From Home Furnishing Business
Weather Impacts First Quarter for Leon's Furniture
Toronto-based Leon's Furniture attributes some of its drop in first quarter profits to harsh weather this winter.
Leon's Furniture Ltd. says harsh winter weather was partly to blame for a drop in first-quarter profits.
The retailer said Tuesday it earned $818,000 or a penny per diluted share for the quarter ended March 31, down from a profit of $5.4 million or seven cents per diluted share a year ago.
The drop came as same-store sales fell 3.8 per cent compared with a year ago.
"The profit decrease in the quarter was related to lower same-store sales,
Read Entire Story Source: The Hamilton Spectator