LEON’S FURNITURE LTD. $18.01 (Toronto symbol LNF; TSINetwork Rating: Average) (416-243-7880; www.leons.ca; Shares outstanding: 76.3 million; Market cap: $1.4 billion; Dividend yield: 3.1%) has steadily increased the number of stores under its Leon’s banner from 27 in 2003 to today’s 86.
In March 2013, the company nearly quadrupled in size with its $700 million purchase of The Brick, its main rival. That chain now has 218 locations across Canada and still operates separately.
In the three months ended June 30, 2018, Leon’s overall sales rose 1.5%, to $546.7 million from $538.9 million a year earlier. On a same-store basis, sales gained 0.4%.
The company earned $22.6 million in the latest quarter, up 13.2% from $20.0 million a year earlier. Earnings per share rose 7.1%, to $0.30 from $0.28, on more shares outstanding. The jump is the result of better sales, but also cost cutting.
Successful integration cut The Brick’s risk
Growth by acquisition can be risky, especially with a deal as big as the Brick purchase. But the integration…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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