Canada-based leathergoods company Danier Leather has reported its fiscal fourth quarter net loss narrowed slightly on essentially flat sales. The Toronto company, which operates 89 stores across Canada, said it lost $272,000 for the fiscal fourth quarter ended June 25, a traditionally slow period for the company.

That compared with a loss of $660,000 a year earlier. Sales fell marginally to $26.7 million from $26.8 million.

For the full year, Danier reported its net profit increased to $7.6 million from $7.2 million, while annual sales fell 4% to $157.6 million from $164.2 million.

The company noted that Canada’s increasingly competitive retail sector “continues to remain highly promotional”.

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