Wilsons sales fall
American specialty retailer of leather outerwear, accessories and apparel, Wilsons The Leather Experts Inc. has reported a drop in sales for the four weeks ended January 29, 2005. Sales for the period fell by 26.1% to $30.5 million compared with $41.3 million during the comparable period in 2004.
Sales for the full fiscal year for the company's stores decreased 15.3% to $441.1 million compared to $521.0 million for the same period last year. Sales for the current fiscal year include $20.8 million in liquidation sales resulting from the transfer of inventory to an independent liquidator in conjunction with the previously announced closing of approximately 111 stores that was completed in April 2004.
Comparable store sales decreased 1.1% for the four weeks ended January 29, 2005; this decrease compares to a 0.8% decrease in comparable store sales for the four weeks ended January 31, 2004. For the quarter, Wilsons Leather stores experienced a comparable store sales decrease of 3.8% versus a decrease of 8.7% for the same quarter last year. Full fiscal year comparable store sales increased 0.6% versus a decrease of 6.8% during the prior fiscal year.
