USA: Wilsons Leather Reports 8.7% Increase in May Sales
Wilsons The Leather Experts Inc. (NASDAQ: WLSN) today reported that sales for the four weeks ended May 27, 2000 increased 8.7% to $18.8 million compared to $17.3 million last year. Comparable store sales increased 0.6% compared to a 14.4% increase last year. Year-to-date sales increased 10.6% to $109.1 million from $98.6 million one year ago. Year-to-date comparable store sales increased 6.0% on top of a 10.3% increase for the same four month period in 1999. Joel Waller, Chairman and Chief Executive Officer, commented, "Our Spring merchandise performed well for the month. This success was somewhat offset by lower sales of clearance merchandise compared to last year, due to fewer clearance goods on hand as a result of our strong sales performance for the past several months. We therefore anticipate increased second quarter gross margins compared to last year, and our inventories are well positioned as we begin to build momentum for the upcoming Fall season." Wilsons Leather is the leading specialty retailer of leather outerwear, apparel and accessories in the United States. As of May 27, 2000, Wilsons Leather operated 539 retail stores in 44 states, Canada and England, including 446 mall stores, 64 outlet stores, and 29 airport locations. The Company, which regularly supplements its permanent mall stores with temporary holiday stores during its peak selling season from October through December, operated 249 of these stores in 1999. Additionally, the Company's e-commerce site at
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