Wilsons comparable store sales decrease 7.9%

01/09/2005

 

Wilsons The Leather Experts Inc., a U.S. retailer of leather outerwear, accessories and apparel today reported that sales for the four weeks ended August 27, 2005 decreased 9.5% to $19.1 million, compared to $21.1 million for the four weeks ended August 28, 2004. Year-to-date sales decreased 7.1% to $161.9 million compared to $174.2 million for the same period last year. Sales for the prior year-to-date period included approximately $20.8 million in liquidation sales resulting from the transfer of inventory to an independent liquidator.

Comparable store sales decreased 7.9% for the four weeks ended August 27, 2005; this decrease compares to a 9.0% increase in comparable store sales for the four weeks ended August 28, 2004. Year-to-date comparable store sales increased 9.8% compared to an increase of 3.9% in the same period last year. Comparable store sales for the prior year-to-date period do not include sales from stores that were liquidated.

Commenting on these results, Michael Searles, CEO, said, "We anticipated that August would be a difficult month. We expect continued strong accessory performance and an increase in garment sales as the fall season progresses."