Wilsons net sales fall 15.6%

16/11/2006

Wilsons The Leather Experts Inc. saw a 15.6% decline in third quarter sales to $64.5 million, compared with $76.4 million for the same period last year.

Comparable store sales for the third quarter decreased 15.5%, compared with a decrease of 11.3% in the same 2005 period.

Wilsons reported a net loss for the 2006 third quarter of $14.1 million, compared with a loss of $11.7 million for the same period in 2005.

Year-to-date sales decreased 14.1% to $188.3 million, compared with $219.1 million for the same period last year, and comparable store sales for the nine-month period decreased 13.9% compared with an increase of 3.1% for 2005.

Net loss by the end of the third quarter was $45.1 million, compared with $29.5 million for the equivalent period last year.