110 outlet stores and 14 airport stores.
Wilsons The Leather Experts Inc
marketing@alchempro.com
