US retailer of leather outerwear, accessories and apparel Wilsons The Leather Experts Inc. has posted net sales of $57.6 million for the quarter ended May 5, down 22.9% from the $74.7 million reported for the same period last year, whilst comparable store sales decreased 20.8%. Net loss widened to $21.3 million, compared with a net loss of $6.5 million in the same prior-year period.

Commenting on the results Michael Searles, chairman and CEO, said, "Our results for the quarter are where we expected them to be, however, not where we would like them to be. It is clear from our transaction volume, which is down significantly to last year, the ‘price-only customer’ has opted out. While we do not have the technology to measure conversion rates in all stores, we do know that the customers who are coming in to most stores are spending more than they did last year.”