Significant sales rise at Danier Leather

20/08/2008

Canada-based Danier Leather Inc. has posted higher sales for its fourth quarter ended June 28.

Sales for the quarter rose 24%, or $5.2 million, to $27.5 million compared with $22.3 million in the fourth quarter of 2007. Comparable store sales increased 25%. The fourth quarter of 2008 contained 13 weeks compared with14 in the fourth quarter of 2007. On a comparable week basis, sales increased 42% and comparable store sales increased 43%.

Year-to-date sales increased 3%, or $5.5 million, to $163.6 million while comparable store sales increased 6%.

Net loss for the fourth was $3 million compared with a net loss of $2.4 million during the same quarter last year. Year-to-date net earnings were $12.9 million compared with $1.7 million.