Furniture Retailer Leon's 2Q Profit Shows 20% Drop

August 12, 2012  by in UnCategorized   

By Aggregated Content in Furniture Retailing on August 13, 2012 from http://www.brandonsun.com/business/breaking-news/furniture-retailer-leons-reports-second-quarter-profit-down-from-year-ago-166001996.html?thx=y

Leon's Furniture Ltd. (TSX:LNF) reported a nearly 20 per cent drop in its second-quarter earnings compared with a year ago as it marketing costs rose.

The retailer said Monday it earned $9 million or 13 cents per share for the quarter ended June 30, down from $11.2 million or 16 cents per share a year ago.

Systemwide sales totaled $207.7 million including $45.6 million in franchise sales, down from $209.3 million a year ago, when franchise sales totalled $45.5 million.

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