Leon's Reports Lower Revenue, Profit

February 20, 2013  by in UnCategorized   

By Aggregated Content in Furniture Retailing on February 21, 2013 from http://www.brandonsun.com/business/breaking-news/leons-says-lower-revenue-profit-due-to-tough-economy-retail-competition-192334941.html

Leon's Furniture Ltd. (TSX:LNF) is reporting lower revenue and profit for its fourth quarter, citing weakness in the economy and a competitive retail environment.

The Toronto-based retailer posted net income of $16 million, or 22 cents per diluted share, for the three months ended Dec. 31 compared to $19.9 million, or 27 cents per diluted share in the year earlier period.

Sales, including corporate and franchise stores, came in at $248 million for the quarter, down from $255 million in the year earlier period.

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