‘Disappointing’ revenue dip at Danier Leather - leatherbiz: Leading ne Leatherbiz

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‘Disappointing’ revenue dip at Danier Leather

24/04/2014
Canadian leathergoods retailer Danier Leather has reported a 17% decline in third-quarter fiscal 2014 revenues to $31 million, which it attributes to extreme cold weather in the country prompting customers to buy insulated jackets rather than leather products.

Management said it will adjust its product assortment to ensure a better selection of ‘cold weather outerwear’ next winter to improve its competitiveness.

Its accessories business continued to grow with sales of handbags increasing more than 30% compared with the same period last year.

"We are disappointed with the company's unsatisfactory financial results this past quarter. We are continuing to make a number of changes which we believe will produce meaningful improvements," said its CEO, Jeffrey Wortsman.

The company has made a number of senior level appointments in the past six months: Elizabeth Margles as chief marketing officer, Rodney McBrien as chief information officer and Brian Burgess as vice-president of merchandising, sourcing and planning.

"The team is stronger, more experienced and focused on executing the various elements of our stated business strategy," said Mr Wortsman.



Related stories:

Danier Leather files for insolvency 08/02/2016
Will Leather Goods donates 3,000 bags to children 17/12/2015
Danier Leather looks back on ‘toughest year’ 22/09/2015
Danier Leather to explore sale options after ‘disappointing’ results 11/02/2015
Management shake-up for Danier as sales fall 10% 14/08/2014
High-end leathergoods boost Danier's figures 24/10/2013
Danier Leather to focus on accessories as sales dip 15/08/2013
Warmer weather impacts Danier sales 16/08/2012
Danier Leather reports Q2 results 26/01/2012
Danier Leather narrows Q1 net loss to $2.8m 20/10/2011

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