Long-awaited improvement at Wilsons
After long-term declines in sales, it appears that the turnaround predicted at leather outerwear, accessories and apparel retailer Wilsons The Leather Experts Inc. may have begun.
Although year-to-date sales have decreased 12.4% to $192.7, the company reported an increase of 6.6% to $33.6 million for the four weeks ended December 1, up from $31.6 million in the comparable period last year. Comparable store sales also improved 0.4%, rising for the first time since 2000, compared with a 19.1% decrease in same period of 2006.
"We are very pleased with our trend improvement in November, with results in all channels generating either flat or positive comparable store sales increases. Women's accessories and outerwear in all channels showed strong comparable store sales results in November. Our sales accelerated significantly during the third week in November, culminating in a strong Thanksgiving weekend. We are encouraged that we were able to generate a positive comparable store sales increase during the month of November for the first time since 2000. As such, we remain optimistic regarding our prospects for the balance of the Holiday Season," said Michael Searles, chief executive.
