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Leon's Furniture 1Q Profit Shrinks to $5.4M

By Aggregated Content in Financial Reports on May 14, 2013 from

Lower same-store sales, store opening costs and expenses related to the acquisition of The Brick Ltd. all contributed to a smaller first-quarter profit, Leon's Furniture Ltd (TSX:LNF) said Tuesday.

The retailer said net earnings in the three months ended March 31 totalled $5.4 million or seven cents per diluted share, down from $8.6 million or 12 cents per share in the same 2012 period.

The seller of home furnishings, electronics and appliances reported revenue of $162.5 million, up from $157.4 million.

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