Wilsons reports decrease in sales

07/10/2005

US retailer of leather outerwear, accessories and apparel, Wilsons the Leather Experts Inc. has reported that sales for the five weeks ended October 1, 2005 decreased 9.4% to $27.3 million compared with $30.2 million for the five weeks ended October 2, 2004. Year-to-date sales decreased 7.4% to $189.2 million compared with $204.4 million for the same period last year.

Comparable store sales decreased 6.6% for the five weeks; this compares with a 3.7% increase in comparable store sales for the five weeks ended October 2, 2004. Year-to-date comparable store sales increased 7.1%.

Commenting on these results, Michael Searles, CEO, said, "September was another difficult month for Wilsons Leather. Outerwear sales continued to be sluggish due to extremely warm weather over most of the country during the month. Accessory performance was positive during the month.”