Net loss falls at Danier Leather in Q1
20/10/2006
Canadian leather and suede clothing and accessories company, Danier Leather Inc., has posted its consolidated financial results for the 13 weeks ended September 23.
Revenue for the first quarter of fiscal 2007 increased by 5.3%, or $1.1 million, to $21.9 million compared with $20.8 million in the first quarter of 2006. Comparable store sales increased 6 % in the same period.
Gross profit as a percentage of revenue increased by 0.6% to 44%, or $12.3 million, compared with 43.4%, or $11.8 million, during the first quarter last year.
Net losses for the quarter decreased by 21.1% to $4.2 million from $5.3 million last year.
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