Wilsons’ rollercoaster ride continues
It’s been a real rollercoaster ride for American leather outerwear and accessories retailer Wilsons The Leather Experts Inc. in recent times. Having reported ever-decreasing sales for months on end, business began to pick up in November; however, the company’s hopes were then dashed as sales in December fell once again (see www.leatherbiz.com January 11, 2008).
Now it appears that there is once again a glimmer of hope as although sales decreased 14.8% to $21.9 million for the four weeks ended February 2, 2008, from $25.7 million for the five weeks ended February 3, 2007, comparable store sales rose a significant 10.4% compared with a 20.0% decrease in the comparable prior-year period.
Commenting on the latest trend Michael Searles, chief executive, said: "We are pleased with our trend improvement in January. All divisions posted positive comparable store sales results for the month. Our outerwear categories benefited from colder weather conditions and aggressive clearance activities."
