Danier Leather profits up in second quarter, comparable sales down
Danier Leather, the Toronto-based leather clothing retailer, has posted profits of nearly C$11.8 million (US$7.7 million) and C$1.70 (US$1.11) per share for its fiscal second quarter, ended
Sales were up slightly from C$86.2 million to C$86.6 million; the main drivers being new store openings, the expansion of some existing outlets and an upturn in accessory sales. On a like-for-like basis, however, sales were 4% down on the year before. Gross profits at comparable stores rose by 1%.
For the six-month period, profits fell by C$600,000 to C$8.4 million while sales were up by C$107.6 million to C$109.3 million.
