Danier Leather post Q1 losses - leatherbiz: Leading news site for the Leatherbiz

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Danier Leather post Q1 losses

22/10/2008
Canada-based leather and suede clothing and accessories company Danier Leather Inc. has posted mixed results for the 13-week period ended September 27.

Sales for the first quarter rose 2%, or $0.5 million, to $22.6 million compared with $22.1 million in the first quarter last year. Comparable store sales also increased 2%.

However, net loss for the first quarter was $3.7 million compared with net earnings of $9.8 million during the same quarter last year. Gross profit as a percentage of revenue was 42.9% compared with 48.9% during the first quarter last year. Increased markdowns resulting from clearance of prior-year autumn merchandise contributed to the decrease.







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