Leon's 1Q Profit Falls on Higher Marketing Costs

May 13, 2012  by in UnCategorized   

By Aggregated Content in Furniture Retailing on May 14, 2012 from http://www.stockhouse.com/News/FinancialNewsDetailFeeds.aspx?n=14844765&src=cp

Leon's Furniture Ltd. saw its first-quarter profits drop to $8.6 million due in part to increased marketing costs and spending related to four new stores that opened late last year.

The furniture and appliance retailer said the economic slowdown continues to affect its results "as shoppers are less inclined to splurge on big ticket items" adding it doesn't see any signs of immediate improvements. "As such, we anticipate that consumer discretionary spending will remain soft throughout 2012," Leon's said in a statement. "To help counter this, we plan an even more robust marketing and

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