Wilderness Experience Posts Loss as Sales Rise
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Wilderness Experience, a Chatsworth maker of outdoor gear, lost $1.1 million, or 21 cents a share, for the fiscal year ended Oct. 31. The loss, a reversal from a profit of $3,000 the year before, came despite sales that rose 12% to $7.0 million.
Officials of Wilderness Experience said the company’s downturn started in April, when a dissident shareholder group, including two of the concern’s top salesmen, launched an unsuccessful takeover attempt.
The company said sales suffered and, as a result, inventories in the third and fourth quarters had to be sold at discounts.
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