Sales slump again at Wilsons
American retailer of leather outerwear, accessories and apparel Wilsons The Leather Experts Inc. has reported yet another slump in sales for October. The company reported sales of $20 million for the four weeks ended November 3, down $5 million compared with the same period last year. Year-to-date sales also decreased significantly, falling 15.6% to $159 million, from the $188.3 million recorded for the same period in the prior year. Comparable store sales decreased 21.8% for the four weeks and by 15.8% on a year-to-date basis.
Chief executive Michael Searles again cited warmer weather as a major influence on the company’s performance, stating, “We continue to see that when the weather is cooler than normal, we experience positive results. Accessories penetration to total sales continues to grow significantly year-over-year but has not been enough to overcome the softness we are experiencing in our outerwear categories.”
