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Yes, they do have sales and if you are on their emailing list you will get emails about sales. They just may not be on the books you have on your wishlist....
Once or twice I have actually received an email from Kobo letting me know something on my wishlist was on sale.
I have wishlists saved on a couple different ebook stores. Usually what I do is just scroll through them occasionally to see if anything is on sale. I've gotten a number of books cheaper that way.
In case you haven't found it yet, there's also an ongoing thread in the deals forum where people post Kobo coupon codes.
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