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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 




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