May store sales down at Wilsons Leather

11/05/2004

Wilsons The Leather Experts Inc has reported poor sales for the four weeks ended May 1 2004. Figures were down 16.7% to $17.9 million while year-to-date sales increased 2.6% to $97.8 million, compared with the same period 2003.

 

The beleaguered US company said that comparable store sales fell 3.5% and year-to-date comparable stores sales declined 2%.

 

Commenting on the results, Joel Waller, chief executive officer, said: “Sales in our mall-based stores have been negatively impacted by reduced levels of new and clearance merchandise. While this negatively impacted comparable store sales, our margin rate was positively impacted.”