LEON’S FURNITURE $10.95 (Toronto symbol LNF; TSINetwork Rating: Average) (416-243-7880; www.leons.ca; Shares outstanding: 69.9 million; Market cap: $765.4 million; Dividend yield: 3.7%) reports that its sales rose 4.4% in the quarter ended March 31, 2012, to $157.4 million from $150.8 million a year earlier. However, earnings fell 16.5%, to $8.6 million, or $0.12 a share. A year earlier, the company earned $10.3 million, or $0.15 a share.
Leon’s spent more on marketing in the latest quarter, and it had to deduct some expenses left over from its opening of four new stores late last year.
Leon’s plans to continue its expansion by opening roughly five new stores a year over the next five years.
The company has no debt, and holds cash of $195.9 million, or $2.80 a share. The shares yield 3.7%.
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