US specialty retailer of leather outerwear, accessories and apparel, Wilsons The Leather Experts Inc. has announced that it has narrowed the company’s losses in the second quarter of 2005.

Net sales for the second quarter ended July 30, 2005 increased 5.6% to $58.4 million compared with $55.3 million for the same period last year. Wilsons reported a net loss for the 2005 second quarter of $14.0 million compared with a net loss for the 2004 second quarter of $30.4 million.

However, year-to-date sales decreased 6.8% to $142.7 million compared with $153.1 million for the same period last year. But, sales for the prior year-to-date period had included approximately $20.8 million in liquidation sales resulting from the transfer of inventory to an independent liquidator in conjunction with the closing of approximately 111 stores.

The net loss for the current six-month period was $17.8 million compared with a net loss of $57.2 million in the first half of 2004.

Michael Searles, chairman and CEO, commented, "We are pleased with our improved operating performance during the second quarter of 2005. After adjusting for our 2004 restructuring efforts, we reduced our net loss during the second quarter by 37.0% when compared to last year. Sales during the quarter were strong across the board. The men's division was up 10.1%, women's was up 7.5%, and accessories increased 8.6%."