Wilsons: Set To Go Hell For Leather

With Christmas just around the corner, are retail stocks set for a lift? Maybe not, considering the slowing economy and the sharp sell-off in stocks. But Daniel Schwarzwalder of Buckingham Capital Management--whose fund, mainly in retail and apparel, is up 35% this year--bets big on one specialty retailer. He thinks Wilsons the Leather Experts (WLSN) will score. Why? He calls leather the "sweet spot" in fashion today, and he's impressed with Wilsons' "very focused" management. Schwarzwalder says it has created "a good brand, whose sales have been growing at 20% a year." Wilsons operates 529 retail stores in 44 states, Canada, and Britain. "The stock, down from 21 in August, to 14 1/4, is cheap," he says. He sees it doubling in 12 months.

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