Danier Leather reports higher sales
Canadian designer, manufacturer, and retailer of leather and suede clothing and accessories Danier Leather Inc. has posted higher unaudited sales for the 13 and 26 weeks ended
Sales for the second quarter increased 9% ($5.8 million) to reach $67.6 million from the $61.8 million reported in the second quarter of 2006. Comparable store sales increased 12%. Meanwhile year-to-date sales increased 8% to $89.5 million while comparable store sales increased 10%.
Net earnings for the second quarter of 2007 increased by $3 million (66%) to reach $7.6 million compared with $4.6 million in the comparable quarter last year. Year-to-date net earnings reached $3.5 million compared with a net loss of $0.7 million last year.
The company has attributed the improved results to focusing its merchandise offering and marketing programmes on its core customer and implementing improved merchandise planning processes. It is expected that work will continue on these initiatives for the remainder of 2007.
Danier’s merchandise is marketed exclusively under the Danier brand name and is sold through its 93 retail outlets and its corporate sales division.
