Wilsons The Leather Experts Inc reported sales of $15.6 million for the four weeks ended May 27, 2006 as compared to $17.2 million for the four weeks ended May 28, 2005.
Year-to-date sales for the Company's stores decreased 11.1 percent to $90.3 million compared to $101.5 million for the same period last year.
Comparable store sales decreased 9.1 percent for the four weeks ended May 27, 2006; this decrease compares to an 11.0 percent increase in comparable store sales for the four weeks ended May 28, 2005.
Year-to-date comparable store sales decreased 10.5 percent compared to an increase of 15.0 percent for the same period last year.
Michael Searles, Chairman and Chief Executive Officer, commented, "Our comparable store sales results continue to be negatively impacted as we transition our merchandise mix in preparation for our fall strategic initiatives associated with the re-engineering of our mall stores, which will begin to take place during the third quarter of 2006. 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. As of May 27, 2006, Wilsons Leather operated 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
